Granting of Restricted Banking Licence to BNS Hong Kong Limited

The Hong Kong Monetary Authority announced today (December 10) that the Monetary Authority has granted a restricted banking licence to BNS Hong Kong Limited (BNSHK) under the Banking Ordinance. This grant of restricted banking licence took effect on 6 December 2001.

BNSHK is a company incorporated in Hong Kong and a wholly owned subsidiary of The Bank of Nova Scotia (BNS), a bank incorporated in Canada and a bank in Hong Kong.

BNSHK will focus its activities on lending to local and regional customers.

After the granting of a restricted banking licence to BNSHK, the number of restricted licence banks in Hong Kong has increased to 49.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
10 December 2001