The Hong Kong Monetary Authority has granted a banking licence to Credit Suisse Group's Hong Kong unit.
Credit Suisse Group has operated a representative office in Hong Kong since 1988. The Hong Kong branch primarily provides private banking services, including deposits and foreign exchange, financing and investment advisory services.
Credit Suisse Group is the second largest finance based company in Switzerland and ranks in the top 20 of the world's banking groups in terms of total assets.
swissinfo with agencies