Granting of banking licence to Public Bank Berhad

Press Releases

15 Aug 2003

Granting of banking licence to Public Bank Berhad

The Hong Kong Monetary Authority announced today that the Monetary Authority has granted a banking licence to Public Bank Berhad (PBB) under the Banking Ordinance. This grant of banking licence took effect on 15 August 2003.

PBB is a bank incorporated in Malaysia and has been authorized as a restricted licence bank in Hong Kong since August 1990. According to The Banker, July 2003 issue, PBB respectively ranked 2nd and 3rd in Malaysia in terms of tier one capital and total assets. Its respective world rankings were 176th and 334th.

With the grant of a banking licence to PBB, the number of licensed banks in Hong Kong has increased to 136 and the number of restricted licence banks has reduced to 41 correspondingly.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
15 August 2003

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Last revision date : 15 August 2003