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Govt grants new banking licence

The government announced Monday that it has granted a banking licence to Xinghui Bank Limited.

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UPDATED: 22 Dec 2023, 5:49 am

The government announced Monday that it has granted a banking licence to Xinghui Bank Limited.

The announcement was published in the Official Gazette (BO) in the form of an executive order dated April 25 and signed by Chief Executive Fernando Chui Sai On.

According to the executive order, the bank’s minimum share capital amounts to 100 million patacas.

The order, which allows the bank to be set up and operate locally, takes effect today.

The government did not provide any further information on Macau’s newest bank.

UPDATED: 22 Dec 2023, 5:49 am

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