The Monetary Authority has granted a banking licence to ING Asia Private Bank, bringing the total number of licensed banks in Hong Kong to 143.
The bank is incorporated in Singapore and is a wholly owned subsidiary of ING Bank N.V.
According to the July 2007 issue of The Banker, ING Bank N.V. is the second-largest bank in the Netherlands and the 15th-largest in the world in terms of total assets.
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