Irish bank granted banking license in Hong Kong

The Monetary Authority of the Hong Kong Special Administrative Region said on Friday it had granted a banking license to DEPFA Bank.

DEPFA was incorporated in Ireland in 2001. According to the July 2006 issue of The Banker, it is the 157th-largest bank in the world in terms of tier-one capital.

After the granting of a banking license to DEPFA Bank, the number of licensed banks in Hong Kong has increased to 140.

Source: Xinhua