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Granting of banking licence to Industrial Bank Co., Ltd.

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority announced today (January 10) that the Monetary Authority has granted a banking licence to Industrial Bank Co., Ltd. (CIB) under the Banking Ordinance.  The granting of this banking licence takes effect today (January 10).  

     CIB is incorporated in the People's Republic of China (PRC).  According to the July 2013 issue of The Banker, it is the 10th largest bank in the PRC and the 55th largest bank in the world in terms of Tier 1 capital.

     After the granting of a banking licence to CIB, the number of licensed banks in Hong Kong is 157.

Ends/Friday, January 10, 2014
Issued at HKT 17:50


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