Malaysian bank gets Vietnam bank licence

Hong Leong bank of Malaysia gets approval for a 100% foreign-owned commercial bank in Vietnam.

Malaysia's Hong Leong Bank has announced that it will begin operations in Vietnam by the end of this year, thanks to a recent approval from the Vietnamese government for it to open a 100% foreign-owned commercial bank in the country.

The bank will establish Hong Leong Bank Vietnam with a capital base of Vnd1 trillion $58 million.

Group managing director Yvonne Chia said in a statement the group plans to expand its branch network over the next few years...

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