|
|
| Last updated at: (Beijing Time) Friday, November 16, 2001 |
HKMA Grants Banking License to Switzerland-based Bank |
|
The Hong Kong Monetary Authority announced Friday that it has granted a banking license to EFG Private Bank SA (EFGPB) under the Banking Ordinance.
|
The Hong Kong Monetary Authority announced Friday that it has granted a banking license to EFG Private Bank SA (EFGPB) under the Banking Ordinance.
With the granting of a banking license to EFGPB, the number of licensed banks in Hong Kong has increased to 149. This grant of banking license took effect on November 14, 2001. EFGPB is a subsidiary of EFG Bank European Financial Group (EFGBG), both of which are banks incorporated in Switzerland subject to the prudential supervision of the Swiss Federal BankingCommission.
According to the Banker, July 2001 issue, EFGBG ranks 5th and 6th respectively in terms of tier one capital and total assets in Switzerland.
|
|
|
|
|