Granting of banking licence to Punjab National Bank
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The Hong Kong Monetary Authority announced today (May 17) that the Monetary Authority has granted a banking licence to Punjab National Bank (PNB) under the Banking Ordinance. The granting of this banking licence took effect on May 16, 2007.
PNB is incorporated in India in 1894. According to The Bankers, July 2006 issue, PNB is the 4th largest bank in India in terms of total assets.
After the granting of a banking licence to PNB, the number of licensed banks in Hong Kong has increased to 139.
For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Peggy Lo, Manager (Press), at 2878 1687
Ends/Thursday, May 17, 2007
Issued at HKT 16:31
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