The Hong Kong Monetary Authority has granted a banking licence to Bank Sarasin & Cie AG (BSC) under the Banking Ordinance. The granting of this banking licence took effect on 20 July 2009.
BSC is incorporated in Switzerland, with Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) being its ultimate holding company.
It has added that after the granting of a banking licence to BSC, the number of licensed banks in Hong Kong has increased to 145.
