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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (May 8) that the Monetary Authority has granted a banking licence to CIMB Bank Berhad (CIMB Bank) under the Banking Ordinance. The granting of this banking licence takes effect today.
CIMB Bank is incorporated in Malaysia. It is a subsidiary of CIMB Group Sdn Bhd. According to the July 2012 issue of The Banker, CIMB Group Sdn Bhd is the third largest bank in Malaysia and the 185th largest bank in the world in terms of Tier 1 capital.
After the granting of a banking licence to CIMB Bank, the number of licensed banks in Hong Kong has increased to 155.
Ends/Wednesday, May 8, 2013
Issued at HKT 16:51
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