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The Hong Kong Monetary Authority announced today (February 7) that the Monetary Authority has granted a banking licence to AIG Private Bank Ltd. (AIGPB) under the Banking Ordinance. This grant of banking licence took effect on February 6, 2006.
AIGPB is a bank headquartered in Switzerland and has operated a representative office in Hong Kong since October 1985. Its principal activities are private banking, investment advisory and asset management. It is a wholly owned subsidiary of American International Group, Inc.
After the granting of a banking licence to AIGPB, the number of licensed banks in Hong Kong has increased to 133.
For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802
Ends/Tuesday, February 7, 2006
Issued at HKT 16:32
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