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The Hong Kong Monetary Authority announced today (August 2) that the Monetary Authority has granted a restricted banking licence to Shinhan Bank (SB) under the Banking Ordinance. The granting of this restricted banking licence took effect on August 1, 2006.
SB was incorporated in South Korea in 1897. According to the July 2006 issue of The Banker, SB was the second largest bank in South Korea in terms of total assets.
After the granting of a restricted banking licence to SB, the number of restricted licence bank in Hong Kong has increased to 32.
For further enquiries, please contact:
Ying-ying Cheng, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Ends/Wednesday, August 2, 2006
Issued at HKT 16:33
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