The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to United Commercial Bank (UCB) under the Banking Ordinance. This grant of banking licence took effect on 9 July 2003.
UCB is a bank incorporated in California, the United States of America and has maintained a local representative office since 2001.
With the grant of a banking licence to UCB, the number of licensed banks in Hong Kong has increased to 137.
For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Sylvia Yip, Manager (Press), at 2878 1687
Hong Kong Monetary Authority
10 July 2003