HSBC has announced its will install its 108th ATM cash machine in
Vietnam to become the foreign bank with the most ATMs installed
nationwide and intends to invest $28.6 million on developing the
machines to advance service. Amid these developments, it was reported 32
different banks provided ATM 8.3 million cards across the country last
year, 4,300 ATMs were installed and 23,000 new points of sale accepting
of payment cards were introduced.
HSBC is the first foreign bank to set up a wholly foreign-owned
subsidiary in Viet Nam in line with the country’s commitments to the
World Trade Organization and is the first foreign bank to issue
certificates for dollar deposits in Viet Nam. The company began
operations in Viet Nam in 2005.