HKMA grants banking licence to Bank Julius Baer

The lender has maintained local representative office in 2006 before securing licence 13 October.

The Hong Kong Monetary Authority announced today (Wednesday) that the Monetary Authority has granted a banking licence to Bank Julius Baer & Co. Ltd. (BJBC) under the Banking Ordinance. The granting of this banking licence took effect on 13 October 2010, according to an HKMA report.

BJBC is a bank incorporated in Switzerland and has maintained a local representative office in Hong Kong since 2006.
After the granting of a banking licence to BJBC, the number of licensed banks in Hong Kong has increased to 147.