HSBC consolidated all of its business in Vietnam into HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) and liquidated the Hongkong and Shanghai Banking Corporation, Hanoi Branch (HBAP Hanoi) on December 16. HSBC entered Vietnam in 1870 and until 2009 had two branches, one in Hanoi and one in Ho Chi Minh City. The liquidation of HBAP Hanoi will have no impact on the operations of HSBC Vietnam and the bank will continue to serve both retail and corporate customers. “This is a normal step by HSBC to consolidate all of its business in Vietnam,” Head of Communications Vietnam at HSBC Vietnam, Ms. Cao Thi Huong Giang, told VET. “With the approval of the SBV we liquidated HBAP HCMC and now, on December 16, HBAP Hanoi, to consolidate all of our business in Vietnam into HSBC Vietnam,” she went on. “HSBC Vietnam still operates and serves all retail and corporate customers as normal and is now the largest foreign bank in Vietnam in terms of capital, network, customer … [Read more...] about HSBC consolidates Vietnam business
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HSBC Vietnam named best foreign commercial bank
The Hanoitimes - HSBC Bank (Vietnam) Ltd has been awarded the title of Best Foreign Commercial Bank in Vietnam by FinanceAsia, one of Asia's leading banking and finance publications, for the 6th time in a row. Despite strong competition from other international players in an increasingly sophisticated finance and banking market, HSBC scooped the title with strong investment and efficient operations which has contributed to Vietnam's long-term economic growth.Against many rising difficulties of the economy in general and the finance and banking market in particular in 2010, HSBC expanded its product offerings to SMEs and individuals and increased the number of credit cards in force by 99 percent over the previous year."HSBC, as the largest international bank operating in Vietnam, is committed to working with the State Bank of Vietnam to help the country's economy to develop. one of HSBC's key objectives is to support the evolving needs of our personal and corporate customers … [Read more...] about HSBC Vietnam named best foreign commercial bank
HSBC opens fourth office in HCMC
HSBC opens fourth office in HCMC By Tu Tam - The Saigon Times Daily HCMC - HSBC Bank (Vietnam) Ltd. on Tuesday opened the Nguyen Van Cu transaction office, its 10th outlet in Vietnam, to fulfill its expansion plan for 2009. The Nguyen Van Cu transaction office, located at the Royal Center building at 235 Nguyen Van Cu Street in District 1, is the bank’s fourth Transaction Office in HCMC in 2009. The new transaction office will offer HSBC’s full range of personal financial services products and services to corporate customers. … [Read more...] about HSBC opens fourth office in HCMC
Boosting Reform and Enhancing Competitiveness of Vietnam
Boosting Reform and Enhancing Competitiveness of Vietnam The Vietnam Chamber of Commerce and Industry (VCCI) and the European Chamber of Commerce in Vietnam (EuroCham) have recently signed a partnership agreement called “Corporate Alliance on Administrative Procedures Reform and Competitiveness Enhancement.” The two organisations will reportedly share common interests in promoting the business environment in Vietnam to support business development and stimulate economic growth. The launch of the Corporate Alliance signifies a key step in providing a platform to engage the private sector in building and developing a strong network of partners, mobilising resources to improve advocacy and support for government-initiated public administration reform, and improving Vietnam ’s competitiveness in general. “EuroCham firmly believes in the power of partnerships and collaborative efforts for a more competitive Vietnam and is fully committed to working together with … [Read more...] about Boosting Reform and Enhancing Competitiveness of Vietnam
HSBC launches new insurance service for travelers
HSBC Bank (Vietnam) Ltd., in partnership with Vietnamese insurer Baoviet Insurance, launched on March 22 an online insurance product providing customers with a range of plans to suit budgets and travel destinations. “Travel Care is an excellent example of the benefits we can bring to our customers through our strong cooperation with our strategic partner Baoviet in Vietnam,” Tom Tobin, HSBC Vietnam’s Chief Executive Officer, said in a statement. “The past five years have seen a remarkable 20 to 30% annual growth of tourism by Vietnamese locally and abroad. HSBC understands the needs of our customers and their increasing demand for convenient, affordable travel protection products. Our customers will now be able to purchase Travel Care through our website anytime, instantly.” Key benefits include personal accident cover of up to US$300,000. For outbound packages, medical expenses can be covered up to US$150,000, including follow-up medical expenses … [Read more...] about HSBC launches new insurance service for travelers