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HSBC to install nationwide ATM network   2008-08-20 - SGGP


 HSBC will install 108 ATM cash machine, making it the foreign bank with the most ATMs installed nationwide, the bank has announced.

HSBC pledged to spend around US$28.6 million on developing automatic banking services including normal ATM machines and ATMs that allow clients to deposit.

It was also reported that 32 banks provided ATM cards last year. Some 8.3 million cards have been issued in Viet Nam. Last year, 4,300 new ATMs were installed as well as 23,000 new points of sale that allow cards payments.

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.

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