HSBC set to become Vietnam's first 100% foreign bank

Vietnam's State Bank approves HSBC's application to become a wholly foreign-owned bank.

HSBC announced yesterday that it has obtained official approval from the State Bank of Vietnam to set up a wholly foreign-owned bank in Vietnam, bringing the bank closer to achieving its goal of incorporating locally and strengthening its position as a leading foreign bank in Vietnam.

ôWe continue to increase our participation in VietnamÆs economy and financial markets, and I am very glad to see that our commitment to the development of the financial sector has been recognised and supported...

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