List of All Banks in Hong Kong (Updated)

The Hong Kong Monetary Authority (HKMA) is the main authority or financial board of Hong Kong. It is the central bank of Hong Kong and is a government-owned organization. The HKMA was established on 1st April 1993.

– The HKMA issues currency and banknotes to ensure currency stability, promote efficiency, integrity, maintain foreign exchange reserves and has many other responsibilities like regulating banking activities in Hong Kong.

– The banking system in Hong Kong can be divided into three layers: Licensed banks, Restricted license banks and Deposit-taking banks.

– The HKMA is responsible for regulating the banking activities in Hong Kong.

– Banks in Hong Kong have to maintain a minimum paid-up capital of $100 million and with certain other criteria, they can apply for licensing from the HKMA.

– Restricted license banks are those who cannot issue banknotes or accept fixed deposits but they can take offshore deposits as well as offer loans, trade funds and provide investment services.

– Deposit-taking banks are not allowed to do lending business but take only deposit money such as saving account balances etc., This title will list out all the licensed banks operating currently in Hong Kong.

  • Licensed bank Licensed banks in Hong Kong offer savings and current accounts. They perform routine functions such as accepting deposits or collecting checks from customers. These banks have no restrictions on the acceptable deposit amount.
  • Restricted license bank Restricted banks in Hong Kong are mainly engaged in capital markets and merchant banking. Their acceptable deposit is at least HK$500,000.
  • Deposit-taking banks Companies that accept deposits are mainly banks in Hong Kong or companies linked to banks. These banks can accept deposits of at least 100,000 Hong Kong dollars, with an original maturity of at least three months. They provide professional services, including securities business and consumer finance.

All of these banks are collectively known as authorized institutions that are controls by the Hong Kong Monetary Authority (HKMA). In this post, you will get all the information’s about Banks in Hong Kong.

Read Also: List of Banks in Brunei

The Hong Kong Monetary Authority (HKMA)

Banks in Hong Kong

Al a glance The Hong Kong Monetary Authority (HKMA) Information.

Headquarters:    International Finance Centre
Established:       1 April 1993
Chief Executive: Eddie Yue
Central bank of Hong Kong
Currency:’          Hong Kong dollar
Bank rate:          0.50%
Interest :            None

List of all Banks in Hong Kong

Only licensed banks are allowed to operate savings and current accounts and accept deposits of any amount due to maintaining banking systems. Customers can draw cheques to withdraw money at banking time. these are the activities of licensed banks.

Incorporated in Hong Kong

Incorporated outside Hong Kong

Restricted license banks

Incorporated in Hong Kong

Incorporated outside Hong Kong

Deposit-taking companies

Local representative offices

These are the best and selected banks in Hong Kong. You can visit the site to get more information. All links and information are updated herewith.

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