Banking News
- India's 9th-largest bank granted license in Hong Kong
Date: 31-Aug-2007 Sources: (People's Daily)
A license has been granted to the Union Bank of India, the Hong Kong Monetary Authority announced Thursday.
The granting of this banking license took effect on Aug. 27, bringing Hong Kong's total licensed banks to 142.
The Union Bank of India was incorporated in India in 1919. According to The Bankers' July issue, it is the ninth-largest bank in India in terms of total assets.
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