The Hong Kong Monetary Authority has granted a banking license to BNP Paribas Securities Services (BPSS) under the Banking Ordinance.
The granting of this banking license took effect on 8 May 2009. BPSS is subsidiary of BNP PARIBAS (BP).
According to the July 2008 issue of The Banker, BP is the 2nd largest bank in France and the 11th largest bank in the world in terms of tier-1 capital.
After the granting of a banking license to BPSS, the number of licensed banks in Hong Kong has increased to 143.
D.C.