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

Channel News Asia LogoChannel News Asia1 mo ago

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

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Australia's first neobank, Volt Bank Ltd, said on Wednesday it was shutting down its deposit taking business, returning its banking licence and reducing staff numbers after unsuccessful capital raising initiatives.

The neobank, which in February had intended to raise A$200 million ($138.

AFG did not immediately respond to a Reuters request for comment.


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Article Details

Category: Economy

Topics: Staff Volt Neobank Returning Mediacorp Million February Numbers Intended Australia Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-29, 08:31:46

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 2 minutes read

Article Length: 271 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 19382

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About Channel News Asia

Channel News Asia Logo

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 57 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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