HSBC Vietnam allowed to provide additional banking services

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued Decision No. 1535/QD-NHNN on June 29 to permit the Hongkong and Shanghai Banking Corporation Limited (Vietnam) (HSBC Vietnam) to provide additional banking services related to bond issuance, including consulting, agency and underwriting, for resident enterprises ( state-owned enterprises, non-state enterprises and credit institutions) and for those non-resident bond issuers who are licensed by the Vietnamese Government.

The HSBC Vietnam is permitted to supply the aforesaid services for senior bonds, subordinated bonds with call options, and convertible bonds which are issued within Vietnam or abroad and dominated in VND or USD.

To provide these services, the HSBC Vietnam should comply with the regulations on criteria and conditions of bonds issuing agents set by the Ministry of Finance (MOF). In addition, it also requires permit issued by the State Securities Commission (SSC) to conduct bonds underwriting in accordance with MOF’s regulations, and comply with other regulatory rules on consulting, agency and underwriting of bonds.

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