Granting of the transfer of banking licence of Ta Chong Bank Ltd to Yuanta Commercial Bank Co., Ltd
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The Hong Kong Monetary Authority announced today (January 2) that it has granted a transfer of the banking licence of Ta Chong Bank Ltd to Yuanta Commercial Bank Co., Ltd under the Banking Ordinance. The transfer took effect on January 1, 2018, the date on which the merger of the two banks became effective in Taiwan.
The transfer of the banking licence enables Yuanta Commercial Bank Co., Ltd to take up and continue the existing business of the Hong Kong Branch of Ta Chong Bank Ltd.
Following the transfer, the total number of licensed banks in Hong Kong remains unchanged at 155.
Ends/Tuesday, January 2, 2018
Issued at HKT 11:30
Issued at HKT 11:30
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