Granting of banking licence to Ta Chong Bank, Ltd.
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (March 10) that the Monetary Authority has granted a banking licence to Ta Chong Bank, Ltd. (TCB) under the Banking Ordinance. The granting of this banking licence takes effect today.
TCB is incorporated in Taiwan. According to the July 2013 issue of The Banker, it is the 20th largest bank in Taiwan and the 608th largest bank in the world in terms of Tier 1 capital.
After the granting of a banking licence to TCB, the number of licensed banks in Hong Kong is 158.
Ends/Monday, March 10, 2014
Issued at HKT 17:00
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