- 27 -
Bank Brussels Lambert S.A. granted licence
A Government spokesman said today (Friday) that Bank Brussels Lambert S.A. (BBL) had been granted a banking licence to conduct business in Hong Kong.
BBL was incorporated in Belgium. It ranks 150th in the world and fourth in Belgium in terms of capital. It operates 964 domestic branches and has overseas branches in the United Kingdom, the USA, Singapore, Italy and Spain.
In Hong Kong, BBL has been operating a representative office since October 1985. The bank expects that by upgrading to a branch bank, it would be able better to serve its clients with business transactions in Hong Kong, China and Taiwan.
The principal business of the proposed branch will include trade financing, foreign exchange, money market transactions, corporate and private banking business. It will also provide support to the bank's Beijing Representative Office which was opened in October last year.
The spokesman said the continuing interest of foreign banks in entering the local market reflected Hong Kong's continued importance and attractiveness as a major international financial centre. The licence for BBL is the fourth banking licence granted in 1995.
There are now 183 licensed banks in Hong Kong, of which 152 are incorporated outside the territory.
End/Friday, July 7, 1995
Central and Western District Health Festival
A two-week Health Festival will be launched in the Central and Western District on Sunday to arouse health consciousness and promote a better understanding of health education.
Part of the festival will focus on two funfair days on July 9 and July 23 from 11 am to 5 pm in the Hong Kong Park Indoor Games Hall and Western Park Indoor Games Hall respectively.