Wesfarmers Limited
(ASX:WES) will require a minimum of $50 million in Tier 1 capital for key subsidiary Coles to obtain a banking licence.
The APRA guidelines for applicants seeking to become authorised deposit-taking institutions say the regulator will assess the adequacy of start-up capital on a case by case basis depending on the scale, nature and complexity of the planned operations.
The supermarket's plans to pursue an authorised deposit-taking institution licence were reported by the media.
APRA has told media it does not comment on any applications for banking licences that might be in progress, saying only that successful applicants are added to a public register on its website.
Wesfarmers generated a net profit of $2.26 billion in fiscal 2013.
