Granting of banking licence to Union Bancaire Privée, UBP SA
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (February 5) that the Monetary Authority has granted a banking licence to Union Bancaire Privée, UBP SA (UBP) under the Banking Ordinance. The granting of this banking licence takes effect today.
UBP is incorporated in Switzerland. According to the July 2015 issue of The Banker, it is the 19th largest bank in Switzerland and the 476th largest bank in the world in terms of Tier 1 capital.
After the granting of a banking licence to UBP, the number of licensed banks in Hong Kong is 157.
Ends/Friday, February 5, 2016
Issued at HKT 17:31
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