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On 1 January 2009, HSBC started operating its locally incorporated entity and became the first foreign bank to incorporate in Vietnam, after gaining approval from the State Bank of Vietnam (SBV) to set up a Wholly Foreign-Owned Bank (WFOB) in Vietnam in September 2008.
HSBC Holdings plc (Chinese: 滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.
In 2005, global bank Government of Vietnam acquired a 10% stake in Techcombank. [ 7 ] [ 8 ] In 2008, HSBC increased its stake in the bank to 20% by making a follow-on investment of $77.1 million. [ 9 ] [ 10 ] In 2017, HSBC divested its strategic investment in Techcombank by selling its 172 million share stake. [ 5 ]
Bao Viet Bank (52% owned by BVH [4]) was set up in December 2009 in cooperation with Vinamilk, CMC Technology Corporation and HiPT Technology Corporation. This was an expression of Bao Viet's new business model based on the three pillars of insurance, securities and banking.
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Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
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