HSBC Named as Best Retail Bank in Vietnam

Singapore’s Asian Banker financial magazine has honored Hong Kong and Shanghai Banking Corp (HSBC) as the best retail bank in Vietnam in 2006.

 

The award is the recognition of HSBC’s excellent retail banking in the Asia Pacific region. 

 

HSBC is praised for its remarkable financial performance and transparency in sustainable development strategy, risk management, initiation of new banking products, and proper investment in human resource training.

 

HSBC is operating two branches in Vietnam, one in Hanoi and another in Ho Chi Minh City, and a representative office in Can Tho. The bank plans to open five to ten branches in the country in the next four years.

 

The world's third-largest bank has got permission from the State Bank of Vietnam to raise its ownership to 15 per cent stake in the Technological and Commercial Joint Stock Bank (Techcombank), following an acquisition of an additional 5 per cent for (US$33.7 million). (Young People)