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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (July 20) that the Monetary Authority has granted a banking licence to Bank Sarasin & Cie AG (BSC) under the Banking Ordinance. The granting of this banking licence took effect on July 20, 2009.
BSC is incorporated in Switzerland, with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) being its ultimate holding company. According to the July 2008 issue of The Banker, Rabobank Group is the thrid largest bank group in the Netherlands and the 20th largest bank group in the world in terms of tier-1 capital.
After the granting of the banking licence to BSC, the number of licensed banks in Hong Kong has increased to 145.
For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Hing-fung Wong, Manager (Communications), at 2878 1802
Ends/Monday, July 20, 2009
Issued at HKT 18:41
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