The International Bank of Taipei was granted a banking licence by the Monetary Authority on January 30.
The bank is ranked 14th and 17th in Taiwan respectively in terms of tier-one capital and total assets, according to the July 2002 issue of The Banker. Its respective world rankings were 342nd and 453rd.
The bank is incorporated in Taiwan and has been an authorised restricted-licence bank in Hong Kong since October 1997.
There are now 134 licensed banks and 45 restricted licence banks in Hong Kong.
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