HKMA grants banking licence to Goldman Sachs Asia
(24 August 2015 – Hong Kong) The Hong Kong Monetary Authority (HKMA) announced on 19 August that it had 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 from 19 August 2015.
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 fifth largest banking group in the United States 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 now 24.
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