Word: techcombank
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...recent growth. Among their target customers are people like Nguyen Thi Tuyet. Four years ago, the 30-year-old Hanoi travel agent became the first person in her family to open a bank account when she made a deposit in Agribank. Recently, she opened a second account with Techcombank, one of the country's private banks, and applied for her first Visa debit card. Tuyet says she prefers doing business with the latter because "the service is faster and more modern...
...based Eastern Asia Bank has built up a $1.35 billion war chest, according to its CEO, Tran Phuong Binh. The bank plans to introduce telephone-banking services and open at least 100 branches. Many private banks are expanding into the countryside, where foreign banks are less likely to reach. Techcombank now has 80 branches nationwide but has plans to boost that number to 300 in the next three years...
...locked in a global contest with its chief rival, Citigroup, to tap the pocketbooks of the world's newly rich. From South Korea to India to Brazil, HSBC is expanding its branch network, launching new financial products and marketing its brand. In December HSBC acquired 10% of Vietnam's Techcombank; in November HSBC said it planned to launch the first independent investment bank in Saudi Arabia; and in late October it purchased 70% of an investment bank called Dar Es Salaam in, of all places, Iraq. Says Stephen Green, HSBC's global chief executive, who in November was named...
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