HSBC Vietnam and ANZ Bank Vietnam allowed to open branch

Today, the Governor of the State Bank of Vietnam issued Document No. 3043/NHNN-CNH and Document No. 3044/NHNN-CNH to permit the Hongkong and Shanghai Banking Corporation Limited (Vietnam) (HSBC Vietnam) to open a branch in Binh Duong province and the Australia and New Zealand Banking Group Limited (ANZ) Bank in Vietnam to open another branch in Ho Chi Minh City.

Under this Document, the two Banks is responsible for undertaking relevant procedures in line with Decision No.13/2008/QD-NHNN of the SBV Governor dated April 29, 2008 on network of the commercial banks, and preparing for their branch inauguration for a duration of 6 months from the date of signing.

Diem Hang

sbv

>   Banks raising deposit interest rates to retain clients (28/04/2009)

>   Prime Minister urges better debt management (28/04/2009)

>   VIB allowed to issued long-term valuable papers for 2009 (28/04/2009)

>   Vietnam cuts rate on export credit to 2.9 percent (28/04/2009)

>   Central bank orders companies to price items in dong (27/04/2009)

>   Eximbank permitted to provide forex services (27/04/2009)

>   Getting credit guarantee tough road for businesses (27/04/2009)

>   SBV considering measure to force exporters to sell dollars (27/04/2009)

>   Banks fear lack of medium- and long-term capital (27/04/2009)

>   Disbursement of the interest rate support program to April 23, 2009 (27/04/2009)