Granting of Restricted Banking Licence to Taipei Business Bank

A spokesman of the Hong Kong Monetary Authority said today (24 October 1997) that Taipei Business Bank (TBB) had been granted a restricted banking licence by the Monetary Authority under the Banking Ordinance on 23 October 1997.

TBB is a specialized bank in Taiwan and listed on the Taiwan Stock Exchange. Its main business is the provision of credit facilities to small and medium-sized enterprises. TBB has been operating a representative office in Hong Kong since October 1994. With the granting of the restricted banking licence, TBB will be able to provide financial services to its customers in Hong Kong, Mainland China, and other Southeast Asian countries.

After the grant of a restricted banking licence to TBB, the number of restricted licence banks in Hong Kong has increased to 66.

Hong Kong Monetary Authority
24 October 1997