The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a restricted banking licence to RBC Capital Markets (Hong Kong) Limited (CMHK) under the Banking Ordinance. The granting of this restricted banking licence takes effect today (1 November 2012).
CMHK is incorporated in Hong Kong. It is a wholly-owned banking subsidiary of the Royal Bank of Canada (RBC). According to the July 2012 issue of The Banker, RBC is the largest bank in Canada and the 35th largest bank in the world in terms of Tier-1 capital.
After the granting of a restricted banking licence to CMHK, the number of restricted licence banks in Hong Kong has increased to 21.
Hong Kong Monetary Authority
1 November 2012