malaysian-bank-gets-vietnam-bank-licence

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 and ôgrow Hong Leong Bank Vietnam into an embedded local bank in Vietnamö.

The bank added that it wanted to tap into the promising and expanding Vietnamese market, which has a population of over 85...
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