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Granting of banking licence to Shanghai Pudong Development Bank Co., Ltd

Press Releases

16 May 2011

Granting of banking licence to Shanghai Pudong Development Bank Co., Ltd

The Hong Kong Monetary Authority announced today (Monday) that the Monetary Authority has granted a banking licence to Shanghai Pudong Development Bank Co., Ltd. (SPDB) under the Banking Ordinance. The granting of this banking licence took effect on 16 May 2011.

SPDB is incorporated in Mainland China. According to the July 2010 issue of The Banker, SPDB is the 10th largest bank in Mainland in terms of Tier-1 capital.

After the granting of a banking licence to SPDB, the number of licensed banks in Hong Kong has increased to 149.

Hong Kong Monetary Authority
16 May 2011

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Last revision date : 16 May 2011