Vietnam Central Bank Allows HSBC, ANZ Units To Open Branches
April 28 2009 - 3:33AM
Dow Jones News
The State Bank of Vietnam said Tuesday it has allowed the local,
wholly owned units of HSBC Holdings PLC (HBC) and Australia &
New Zealand Banking Group Ltd. (ANZ.AU) to open branches in
Vietnam.
HSBC Vietnam has received approval to open a branch Binh Duong
province, 40 kilometers north of Ho Chi Minh City, the central bank
said.
It has also allowed ANZ Vietnam to open a branch in Ho Chi Minh
City.
Both of the branches will have to become operational within the
next six months, the central bank said.
-By Vu Trong Khanh, Dow Jones Newswires; 844 35123042;
trong-khanh.vu@dowjones.com
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