Vietnam: HSBC named best bank in 2008

HSBC has been named Best Bank in Vietnam for its achievements by The Asset Magazine in its 2008 Triple A Country Awards for excellence in banking and finance within Asia.

The Group was very proud to win the award, said Thomas Tobin, President and CEO of HSBC in Vietnam. Winning the award for the second time confirms customers' trust in HSBC as well as showing recognition from independent industry leaders for its world-class products and services and ongoing commitment to excellence, he added.

The award recognized a chain of HSBC's achievements in 2008, including being one of the first foreign banks to obtain a license for local incorporation and the first foreign bank to increase its stake in a local joint stock bank to 20 percent, namely in the Vietnam Technological and Commercial Joint Stock Bank (TechcomBank), one of the largest and best managed joint stock banks in Vietnam.

HSBC Vietnam is now the country's largest foreign bank in terms of investment capital, transaction network, varieties of products and the numbers of staff and customers.

4 December 2008