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HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale

“VietinBank has made a good choice of advisers,” said Alan Pham, chief economist at VinaCapital Investment Management Ltd. HSBC has a depth of expertise and wide distribution network globally that will help get the Hanoi-based bank a “good rate,” he said.

HSBC confident in Vietnam’s economic growth

The UK-based Hong Kong and Shanghai Banking Corporation Limited (HSBC) recently predicted that Vietnam’s economy would see positive growth this year.

HSBC Vietnam inaugurates two more new outlets

HSBC’s Dong Nai Branch is situated on the ground floor, zone B, of the Dong Nai Hotel, 57 Pham Van Thuan Street, Tan Tien Ward, Bien Hoa City, Dong Nai Province. This branch is the province’s first outlet operated by a wholly-foreign owned bank, and is centrally located at the heart of the city so that HSBC customers can enjoy greater convenience when accessing HSBC products and services.

Business confidence stays high

Alan Keir, HSBC’s Global Head of Commercial Banking, said: “Increased private consumption, global re-stocking and liquidity from the West have helped boost the emerging market economies. The emerging markets play a vital role in driving the global economy and SMEs in these markets are again demonstrating their strength and positivity on the global stage.”

Vietnam’s SMEs optimism level ranks 2nd in the world

This information was announced by the Hongkong and Shanghai Banking Corporation (HSBC) through its global survey on SMEs’ optimism level, on January 20. 60 percent of the surveyed enterprises said Vietnam’s economy would continue to grow in the next six months.

Inflationary pressures in Vietnam remain strong:HSBC

Inflation is still a key policy challenge in Vietnam. CPI growth continued to accelerate in December, having already returned to double-digit territory in the previous month. In particular, food prices are still surging and showing no signs of a slowdown. Inflation risks are tilted to the upside, and given the government’s target of 7% for 2011, more efforts are required to rein in price pressures.

Vietnam money-deposit rates calm down after week of turbulence

Many banks pushed rates up last Thursday, causing market turbulence after partly private Techcombank offered depositors a rate of 17% in a three-day window from Dec. 8 to 10. However, the State Bank of Vietnam stepped in to ask the Hanoi-based lender, which is 20% owned by HSBC Holdings Plc, to stop the programme.

HSBC awarded Best Bank in Vietnam

This is the third consecutive year the bank has been awarded the title.

Forex market still in a state of flux as firms feel the squeeze

The central bank confirmed that it continued selling dollars to the banking system in November. The bank sold $200 million to local credit institutions in October instead of being a net buyer in September, purchasing $300 million from the institutions. The recent HSBC report entitled Time to give Vietnam a Second Chance read that with many of these loans maturing in the second half, onshore dollar supplies had declined. This situation is likely to continue in the coming months.

Time to give Vietnam a second chance: HSBC

Income growth coupled with labour force growth is likely to drive private consumption, which currently accounts for 55% of GDP. We also note that 41% of Vietnamese exports comprise rice, fishery products and footwear that all enjoy stable demand.

Survey puts climate change atop nation's most pressing concerns

The results of HSBC's fourth annual Climate Confidence Monitor revealed that climate change, economic stability and terrorism ranked together as the top three concerns globally. In Hong Kong and Viet Nam, people surveyed said climate change was their number one concern.

Inflation still a thorn in the side of banks

The consumer price index (CPI) in Vietnam accelerated more than expected in October, fast approaching familiar double-digit territory. The index surge in October hit 9.7 per cent year-on-year compared to 8.9 per cent recorded in September. On a monthly basis, the CPI in October rose 1.5 per cent against September. Sherman Chan, HSBC’s regional economist for ASEAN, said the jump in inflation would have shaken investor confidence.

HSBC survey: climate change top concern for Vietnamese

The HSBC's fourth Climate Confidence Monitor reveals that climate change is one of the top three concerns globally, following economic stability and terrorism and the top concern for people in Vietnam and Hong Kong (China).

HSBC ups stake in Vietnam insurer for $105 mln

HSBC Holdings (HSBA.L) (0005.HK) is to almost double its stake in Vietnam insurance and financial firm Bao Viet BVH.HM to 18 percent for $105 million, Europe's biggest bank said on Thursday.

HSBC tapped to sell BP's stake in Vietnam gas project

HONG KONG/LONDON July 29 (Reuters) - BP (BP.L) has tapped HSBC (0005.HK)(HSBA.L) to sell its stake in the Nam Con Son gas project in Vietnam, as it scrambles to hive off $30 billion of assets to pay for the clean-up of the worst oil spill in U.S. history, three sources said.


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