trending Market Intelligence /marketintelligence/en/news-insights/trending/iXUGR6ulp5-Gu9ZZeRQvfA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Bangladesh regulator rejects City Bank's request to set up Hong Kong unit

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Bangladesh regulator rejects City Bank's request to set up Hong Kong unit

Bangladesh's central bank rejected City Bank Ltd.'s application to set up a subsidiary in Hong Kong, The Daily Star reported, citing a report from the central bank.

The Bangladesh Bank said it does not see a need for a local bank to set up a unit in Hong Kong in view of the country's declining imports from the city. Currently, three Bangladeshi banks operate offices in Hong Kong, the publication reported.

City Bank originally filed its application with the central bank in October 2016. Mashrur Arefin, additional managing director and chief communications officer of City Bank, said the bank plans to ask the central bank to reconsider its request.