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The following is issued on behalf of The Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (July 30) that the Monetary Authority has granted a banking licence to Taiwan Cooperative Bank, Ltd. (TCB) under the Banking Ordinance. The granting of this banking licence took effect on July 27, 2007.
TCB is incorporated in Taiwan. According to The Banker, July 2007 issue, TCB is the 203rd largest bank in the world in terms of tier one capital.
After the granting of a banking licence to TCB, the number of licensed banks in Hong Kong has increased to 141.
For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Hing-fung Wong, Officer (Press), at 2878 1802
Ends/Monday, July 30, 2007
Issued at HKT 17:01
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