Granting of banking licence to HDFC BANK LIMITED

The Hong Kong Monetary Authority announced today (Monday) that the Monetary Authority has granted a banking licence to HDFC BANK LIMITED (HDFC) under the Banking Ordinance. The granting of this banking licence took effect on 3 August 2009.

HDFC was incorporated in India in 1994. According to the July 2009 issue of The Banker, HDFC is the 4^th largest bank in India and the 242^th largest bank in the world in terms of tier-1 capital.

After the granting of a banking licence to HDFC, the number of licensed banks in Hong Kong has increased to 146.

For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Hing-fung Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
3 August 2009