APRA banking licence Novatti lodged its application to APRA for a restricted Authorised Deposit-Taking Institution (ADI) or banking licence in November 2018. The focus of such a banking licence is to offer new banking services to Australian customers with a focus on new migrants. The Company has had regular engagement with APRA during the June quarter as APRA reviews Novatti's bank licence application. The Company continues to develop its banking division with the next funding required for the bank potentially being directly into the subsidiary.
NOV Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
