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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (March 31) that the Monetary Authority has upgraded LLOYDS TSB BANK plc's (LTSB) restricted banking licence to a banking licence under the Banking Ordinance. The upgrade took effect today.
LTSB is incorporated in the United Kingdom and has operated a branch in Hong Kong under a restricted banking licence since 1997. According to the July 2009 issue of The Banker, LTSB is the fifth largest bank in the United Kingdom and the 38th largest bank in the world in terms of total assets.
After the upgrade of LTSB, the number of licensed banks in Hong Kong has increased to 147 while the number of restricted licence banks in Hong Kong has decreased to 24.
For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Natalie Wu, Officer (Communications), at 2878 8246
Ends/Wednesday, March 31, 2010
Issued at HKT 16:34
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