Hong Kong-based financial publication Finance Asia has named HSBC Vietnam as Vietnam's best foreign bank in 2007. The bank was selected for the award based on its financial strength and performance, franchise value, acquisitions franchise, number of employees, client base, major deals won during the period and testimonials from clients. "A prestigious award for the last two consecutive years means the reconfirmation of our customers' trust as well as the high recognition from independent industry leaders for our consistent, professional, and world class services," Thomas Tobin, president and CEO of HSBC Vietnam, said. … [Read more...] about HSBC best foreign bank in Vietnam: Finance Asia
Foreign banks in vietnam
2009: A profitable year for foreign banks in Vietnam
Although the global financial and banking sector faced with numerous challenges this year, foreign credit institutions and banks have still operated fruitfully in Viêt Nam and served to bridge foreign investors with the domestic market and business community. The year 2009 marks success of foreign banks in Viet Nam Since Vietnam opened its banking sector for outside players, foreign banks have played an increasingly important role in attracting investment here. So far, 45 branches of foreign banks were licensed in the Southeast Asian country, including five foreign wholly owned banks, namely HSBC, Standard Chartered, ANZ, Shinhan và Hong Leong. In addition, over 50 representative offices of credit institutions are doing business here. As of late October 2009, compared to the same period last year, foreign credit institutions mobilized a capital source 17.8% higher than 2008. The surges in the outstanding credit and the total property were 14% and 14.9% … [Read more...] about 2009: A profitable year for foreign banks in Vietnam
A profitable year for foreign banks in Vietnam
Although the global financial and banking sector faced with numerous challenges this year, foreign credit institutions and banks have still operated fruitfully in Viêt Nam and served to bridge foreign investors with the domestic market and business community. The year 2009 marks success of foreign banks in Viet Nam Since Vietnam opened its banking sector for outside players, foreign banks have played an increasingly important role in attracting investment here. So far, 45 branches of foreign banks were licensed in the Southeast Asian country, including five foreign wholly owned banks, namely HSBC, Standard Chartered, ANZ, Shinhan và Hong Leong. In addition, over 50 representative offices of credit institutions are doing business here. As of late October 2009, compared to the same period last year, foreign credit institutions mobilized a capital source 17.8% higher than 2008. The surges in the outstanding credit and the total property were 14% and 14.9% … [Read more...] about A profitable year for foreign banks in Vietnam
Foreign banks enter Vietnam
VietNamNet Bridge – As Vietnam will integrate into the ASEAN Economic Community (AEC) in 2015, not only large corporations but also foreign banks plan to strengthen their presence or expand their scale in Vietnam.Vietnam welcomes big banks from ASEAN In early March this year, Kasikorn - one of the leading banks of Thailand - established representative offices in Hanoi and HCM City. The bank also said it would expand operations in Vietnam by opening more offices and branches after being licenced by the State Bank of Vietnam (SBV). Also in March, the Public Bank Berhad (PBB) of Malaysia was approved by SBV in principle for acquiring the capital of the Bank for Investment and Development of Vietnam (BIDV) in VID Public Bank and conducting procedures for turning this bank into a wholly foreign-owned bank in Vietnam. This will be the sixth wholly foreign-owned bank in Vietnam after HSBC, ANZ, Standard Chartered Bank, Shinhan Vietnam and Hong Leong Bank. Earlier, DBS Bank of … [Read more...] about Foreign banks enter Vietnam
Foreign banks eyeing Vietnam and Vietnamese banks
VietNamNet Bridge - Though the banking sector is facing a lot of difficulties, many foreign banks remain eager to "shake hands" with Vietnamese banks. Meanwhile, foreign banks in Vietnam say they can see bright prospects in the market. To date, Mekong Bank has several big shareholders, including Maritime Bank which now holds 10 percent of stakes of the bank. … [Read more...] about Foreign banks eyeing Vietnam and Vietnamese banks