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UK’s Barclays (BARC) granted Australian banking licence

By Jenni Reid

11:56, 20 December 2021

Barclays logo
British bank Barclays is set to open a Sydney branch in April 2022 – Photo: Shutterstock

British bank Barclays has been granted a banking licence by Australian regulators. 

Barclays said it plans to launch as a foreign bank in the country in April 2022 with a Sydney branch after being approved as an authorised deposit-taking institution (ADI).

“Australia presents tremendous growth opportunities and is an important financial services market in the region,” said Jaideep Khanna, head of Barclays Asia Pacific. 

“This foreign ADI license reinforces our commitment to Australia and enables us to proactively serve our clients with our global Corporate and Investment Bank platform, supporting their cross-border growth ambitions even further.”

Overseas growth 

The bank already has a presence in the Australian leveraged finance market, and said it was “amongst the strongest banks for offshore capital markets issuance”.

Australian operations, which were re-launched by the bank in 2018, will continue to be led by country chief executive Richard Satchwell.


40,003.85 Price
+0.920% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


0.63 Price
+0.360% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


2,195.30 Price
+1.010% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00


0.00 Price
+33.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.00000338

“Barclays has built momentum steadily in our business over the past few years. We announced our strategic investment in Barrenjoey Capital Partners in September 2020, and are already seeing results of the investment with a strong pipeline of transactions one year on,” Satchwell said. 

Like other banks looking for more revenues amid persistently low interest rates, Barclays has been boosting its high-growth overseas operations. 

Earlier this year it announced $404m in funding for its Indian division, where it wants to develop its Corporate and Investment Banking and Private Clients businesses, targeting India’s high and ultra-high net worth individuals.

It also operates in China/Hong Kong SAR, Japan and Singapore.

Read more: Barclays share price forecast

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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