HSBC Vietnam to Invest US$28.55Mln in Self-Service Banking
Hong Kong and Shanghai Banking Corporation (HSBC) will invest nearly US$28.55 million in developing its self-service banking facilities, including normal and multifunctional Automatic Teller Machines (ATMs), in Vietnam by 2011, local state media reported.
As of August 18, the British lender has already installed 108 ATMs in Vietnam and became the biggest foreign owner of ATMs in the Southeast Asian country, the source said.
HSBC sees ATMs as a core business of its retail banking services and believes such a network will become an increasingly important component of its distribution channel as the bank reach out to a broader base of customers,.
HSBC, which has had its ATM network linked with 230 ATMs of the partner Techcombank since May 2008, is one of the largest foreign banks in Vietnam and can trace its roots in the country back to 1870 when it first opened an office in HCM City.
Currently, HSBC has more than 1,000 employees, with nearly 200 working in Hanoi. (Vietnam Economic Times, Young People)
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