Granting of banking licence to CANARA BANK

The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to CANARA BANK (CB) under the Banking Ordinance. The granting of this banking licence took effect on 19 July 2006.

CB was incorporated in India in 1906. According to the July 2005 issue of The Bankers, CB was the 3rd largest bank in India in terms of total assets.

After the granting of a banking licence to CB, the number of licensed banks in Hong Kong has increased to 135.

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Officer (Press), at 2878 1802

Hong Kong Monetary Authority
20 July 2006