Skip to content
Dell Business

Dell Business

Business Au

Primary Menu
  • Business & Finance News
  • Business Finance & Support
  • Dell Business
  • Financial Function
  • Business Au
  • Business Filance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Australia’s first neobank Volt to shut deposit taking business, return licence
  • Business Au

Australia’s first neobank Volt to shut deposit taking business, return licence

By Todd Hunsicker 11 months ago

Australia’s initially neobank, Volt Financial institution Ltd, said on Wednesday it was shutting down its deposit taking enterprise, returning its banking licence and lowering team quantities following unsuccessful cash boosting initiatives.

The neobank, which in February had intended to raise A$200 million ($138.08 million), manufactured the conclusion just after it was unable to safe additional funding to guidance the organization, it said in a assertion.

Mortgage broking organization Australian Finance Group (AFG) last yr had secured about 8 per cent stake in Volt truly worth A$15 million, area media had described https://www.afr.com/street-converse/volt-lender-pitches-investors-for-200m-collection-f-boosting-20220201-p59suh in February. AFG did not immediately reply to a Reuters ask for for remark.

Volt claimed its had executed a transaction to market its mortgage portfolio and commenced the system of returning all deposits to clients in complete.

“Volt has taken methods to cut down all expenses and team quantities, other than individuals essential to help the orderly return of deposits and go after a realisation of the price of our remaining property,” it reported.

Australia’s prudential regulator in a independent assertion explained https://www.apra.gov.au/information-and-publications/apra-displays-volt-return-of-deposits it would closely observe the procedure to be certain funds are returned to Volt’s depositors.

($1 = 1.4484 Australian dollars)

Tags: Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Business Search, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login, Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous Africa ‘taken hostage’ by Russia’s invasion, Zelenskyy says | Govt-and-politics
Next Insurance Business named Publication of the Year
May 2023
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Apr    

Archives

  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • November 2018
  • October 2018
  • January 2017

Recent Posts

  • Ex-tabloid reporter who coined ESG label says backlash is good
  • Sba Small Business Loans
  • World Cup fans transform streets of Doha with chaotic fashion choices
  • Dragons’ Den: Steven’s ultimatum, S19, Ep 14
  • Corona Small Business Grants

BL

Tags

Amazon Business Credit Card American Airlines Business Class Att Business Login Austin Business Journal Best Bank For Small Business Best Business Bank Accounts Best Business Schools In Us Best Business To Start British Airways Business Class Business Business Attire Men Business Card Ideas Business Casual Shoes For Women Business Continuity Planning Business Entity Search Business Letter Template Business Management Degree Business Manager Facebook Business Plan Outline Business School Rankings Colorado Business Search Delaware Business Entity Search Drop Shipping Business Family Business Bet Fox Business Live Georgia Sos Business Search Google Business Account Harvest Small Business Finance How To Build Business Credit Is Saturday A Business Day Is Sears Still In Business Microsoft 365 Business My Business Google Name Generator Business None Of Your Business Ny Sos Business Search Open A Business Bank Account Pa Business Search Plus Size Business Casual Pnc Business Banking Small Sos Business Search Ca Sunbiz Business Search Taking Care Of Business The Business Of Being Born

Visit Now

Pets Store

scorpion exterminator las vegas 

getlinko

i-chungcuhanoi24h.xyz | Magazine 7 by AF themes.

WhatsApp us