Hong Kong maintains a three-tier system of deposit-taking institutions, i.e. licensed banks, restricted licence banks and deposit-taking companies. They are collectively known as authorized institutions supervised by the Hong Kong Monetary Authority (HKMA).
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As at 16 January 2015, there were 159 licensed banks, 21 restricted licence banks and 23 deposit-taking companies in business, constituting a total of 203 authorized institutions with 1,372 local branches. In addition, there are 63 local representative offices of foreign banks in Hong Kong.
Licensed banks
Only licensed banks may operate current and savings accounts, accept deposits of any size and maturity from the public, and pay or collect cheques drawn, or paid in, by customers.
Licensed banks incorporated in Hong Kong
Licensed banks incorporated outside Hong Kong
Restricted licence banks incorporated in Hong Kong
Restricted licence banks incorporated outside Hong Kong
Deposit-taking companies (all incorporated in Hong Kong)
Deposit-taking companies are mostly owned by, or associated with, banks. These companies engage in specialized activities, such as consumer finance and securities business. They may take deposits of HK$100,000 or above with an original term of maturity of at least three months.
Local representative offices (all incorporated outside Hong Kong)
Overseas banks may establish local representative offices in Hong Kong, but they are not allowed to engage in any banking business and their role is confined mainly to liaison work between the bank and its customers in Hong Kong.
Approved money brokers
- BGC Capital Markets (Hong Kong) Limited
- Bloomberg Tradebook Hong Kong Limited
- Currenex, Inc.
- EBS Service Company Limited
- FX Alliance, Llc
- Fxmarketspace Limited
- GFI (HK) Brokers Limited
- ICAP (Hong Kong) Limited
- iMarkets Limited
- Korea Money Brokerage Corporation
- Lotus Forex Limited
- Nittan Capital Asia Limited
- Reuters Transaction Services Limited
- SMBC Capital Markets Limited
- Tradition (Asia) Limited
- Tullett Prebon (Hong Kong) Limited
Defunct, renamed or acquired banks
- Asia Commercial Bank
- Bank of America (Asia)
- Bank of Canton
- Bank of China Group
- Bank of Credit and Commerce International (Hong Kong) Limited
- Belgian Bank
- Canton Trust Bank
- Chartered Bank of India, Australia and China
- Chase Manhattan Bank, Hong Kong branch
- China & South Sea Bank Limited
- China State Bank Limited
- Chekiang First Bank
- D.A.H. Private Bank Limited
- Daiwa Bank, Hong Kong branch
- Dao Heng Bank Limited
- DBS Kwong On Bank
- Far East Bank
- First Pacific Bank
- Flemings Investment Banking, Hong Kong branch
- Fortis Bank Asia HK
- Hang Lung Bank
- Hongkong Chinese Bank
- Hongkong Industrial and Commercial Bank Limited
- Hong Nin Savings Bank
- Hua Chiao Commercial Bank Limited
- International Bank of Asia Limited
- Jian Sing Bank Limited
- Kincheng Banking Corporation
- Kwangtung Provincial Bank
- Kwong On Bank
- Mercantile Bank of India, London and China, Hong Kong branch
- Mingde Bank
- National Bank of China
- National Commercial Bank Limited
- National Industrial Bank of China
- Overseas Trust Bank Limited
- Oriental Bank Corporation, Hong Kong branch
- Po Sang Bank
- Sin Hua Bank Limited
- Sun Hung Kai Bank Limited
- Union Bank of Hong Kong Limited
- United Chinese Bank
- Wing On Bank
- Yien Yieh Commercial Bank
See also
- Economy of Hong Kong
- List of Hong Kong companies
- Hong Kong Association of Banks
- List of insurance companies in Hong Kong
References
External links
- Hong Kong Monetary Authority (HKMA)
- Banks in Hong Kong
- List of Banks and Branches in Hong Kong
