Mellon Officially Withdraws from Hong Kong

HONG KONG -- Hong Kong banking authorities said they revoked the banking license of Mellon Bank at the Pittsburgh-based institution's request.

The Mellon Bank Corp. subsidiary had a Hong Kong license since 1978 but stopped operating in the colony three months ago, as the bank reduced its international operations.

Hong Kong is left with 166 licensed banks, of which 136 are incorporated outside the territory.

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