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The Hong Kong Monetary Authority announced today that the Monetary Authority has granted a banking licence to ICICI BANK LIMITED (ICICI) under the Banking Ordinance. The granting of this banking licence took effect on October 10 2005.
ICICI is incorporated in India in 1994. According to The Bankers, July 2005 issue, ICICI was the second largest bank in India in terms of tier 1 capital.
After the granting of a banking licence to ICICI, the number of licensed banks in Hong Kong has increased to 132.
For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802
Ends/Wednesday, October 12, 2005
Issued at HKT 16:31
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