Vietnam's best international bank 2022: HSBC
HSBC, which opened in Vietnam in 1995, is now a full-scale bank with a solid franchise. It wins Asiamoney’s award for best international bank in Vietnam thanks to the kind of advice it offered clients in the past year, stressing the need to stay focused rather than chasing every opportunity in this fast-growing economy.
That kind of advice puts HSBC among the go-to firms for Vietnamese corporates, as well as for global companies seeking opportunities in the country. Customer loans grew 14% in 2021, while the non-performing loan ratio was a low 0.25%. Customer deposits jumped 31%, the capital adequacy ratio came in at 15.45%, and HSBC reported total revenue of D4.9 trillion ($210 million) and profit after tax of D1.3 trillion last year.
HSBC shines on several fronts. Take foreign direct investment. HSBC is the official partner of the Ministry of Planning and Investment – a role it took on in September 2020 – so it is well-positioned to play a big role in FDI flows for both medium-sized and large multinationals.