HSBC Vietnam Gets Approval To Open Branches In Danang, Can Tho

15th Jul 2010 03:32

HANOI (Dow Jones)--HSBC Holdings PLC (HBC) looks set to expand further in Vietnam after its wholly-owned local bank got official approval to open two more branches outside the country's two main cities. The State Bank of Vietnam said Thursday it has given the go ahead to HSBC Bank (Vietnam) Ltd. to open a branch in Danang City in central Vietnam and another in Can Tho City in the south. The central bank said in a statement that the branches must be up and running within the next two months. HSBC Bank (Vietnam), which is the largest wholly-owned foreign bank in the country by registered capital, began operations last year. It currently has nine branches split between the capital Hanoi and Ho Chi Minh City, the country's largest city and its main economic center. -By Vu Trong Khanh, Dow Jones Newswires; +84 4 35123042; [email protected] (END) Dow Jones Newswires July 14, 2010 22:32 ET (02:32 GMT)