EXHIBIT 23.1

                         CONSENT OF INDEPENDENT AUDITORS

The Board of Directors
Cathay Bancorp, Inc.:

We consent to the incorporation by reference in the registration statement (No.
33-33767) on Form S-3 and the registration statement (No. 333-87225) on Form S-8
of our report dated January 15, 2003, relating to the consolidated statements of
condition of Cathay Bancorp, Inc. as of December 31, 2002 and 2001, and the
related consolidated statements of income and comprehensive income, changes in
stockholders' equity and cash flows for each of the years in the three-year
period ended December 31, 2002, which report appears in the December 31, 2002
annual report on Form 10-K of Cathay Bancorp, Inc.

As discussed in Note 1 to the consolidated financial statements, the Company
changed its method of accounting for goodwill and other intangible assets in
2002.

Los Angeles, California
March 13, 2003