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The Hong Kong Monetary Authority announced today (November 20) that the Monetary Authority has granted a banking licence to UTI Bank Limited (UTI Bank) under the Banking Ordinance. The granting of this banking licence took effect on 17 November 2006.
UTI Bank was incorporated in India in 1993. According to The Bankers' Almanac, UTI Bank is the 15th largest bank in India in terms of total assets at 31 March 2006.
After the granting of a banking licence to UTI Bank, the number of licensed banks in Hong Kong has increased to 137.
For further enquiries, please contact:
Ying-ying Cheng, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Ends/Monday, November 20, 2006
Issued at HKT 16:30
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