They are active in every sector from manufacturing to services, particularly in banking where 10 licensed banks operating in the territory have German interests.
For banks incorporated outside Hong Kong applying to establish a branch in Hong Kong in the form of a licensed bank, the minimum requirement for total assets is US$16 billion.
Only licensed banks may operate current or savings accounts. They may also accept deposits of any size and any maturity from the public.
[font=Times New Roman]In many countries only licensed banks are allowed to collect deposits.
To avoid confusion with licensed banks, descriptions such as 'retail' or 'commercial' are not allowed.
The total deposit liabilities of all the licensed banks to customers at the end of December were $3,136.6 billion.
The Purchaser shall pay the balance of the purchase money by cashier order or cheque issued by a Solicitors' firm drawn on a licensed bank in Hong Kong.
The authorisation criteria for locally incorporated applicants and overseas applicants to become a licensed bank are broadly the same.
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