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Granting of banking licence to Kookmin Bank
The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority announced today (October 17) that the Monetary Authority has granted a banking licence to Kookmin Bank (KB) under the Banking Ordinance. The granting of this banking licence takes effect today. 

     KB is incorporated in Korea and is wholly owned by KB Financial Group Inc. (KBFG). According to the July 2016 issue of The Banker, KBFG is the second largest banking group in Korea and the 64th largest banking group in the world in terms of Tier 1 capital.

     After the granting of a banking licence to KB, the number of licensed banks in Hong Kong is 156.
Ends/Monday, October 17, 2016
Issued at HKT 16:30
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