The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to Standard Bank Plc (SBP) under the Banking Ordinance. The granting of this banking licence took effect on 24 March 2011.
SBP is incorporated in the United Kingdom. According to the July 2010 issue of The Banker, SBP is the 11th largest bank in the United Kingdom in terms of Tier-1 capital.
After the granting of a banking licence to SBP, the number of licensed banks in Hong Kong has increased to 148.
Hong Kong Monetary Authority
24 March 2011