A subsidiary of
Citicorp
Barley Mill Plaza
4303 Lancaster Pike Wilmington, Delaware 19805
Annex B
Citicorp Banking Corporation
18th August, 1983
His Excellency The Governor Sir Edward Youde, KCMG, MBE Government House Hong Kong
Through
Mr. Colin D.W. Martin, JP Banking Commissioner 1604 Hang Chong Building 5 Queen's Road Central Hong Kong
Your Excellency:
Citicorp Banking Corporation ("CBC") hereby applies for a license under Section 7 of the Banking Ordinance (the "Ordinance") to conduct a commercial banking business in Hong Kong through establishment of a branch of CBC. CBC is an offshore bank (such term being used herein to refer to a corporation established in a jurisdiction but conducting all of its banking activities outside of that jurisdiction) formed under the laws of the State of Delaware in the United States and a wholly-owned subsidiary of Citicorp. As of December 31, 1982 CBC had total assets of US$ 12,632 million.
CBC believes that it complies fully with each of the requirements of the Ordinance and related administrative policies and would make a positive contribution to the strength of Hong Kong's financial sector and further enhance Hong Kong's reputation as a leading center of international finance. Accordingly, CBC believes the application should be approved.
This application reflects the continued and expanding commitment of Citicorp and its subsidiaries to Hong Kong. Citicorp and CBC believe an expansion of Hong Kong activities to be timely and respectively suggest that approval of the application would have significant positive benefits for Hong Kong's economic and financial strength and enhance the strength
CITICORPO
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Private notes are available after approval.