Granting of banking licence to Taiwan Cooperative Bank, Ltd

The Hong Kong Monetary Authority announced today (Monday) that the Monetary Authority has granted a banking licence to Taiwan Cooperative Bank, Ltd. (TCB) under the Banking Ordinance. The granting of this banking licence took effect on 27 July 2007.

TCB is incorporated in Taiwan. According to The Banker, July 2007 issue, TCB is the 203^rd largest bank in the world in terms of tier one capital.

After the granting of a banking licence to TCB, the number of licensed banks in Hong Kong has increased to 141.

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
30 July 2007