Granting of banking licence to TAISHIN INTERNATIONAL BANK CO., LTD

Press Releases

18 Feb 2003

Granting of banking licence to TAISHIN INTERNATIONAL BANK CO., LTD

The Hong Kong Monetary Authority announced today (Tuesday) that the Monetary Authority has granted a banking licence to TAISHIN INTERNATIONAL BANK CO., LTD (TIB) under the Banking Ordinance. This grant of banking licence took effect on 17 February 2003.

TIB is a bank incorporated in Taiwan and has operated a representative office in Hong Kong since October 1998. According to The Banker, July 2002 issue, TIB ranks 15th and 18th respectively in terms of tier one capital and total assets in Taiwan. Its respective world rankings are 349th and 463rd.

With the grant of a banking licence to TIB, the number of licensed banks in Hong Kong has increased to 135.

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
18 February 2003

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Last revision date : 18 February 2003