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...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: bank licence | vietnam

Print Edition

FinanceAsia Print Edition