The Hong Kong Monetary Authority announced today (Wednesday) that the Monetary Authority has granted a banking licence to Pictet & Cie (Europe) S.A. (PCESA) under the Banking Ordinance. The granting of this banking licence took effect on 18 April 2012.
PCESA is incorporated in Luxembourg. It is a banking subsidiary of Pictet & Cie.
After the granting of a banking licence to PCESA, the number of licensed banks in Hong Kong has increased to 154.
Hong Kong Monetary Authority
18 April 2012