Granting of banking licence to Standard Bank Plc
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (March 24) that the Monetary Authority has granted a banking licence to Standard Bank Plc (SBP) under the Banking Ordinance. The granting of this banking licence took effect on March 24, 2011.
SBP is incorporated in the United Kingdom. According to the July 2010 issue of The Banker, SBP is the 11th largest bank in the United Kingdom in terms of Tier-1 capital.
After the granting of a banking licence to SBP, the number of licensed banks in Hong Kong has increased to 148.
Ends/Thursday, March 24, 2011
Issued at HKT 16:36
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