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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (August 3) that the Monetary Authority has granted a banking licence to HDFC BANK LIMITED (HDFC) under the Banking Ordinance. The granting of this banking licence took effect on August 3, 2009.
HDFC was incorporated in India in 1994. According to the July 2009 issue of The Banker, HDFC is the fourth largest bank in India and the 242th largest bank in the world in terms of tier-1 capital.
After the granting of a banking licence to HDFC, the number of licensed banks in Hong Kong has increased to 146.
For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Hing-fung Wong, Manager (Communications), at 2878 1802
Ends/Monday, August 3, 2009
Issued at HKT 17:06
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