In Vietnam, HSBC first opened an office in Saigon (now Ho Chi Minh City) in 1870. In August 1995, HSBC opened a full-service branch in Ho Chi Minh City. In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Cantho.

In Vietnam, HSBC provides clients with a full range of banking services including:

• Commercial Banking.
• Global Banking.
• Global Markets.
• Global Payments and Cash Management.
• Trade and Supply Chain.
• Securities Services.
• Personal Financial Services.

On 29 December 2005, HSBC acquired 10% share capital of Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the third largest joint stock commercial bank in Vietnam by equity. In July 2007, HSBC became the first foreign bank to increase its stake in Techcombank to 15%.

In September 2007, HSBC acquired 10% share capital of Bao Viet Holdings, becoming the sole foreign strategic partner of Vietnam’s leading insurance company.

On 03 June 2008, HSBC became the first foreign bank to obtain official approval from the State Bank of Vietnam to set up a Wholly Foreign Owned Bank in Vietnam. The Bank awaits final business registrations and hopes to become first foreign bank to operate a fully owned local entity in the fast-growing Vietnamese banking sector.

HSBC is now the largest foreign bank in Vietnam in terms of investment capital, network, product range, staff and customer base. HSBC’s history in Vietnam and knowledge of its culture reflects its commitment to delivering excellence in customer service, every time