Government to introduce resolution to adjust fees payable by banks and other financial institutions to Government prescribed in Second Schedule to Banking Ordinance
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Under the Ordinance, authorized institutions (AIs) (including licensed banks, restricted licence banks and deposit-taking companies), LROs and AMBs are required to pay to the Director of Accounting Services the licence fees, registration fees, establishment fees for local and overseas branches or overseas representative offices, and approval fees, upon authorisation or approval by the Monetary Authority, and the relevant renewal fees upon the anniversary in each year of the date on which an AI was authorised (including the fees of relevant local and overseas branches and overseas representative offices), or the date on which an LRO or AMB was approved. The levels of the fees are specified in the Second Schedule to the Ordinance.
As announced in the 2024-25 Budget, the Government will review different fees and charges in a timely manner. Following the adjustments in 2024, the Hong Kong Monetary Authority (HKMA) has recently completed a further review of the fees prescribed in the Second Schedule to the Ordinance, and proposes to raise the related fees.
A Government spokesperson said, "In making the proposal, the HKMA has taken into consideration relevant factors, including general price inflation, corresponding fee levels in other jurisdictions, and the operating cost of the financial institutions. The impact on Hong Kong's competitiveness as an international financial centre has also been assessed and taken into account. As the total licence fees account for an insignificant portion of the total operating expenses of AIs and AMBs, we expect that the impact on the affected financial institutions will be minimal. The financial competitiveness of Hong Kong will not be affected."
Subject to the legislative process, the Government will move the resolution in LegCo on July 8.
Ends/Wednesday, June 17, 2026
Issued at HKT 17:40
Issued at HKT 17:40
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