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Upgrading of Crédit Agricole (Suisse) SA to a licensed bank

Press Releases

15 Mar 2011

Upgrading of Crédit Agricole (Suisse) SA to a licensed bank

The Hong Kong Monetary Authority announced today (Tuesday) that the Monetary Authority has upgraded Crédit Agricole (Suisse) SA's (CAS) restricted banking licence to a banking licence under the Banking Ordinance. The upgrade took effect today, 15 March 2011.

CAS is incorporated in Switzerland and has operated a branch in Hong Kong under a restricted banking licence since 2007.

After the upgrade of CAS, the number of licensed banks in Hong Kong has increased to 147 while the number of restricted licence banks in Hong Kong has decreased to 20.

Hong Kong Monetary Authority
15 March 2011

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Last revision date : 15 March 2011