Granting of banking licence to Land Bank of Taiwan Co., Ltd.
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    The Hong Kong Monetary Authority announced today (December 22) that the Monetary Authority has granted a banking licence to Land Bank of Taiwan Co., Ltd. (LBT) under the Banking Ordinance.  The granting of this banking licence took effect on December 21 2006.

     LBT is wholly owned by the Government of Taiwan and has maintained a representative office in Hong Kong since 1999.  According to the July 2006 issue of The Banker, LBT is the third largest bank in Taiwan and the 174th largest bank in the world in terms of total assets.

     After the granting of a banking licence to LBT, the number of licensed banks in Hong Kong has increased to 138.

Ends/Friday, December 22, 2006
Issued at HKT 16:30

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