hsbc-increases-its-investment-in-vietnam

HSBC increases its investment in Vietnam

The global bank signs an agreement to double its stake in Vietnam's Techcombank.
The Hongkong and Shanghai Banking Corporation HSBC plans to pay $71.5 million to double its stake in Vietnam Technological and Commercial Joint-Stock Bank Techcombank to 20%, as soon as regulations in Vietnam allow.

HSBC originally purchased a 10% interest in Techcombank in December 2005, at the time the largest stake a foreign institution could hold in a Vietnamese bank. It now plans to up its stake, though bank officials are cautious to say this all hangs on regulatory changes. In a statement on Friday January 26 the bank says, HSBC understands that draft regulations proposing to raise the foreign ownership cap are currently under review by the Vietnamese Government and this transaction is subject to...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222