Indian bank granted banking license in HK
18/5/2007 15:32
The Hong Kong Monetary Authority announced yesterday that it had
granted a banking license to India' s Punjab National Bank (PNB), and the
license had taken effect on May 16.
PNB was incorporated in India in 1894. It
is the 4th largest bank in India in terms of total assets, according to The
Bankers, July 2006 issue.
After the granting of a banking license to PNB, the
number of licensed banks in Hong Kong has increased to
139.
Xinhua
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