Granting of banking licence to ING ASIA PRIVATE BANK LTD

Press Releases

20 Mar 2008

Granting of banking licence to ING ASIA PRIVATE BANK LTD

The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to ING ASIA PRIVATE BANK LTD (IAPB) under the Banking Ordinance. The granting of this banking licence took effect on 19 March 2008.

IAPB is incorporated in Singapore and a wholly owned subsidiary of ING Bank N.V. According to the July 2007 issue of The Banker, ING Bank N.V. is the 2nd largest bank in the Netherlands and the 15th largest bank in the world in terms of total assets.

After the granting of a banking licence to IAPB, the number of licensed banks in Hong Kong has increased to 143.

For further enquiries, please contact:
Peggy Lo, Manager (Press), at 2878 1687 or
Hing-fung Wong, Manager (Press), at 2878 1802

Hong Kong Monetary Authority
20 March 2008

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Last revision date : 20 March 2008