Granting of banking licence to E.Sun Commercial Bank, Ltd

Press Releases

05 Jun 2003

Granting of banking licence to E.Sun Commercial Bank, Ltd

The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to E.Sun Commercial Bank, Ltd (ESCB) under the Banking Ordinance. This grant of banking licence took effect on 3 June 2003.

ESCB is a bank incorporated in Taiwan and has been authorized as a restricted licence bank in Hong Kong since 8 February 2002. According to The Banker, July 2002 issue, ESCB respectively ranked 18th and 21st in Taiwan in terms of tier one capital and total assets. Its respective world rankings were 414th and 507th.

With the grant of a banking licence to ESCB, the number of licensed banks in Hong Kong has increased to 136 and the number of restricted licence banks has reduced to 42 correspondingly.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Sylvia Yip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
5 June 2003

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Last revision date : 05 June 2003