Deposit-taking companies in Hong Kong increase to 34

The Hong Kong Monetary Authority announced Tuesday that it has registered Woori Global Markets Asia Limited (WGMA) as a deposit-taking company under the Banking Ordinance.

The registration took effect on Sept. 29, 2006, said a statement from the Monetary Authority.

After the granting of a deposit-taking company registration to WGMA, the number of deposit-taking companies in Hong Kong has increased to 34.

WGMA was incorporated in Hong Kong. It is a wholly owned subsidiary of Woori Bank, which is the third largest bank in South Korea and it has a branch in Hong Kong.

Source: Xinhua