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HSBC named best bank in 2008
The Hong Kong-Shanghai Banking Corporation (HSBC) has been named Best Bank in Vietnam by The Asset Magazine in its Triple A Country Awards for 2008 for excellence in banking and finance within Asia .
This is the second time the bank has been recognised with the award, after scooping it in 2006.
“HSBC is very proud to be named Best Bank in Vietnam for its achievements from October 2007 to September 2008,” 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 recognised a chain of HSBC’s achievements in 2008, including being one of the first foreign banks to obtain a licence 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 custormers.
The Asset Magazine selected the award winners according to their financial performance, size of operation, spread of business, investment banking performance, corporate and transaction banking performance, contributions to the domestic market and client testimonials.
VNA
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