The State Bank of Vietnam recently reported that it has given approval to the HSBC Bank (Vietnam) Ltd. to open a branch in Da Nang and another in Can Tho. The Da Nang Branch will be at the Riverside Tower, 74 Bach Dang St., Hai Chau District and the Can Tho Branch at STS Tower, 11 Hoa Binh Boulevard, Ninh Kieu District, Can Tho.
HSBC Vietnam will be responsible for fulfilling all related legal procedures in accordance with the State Bank’s regulations on operating within the network of commercial banks. The two branches will open officially within 6 months from the date of approval of the State Bank of Vietnam.
HSBC Bank (Vietnam) Ltd, began operations in January last year, with headquarters in Ho Chi Minh City. With a registered capital of VND3,000 billion, it is 100% owned by the Hongkong and Shanghai Banking Corporation Ltd, the founding and principal members of the HSBC Group. It is now the largest foreign bank in Vietnam in terms of investment capital, network, product range, staff and customer base.
(From Da Nang Newspaper)