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FINANCIAL SERVICES | Tony Chua, Hong Kong
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HKMA grants Sweden's SEB banking licence

Hong Kong now has 150 licenced banks.

The Monetary Authority on Monday granted a banking licence to Skandinaviska Enskilda Banken AB.

SEB is incorporated in Sweden. According to the July issue of The Banker, it is the second largest banking group in Sweden in terms of Tier-1 capital, according to an HKMA report.

The move brings the number of licensed banks in Hong Kong to 150.

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