Granting of the transfer of banking licence of EQUITABLE PCI BANK, INC. to BANCO DE ORO UNIVERSAL BANK
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    The Hong Kong Monetary Authority announced today (June 1) that it has granted a transfer of the banking licence of EQUITABLE PCI BANK, INC. (EPCI) to BANCO DE ORO UNIVERSAL BANK (BDO), now known as BANCO DE ORO - EPCI, INC., under the Banking Ordinance.  The transfer took effect on May 31, 2007, the date on which the merger of the two banks became effective in the Philippines.

     The transfer of the banking licence enables BANCO DE ORO – EPCI, INC. to take up and continue the existing business of the Hong Kong Branch of EPCI.

     Following the transfer, the total number of licensed banks in Hong Kong remains unchanged at 139.

Ends/Friday, June 1, 2007
Issued at HKT 16:44

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