The Hong Kong Monetary Authority announced today (3 July 2000) that it has granted the transfer of the banking licence of Natexis Banque (NB) to Natexis Banques Populaires (NBP) under the Banking Ordinance. This grant of transfer took effect on 30 June 2000, the date on which the merger of NB into NBP ("the Merger") became effective in France.
Upon the Merger, NBP became the surviving banking entity, while NB was dissolved. The transfer of the banking licence of NB to NBP enables NBP to continue to carry out the business activities of the Hong Kong Branch of NB (NBHK) in Hong Kong. NBP is under the direct supervision of the Commission Bancaire, the banking supervisory body in France. Subsequent to the transfer of banking licence, the Hong Kong Branch of NBP will continue to maintain NBHK's business lines with a focus on wholesale and commercial banking business including syndication loans, commercial loans and trade financing.
Since this involves the transfer of an existing banking licence, the total number of banks in Hong Kong remains unchanged, currently 153.
For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Caitlin Wong, Manager (Press), at 2878 1687
Hong Kong Monetary Authority
3 July 2000
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