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
Share acquisition best route for foreign banks in Vietnam
Despite Vietnam's novel WTO membership, the best route for foreign banks will continue to be share acquisition of domestic financial institutions, due to strict governance. The establishment of wholly-foreign owned bank subsidiaries still faces technical hurdles that are hard to overcome, said Le Duc Thuy, governor of the State Bank of Vietnam. … [Read more...] about Share acquisition best route for foreign banks in Vietnam
Deutsche named Best Foreign Investment Bank in Vietnam
Germany's Deutsche Bank has been hailed as the best foreign investment bank in Vietnam by Finance Asia, the region's leading financial publication. The commendation comes as the German banks third prestigious award this year. Finance Asia noted that Deutsche Bank won the award for helping Vietnamese enterprises access foreign attractive investment funds and implement restructuring. … [Read more...] about Deutsche named Best Foreign Investment Bank in Vietnam