The Monetary Authority has granted a banking licence to BNP Paribas Securities Services from May 8, bringing the total number of licensed banks in Hong Kong to 143.

BPSS, a subsidiary of BNP PARIBAS (BP), is incorporated in France. According to the July 2008 issue of The Banker, it is the second-largest bank in France and the 11th largest in the world in terms of tier-one capital.