Cathay Bank, a wholly owned subsidiary of Cathay General Bancorp, has been granted a banking license from the Hong Kong Monetary Authority under the Banking Ordinance.
This additional granting of a banking license to the California state-chartered bank now brings the number of licensed banks in Hong Kong to 138.
According to figures from The Banker quoted in a Hong Kong Monetary Authority press release, Cathay General Bancorp is the 116th largest banking group in the US and the 680th largest banking group in the world in terms of assets.