APRA revokes Bank of Nova Scotia's ADI licence

news-and-publications

Published March 2nd, 2026

Detected March 13th, 2026

Summary

The Australian Prudential Regulation Authority (APRA) has revoked the authorised deposit-taking institution (ADI) licence of the Bank of Nova Scotia. This action follows the bank's decision to exit the Australian market and voluntarily surrender its licence.

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What changed

The Australian Prudential Regulation Authority (APRA) has officially revoked the authorised deposit-taking institution (ADI) licence of the Bank of Nova Scotia, effective March 2, 2026. This revocation was made at the request of the bank itself, as it prepares to exit the Australian banking sector. The APRA website will be updated to reflect this change in its register of authorised ADIs.

While this action is a consequence of the Bank of Nova Scotia's strategic decision to withdraw from Australia, it serves as a reminder of the importance of maintaining regulatory compliance for all financial institutions operating within the jurisdiction. Regulated entities should ensure their operational status and licensing requirements are consistently reviewed, especially in light of market exits or strategic shifts. No specific compliance actions are required for other entities as a direct result of this notice, beyond general awareness of regulatory actions.

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Media Releases

APRA revokes Bank of Nova Scotia’s authorised deposit-taking institution licence

Monday 2 March 2026

Print Email The Australian Prudential Regulation Authority (APRA) has agreed to a request from the Bank of Nova Scotia to revoke its licence to operate as an authorised deposit-taking institution (ADI) following its decision to exit the Australian banking market.

The updated list of all APRA-authorised ADIs is available on the APRA website at: Register of authorised deposit-taking institutions.

Media enquiries

Contact APRA Media Unit, on +61 2 9210 3636

All other enquiries

For more information contact APRA on 1300 558 849.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.