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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (May 20) that the Monetary Authority has granted a banking licence to NATIONAL BANK OF ABU DHABI (NBAD) under the Banking Ordinance. The granting of this banking licence took effect on May 19, 2009.
NBAD is incorporated in Abu Dhabi. According to the July 2008 issue of The Banker, NBAD is the 2nd largest bank in the United Arab Emirates and the 207th largest bank in the world in terms of tier-1 capital.
After the granting of a banking licence to NBAD, the number of licensed banks in Hong Kong has increased to 144.
For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Hing-fung Wong, Manager (Communications), at 2878 1802
Ends/Wednesday, May 20, 2009
Issued at HKT 19:02
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