Granting of banking licence to China Minsheng Banking Corp., Ltd.
************************************************************
************************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (January 5) that the Monetary Authority has granted a banking licence to China Minsheng Banking Corp., Ltd. (CMBC) under the Banking Ordinance. The granting of this banking licence took effect on January 5, 2012.
CMBC is incorporated in Mainland China. According to the July 2011 issue of The Banker, CMBC is the 9th largest bank in Mainland China in terms of Tier 1 capital.
After the granting of a banking licence to CMBC, the number of licensed banks in Hong Kong has increased to 153.
Ends/Thursday, January 5, 2012
Issued at HKT 16:30
NNNN
