Granting of banking licence to HSBC Bank plc

The Hong Kong Monetary Authority announced today (29 December 2000) that the Monetary Authority has granted a banking licence to HSBC Bank plc under the Banking Ordinance. This grant of banking licence took effect on 28 December 2000.

Formerly known as Midland Bank plc, HSBC Bank plc is a UK based bank wholly-owned by HSBC Holdings plc. Together with its subsidiary and associated companies, the bank provides a wide range of banking, treasury and financial services to personal and corporate customers. It is the HSBC Group's principal operating subsidiary in Europe. HSBC Bank plc has maintained a Hong Kong representative office since 1991.

After the granting of a banking licence to HSBC Bank plc, the number of banks in Hong Kong has increased to 154, of which 31 are incorporated in Hong Kong.

For further enquiries, please contact:

Caitlin Wong, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
29 December 2000