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Granting of banking licence to CREDIT INDUSTRIEL ET COMMERCIAL

Press Releases

12 Aug 2016

Granting of banking licence to CREDIT INDUSTRIEL ET COMMERCIAL

The Hong Kong Monetary Authority announced today (12 August 2016) that the Monetary Authority has granted a banking licence to CREDIT INDUSTRIEL ET COMMERCIAL (CIC) under the Banking Ordinance. The granting of this banking licence takes effect today (12 August 2016). 

CIC is incorporated in France. It is a part of the Crédit Mutuel Group (CM Group). According to the July 2016 issue of The Banker, CM Group is the 5th largest banking group in France and the 36th largest banking group in the world in terms of Tier 1 capital.

After the granting of a banking licence to CIC, the number of licensed banks in Hong Kong is 157.

 

Hong Kong Monetary Authority
12 August 2016

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Last revision date : 12 August 2016