Licensed banks in Hong Kong reach 137 - HK & Macao Express - Pearl River Delta

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Licensed banks in Hong Kong reach 137

Latest Updated by 2006-08-29 09:40:01

The Hong Kong Monetary Authority announced Monday that it had granted a banking license to Bank of Baroda (BoB) under the Banking Ordinance.

After the granting, the number of licensed banks in Hong Kong increased to 137.

The granting of this banking license took effect on Aug. 25,2006, according to a press release from the authority.

BoB was incorporated in India in 1908. According to the July 2006 issue of The Banker, BoB was the sixth largest bank in Indiain terms of total assets.

Editor: Yan

By: Source:China View website

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