HANOI: HSBC Holdings Plc, the world's third-biggest bank by market value, aims to open five to 10 branches in Vietnam within four years as regulations permit, country head Alain Cany said.
HSBC runs a branch in Hanoi and another in Ho Chi Minh City, and in 2005 bought a 10% stake in Vietnam Technological & Commercial Joint Stock Bank, known as Techcombank. HSBC chief executive officer Michael Geoghegan said yesterday that the company is still awaiting regulatory approval. – Bloomberg
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