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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (August 19) that the Monetary Authority has granted a restricted banking licence to Goldman Sachs Asia Pacific Company Limited (GSAPCL) under the Banking Ordinance. The granting of this restricted banking licence takes effect today.
GSAPCL is incorporated in Hong Kong. It is a wholly-owned banking subsidiary of The Goldman Sachs Group, Inc. (GS). According to the July 2015 issue of The Banker, GS is the 5th largest banking group in the U.S. and the 16th largest banking group in the world in terms of Tier 1 capital.
After the granting of a restricted banking licence to GSAPCL, the number of restricted licence banks in Hong Kong is 24.
Ends/Wednesday, August 19, 2015
Issued at HKT 17:03
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