Clarification of Question by
lase-ga
on
09 Jul 2003 20:51 PDT
There is a 3-tier system of deposit-taking institutions in Hong Kong,
namely, licensed banks, restricted licence banks, deposit-taking
companies. They are collectively known as authorised institutions.
I define private banks as those authorised institutions that offer
private, non-retail banking services to high net-worth individuals.
For example, HSBC Republic is the private banking arm of publicly
listed HSBC. It is prefectly OK to be a publicly listed banks, or
foreign state-owned banks in Hong Kong, and their related
subsidiaries.