ARTICLE · 08 DECEMBER 1997
Record Number Of Banks
GuernseyAntitrust/Competition Law
A further four banking licences have been issued in Guernsey bringing the number of banks in the Island to a record number of 78.
First, D.A.H. Hambro (Channel Islands) Limited established a subsidiary. It is ultimately owned by three banking groups: Hambros, DAH Sing and Abbey National and is the sister company of the Hong Kong bank, DAH Private Bank Ltd.
Second, Fiduciary Trust International, a New York State-registered bank has established a branch on the Island.
A third licence was approved for the opening of a branch of RBSI Custody Bank Limited, part of the Royal Bank of Scotland Group.
Finally, Canadian Imperial Bank of Commerce (Switzerland) Limited was licensed to operate a Guernsey branch thus adding to the presence of CIBC which established a subsidiary in the Island several years ago.
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