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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (August 24) that the Monetary Authority has granted a banking licence to Macquarie Bank Limited (MBL) under the Banking Ordinance. The granting of this banking licence took effect on 24 August 2011.
MBL is incorporated in Australia. It is a wholly-owned banking subsidiary of Macquarie Group Limited (MGL). According to the July 2010 issue of The Banker, MGL is the 6th largest banking group in Australia in terms of Tier-1 capital.
After the granting of a banking licence to MBL, the number of licensed banks in Hong Kong has increased to 149.
Ends/Wednesday, August 24, 2011
Issued at HKT 16:31
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