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HK grants banking license to National Bank of Abu Dhabi |
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21:07, May 20, 2009 |
The Hong Kong Monetary Authority announced Wednesday that it has granted a banking license to National Bank of Abu Dhabi (NBAD), and the license took effect on Tuesday.
NBAD is incorporated in Abu Dhabi. According to the July 2008 issue of The Banker, NBAD is the 2nd largest bank in the United Arab Emirates and the 207th largest bank in the world in terms of tier-1 capital.
After the granting of a banking license to NBAD, the number of licensed banks in Hong Kong has increased to 144.
Source: Xinhua
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