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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (December 10) that the Monetary Authority has granted a banking licence to Taiwan Shin Kong Commercial Bank Co., Ltd. (SKCB) under the Banking Ordinance. The granting of this banking licence took effect on December 10, 2010.
SKCB is a bank incorporated in Taiwan and a wholly-owned subsidiary of Shin Kong Financial Holding Co., Ltd. According to the July 2010 issue of The Banker, SKCB is the 18th largest bank in Taiwan and the 663rd largest bank in the World in terms of tier-1 capital.
After the granting of a banking licence to SKCB, the number of licensed banks in Hong Kong has increased to 146.
Ends/Friday, December 10, 2010
Issued at HKT 19:15
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