The Hong Kong Monetary Authority announced today (May 11) that the Monetary Authority has granted a banking licence to BNP PARIBAS SECURITIES SERVICES (BPSS) under the Banking Ordinance. The granting of this banking licence took effect on May 8, 2009.

BPSS is incorporated in France and a subsidiary of BNP PARIBAS (BP). According to the July 2008 issue of The Banker, BP is the 2nd largest bank in France and the 11th largest bank in the world in terms of tier-1 capital.

After the granting of a banking licence to BPSS, the number of licensed banks in Hong Kong has increased to 143.