HONG KONG, Oct. 16 (Xinhua) -- The Hong Kong Monetary Authority announced Tuesday that it has granted a banking license to Raiffeisen Bank International AG (RBI) under the Banking Ordinance.
RBI is incorporated in Austria. According to the July 2012 issue of The Banker, RBI is the third largest bank in Austria in terms of Tier 1 capital.
The granting of this banking license takes effect on Oct. 16, 2012.
After the granting of a banking license to RBI, the number of licensed banks in Hong Kong has increased to 155.
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