The Hong Kong Monetary Authority announced today (Thursday) that the Monetary Authority has granted a banking licence to China Minsheng Banking Corp., Ltd. (CMBC) under the Banking Ordinance. The granting of this banking licence took effect on 5 January 2012.
CMBC is incorporated in Mainland China. According to the July 2011 issue of The Banker, CMBC is the 9th largest bank in Mainland China in terms of Tier 1 capital.
After the granting of a banking licence to CMBC, the number of licensed banks in Hong Kong has increased to 153.
Hong Kong Monetary Authority
5 January 2012