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Reuters
Reuters
Business

Australia gives deposit-taking licence to China Everbright Bank

FILE PHOTO: Passers-by walk past a branch of China Everbright Bank in Shanghai July 26, 2010. REUTERS/Aly Song/File Photo

SYDNEY (Reuters) - Australia's banking regulator said on Friday it had given commercial lender China Everbright Bank Co Ltd <601818.SS> permission to operate in the country and take deposits from customers.

The Australian Prudential Regulation Authority said it had authorised the Beijing-based company as a foreign deposit-taking institution, adding to the list of other licensed Chinese banks in Australia, including the much larger Bank of China Ltd <601988.SS>.

(Reporting by Paulina Duran; Editing by Stephen Coates)

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