Granting of banking licence to ICICI BANK LIMITED

Press Releases

12 Oct 2005

Granting of banking licence to ICICI BANK LIMITED

The Hong Kong Monetary Authority announced today that the Monetary Authority has granted a banking licence to ICICI BANK LIMITED (ICICI) under the Banking Ordinance. The granting of this banking licence took effect on 10 October 2005.

ICICI is incorporated in India in 1994. According to The Bankers, July 2005 issue, ICICI was the second largest bank in India in terms of tier 1 capital.

After the granting of a banking licence to ICICI, the number of licensed banks in Hong Kong has increased to 132.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority
12 October 2005

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Last revision date : 12 October 2005