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Traditional ChineseSimplified ChineseText onlyPDARSS
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July 25, 2008
Banking
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Shinhan Bank upgraded to licensed bank
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Monetary Authority logo

Shinhan Bank has been upgraded from a restricted licence bank to a licensed bank, the Monetary Authority announces.

 

The bank is incorporated in Korea and has operated a branch in Hong Kong under a restricted banking licence since November 2006.

 

According to the July 2007 issue of The Banker, it is the third largest bank in Korea and the 76th largest bank in the world in terms of tier-one capital.

 

The number of licensed banks in Hong Kong now stands at 146 while the number of restricted-licence banks in Hong Kong has fallen to 28.

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