Granting of banking licence to International Bank of Taipei

Press Releases

04 Feb 2003

Granting of banking licence to International Bank of Taipei

The Hong Kong Monetary Authority announced today (Tuesday) that the Monetary Authority has granted a banking licence to International Bank of Taipei (IBT) under the Banking Ordinance. This grant of banking licence took effect on 30 January 2003.

IBT is a bank incorporated in Taiwan and has been authorized as a restricted licence bank in Hong Kong since 23 October 1997. According to The Banker, July 2002 issue, IBT respectively ranked 14th and 17th in Taiwan in terms of tier one capital and total assets. Its respective world rankings were 342nd and 453rd.

With the granting of a banking licence to IBT, the number of licensed banks in Hong Kong has increased to 134. Accordingly, the number of restricted licence bank has declined to 45.

For further enquiries, please contact:

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

Hong Kong Monetary Authority
4 February 2003

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Last revision date : 04 February 2003