Granting of banking licence to The Shanghai Commercial & Savings Bank, Ltd.

Press Releases

03 Sep 2007

Granting of banking licence to The Shanghai Commercial & Savings Bank, Ltd.

The Hong Kong Monetary Authority announced today (Monday) that the Monetary Authority has granted a banking licence to The Shanghai Commercial & Savings Bank, Ltd. (SCSB) under the Banking Ordinance. The granting of this banking licence took effect on 31 August 2007.

SCSB was incorporated in Taiwan in 1954. According to the July 2007 issue of The Banker, SCSB is the 11th largest bank in Taiwan and the 290th largest bank in the world in terms of tier one capital.

After the granting of a banking licence to SCSB, the number of licensed banks in Hong Kong has increased to 143.

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
3 September 2007

Latest Press Releases
Last revision date : 03 September 2007