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CIC Granted License in Hong Kong
Hong Kong Monetary Authority (HKMA) has granted a banking license to Credit Industriel et Commercial (CIC) under the Banking Ordinance. After granting this license, the number of licensed banks in Hong Kong is 157. CIC is incorporated in France and is part of the Crédit Mutuel Group (CM Group).
Credit Industriel et Commercial (CIC) is one of the largest banking group in France, consisting of seven regional banks which operate across France through a network of 1,844 branches serving approximately 2.7 million retail clients. It was founded in 1859 through a decree signed by Napoleon III. There are mainly five business lines which CIC focused on: Private Banking, Corporate Finance, Structured Finance, Treasury, and SME’s International Development.
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