Granting of banking licence to Shanghai Pudong Development Bank Co., Ltd.
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (May 16) that the Monetary Authority has granted a banking licence to Shanghai Pudong Development Bank Co., Ltd. (SPDB) under the Banking Ordinance. The granting of this banking licence took effect on May 16, 2011.
SPDB is incorporated in Mainland China. According to the July 2010 issue of The Banker, SPDB is the 10th largest bank in Mainland in terms of Tier-1 capital.
After the granting of a banking licence to SPDB, the number of licensed banks in Hong Kong has increased to 149.
Ends/Monday, May 16, 2011
Issued at HKT 16:31
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