HSBC has opened its regional branch operations outside Hanoi and Ho Chi Minh City in Binh Duong, Vietnam. HSBC said that it serves both new and existing customers of the surrounding areas, and focuses on commercial banking, global banking, payment and cash management, trade and supply chain and personal financial services.
The new Binh Duong Branch is the latest step in HSBC’s organic expansion, following the inauguration of six transaction offices in just as many weeks between April and May 2009. HSBC has three transaction offices in Hanoi and another three in Ho Chi Minh City. The Bank’s expansion plan will continue in 2009 and the years to come, subject to approval from the State Bank of Vietnam.
Thomas Tobin, Chief Executive Officer of HSBC Bank Vietnam, said: “Local incorporation allows us to have a broader distribution network to reach more customers in Vietnam’s major economic centres. The branch at Binh Duong is the first of many planned for economic centres around Vietnam.”
