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.
On 29 December 2005, HSBC acquired 10% share capital of Vietnam Technological and Commercial Joint Stock Bank (Techcombank), one of the largest joint stock commercial banks in Vietnam by equity. In July 2007, HSBC became the first foreign bank to increase its stake in Techcombank to 15%. In September 2008, HSBC completed the increase of its stake in Techcombank to 20%, became the first foreign bank in Vietnam to hold a 20% interest in a domestic bank.
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 1 January 2009, HSBC started operating its locally incorporated entity and became the first foreign bank to incorporate in Vietnam, after gaining approval from the State Bank of Vietnam (SBV) to set up a Wholly Foreign-Owned Bank (WFOB) in Vietnam in September 2008. The new entity, HSBC Bank (Vietnam) Ltd., is headquartered at the Metropolitan Building, 235 Dong Khoi Street, in Ho Chi Minh City’s District 1. With a registered capital of VND3,000 billion, HSBC Bank (Vietnam) Ltd. is 100 per cent owned by The Hongkong and Shanghai Banking Corporation Limited, the founding and principal member of the HSBC Group.
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.
We are the world's local bank.
The HSBC Group is one of the largest banking and financial services organizations in the world, with well-established businesses in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC differentiates its brand from those of its competitors by describing the unique characteristics which distinguish HSBC, summarized by the words 'The world's local bank'.
Headquartered in London, the HSBC Group has over 9,500 offices in 86 countries and territories, serving over 100 million customers, with a total of 45 million customers registered for internet banking. The Group's total assets were US$2,527 billions at 31 December 2008.
With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.
Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.
The HSBC corporate character defines the values and principles inherent in all our everyday dealings.
The HSBC Group has an international pedigree which is unique. Many of its principal companies opened for business over a century ago and they have a history which is rich in variety and achievement. The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited , which was established in 1865 to finance the growing trade between China and Europe.