HSBC spreads network to Binh Duong
By Thu Thuy - The Saigon Times Daily
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| John Coverdale (R,4th), group general manager and global co-head commercial banking for HSBC, Thomas Tobin (L,4th), CEO of HSBC Bank Vietnam and others cut ribbon to mark the opening of the bank’s Binh Duong branch - Photo: Le Toan |
HCMC - HSBC Bank (Vietnam) Ltd. on Wednesday opened its branch in Binh Duong Province, the first banking outlet by the wholly foreign-owned lender outside Hanoi and HCMC.
Thomas Tobin, Chief Executive Officer of HSBC Bank Vietnam, said in the statement that the branch in Binh Duong is the first of many planned for 
economic centers around Vietnam. By opening more branches and more transaction offices across the country, HSBC will meet the needs of our growing provincial customer base.”
He explained that “local incorporation allows us to have a broader distribution network to reach more customers in Vietnam’s major economic centers.”
The new Binh Duong branch offers a comprehensive range of services, with a focus on corporate services, which is one of the target sector of HSBC in Vietnam, such as commercial banking, payment and cash management, trade and supply chain as well as personal financial services.
John Coverdale, who has just been assigned as group general manager and global co-head commercial banking for HSBC and is in charge of HSBC’s relationship with all middle market corporate and small and medium enterprises in Asia-Pacific and the Middle East, came to Vietnam to participate the ceremony.
He said Vietnam was among top important markets of HSBC in Asia, adding that HSBC had shown strong commitment in investing in Vietnam. “You cannot put your resources in the country if you do not want develop with the economic growth,” he said.
The bank now operates three transaction offices in Hanoi and another three in HCMC. The bank’s expansion plan will continue in the near future subject to approval from the State Bank of Vietnam.