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Banking & Finance

HSBC Vietnam scores hat-trick at The Asset's Triple A Awards

Released at: 17:38, 02/01/2018

HSBC Vietnam scores hat-trick at The Asset's Triple A Awards

Photo from vforum.vn

Bank caps off stellar 2017 by picking up three Triple A awards.

by Quang Huy

HSBC Vietnam capped off a successful 2017 by picking up no less than three prestigious prizes at The Asset magazine’s Triple A Awards, an annual event recognizing excellence across Asia in the fields of banking, finance, treasury, and capital markets.

HSBC Vietnam was not only named Best Global Bank for the second-year running but also scooped the prize as Best Global Corporate and Institutional Bank and Best M&A Deal, after facilitating the largest transaction ever made in Vietnam’s construction materials sector: Siam City Cement’s acquisition of a 65 per cent stake in LafargeHolcim Vietnam for $524 million.

“We are delighted to end the year on such a high note at this illustrious event,” said HSBC Vietnam CEO Mr. Pham Hong Hai. “To land three of the most acclaimed awards is tremendous acknowledgement of all our hard work and a year of dedicated customer service.”

“It is a privilege for us to leverage our global banking expertise and connectivity to continually bring such great benefits to the clients and Vietnam’s economy,” he added. “HSBC Vietnam has now advised on five of the ten largest M&A deals in Vietnam, demonstrating the bank’s strength in advising on complex, cross-border M&A transactions in the country.”

In the Best Global Bank award, banks’ overall achievements were evaluated across a number of categories, including financial performance, size of operations, spread of business, corporate and institutional banking performance, capital raising, advisory and transaction banking performance, and contribution to domestic markets.

In Best Global Corporate and Institutional Bank, banks were evaluated with the Triple A Scoring Quotient (TASQ), an in-house ranking system developed by The Asset over the past 18 years. The TASQ looks at the number of deals, types of deals, industry spread, size/significance of deals, number of sole books, innovation/impact on the capital market, quality of execution, and secondary market performance.

“To be ranked highest in three of the most comprehensive categories by The Asset is immensely gratifying and also inspires us to work even harder throughout 2018 and top the rankings again next year,” Mr. Hai said.

HSBC Vietnam’s “hat-trick” at the Triple A Awards is the icing on the cake in a stellar 2017, in which the bank landed a host of other prizes. It was also named Best Foreign Bank in Vietnam and Best Foreign Investment Bank in Vietnam by FinanceAsia, Best International Bank in Vietnam by Asiamoney, and Best Domestic Cash Manager in the Euromoney Cash Management Survey. It was also named as one of the Top 3 banks with the highest credit payment volumes by Visa.

“Yes, it’s been a good year all around - we grew our business, increased total operating income, and surpassed our sustainable savings target, and we contributed to the development of Vietnam’s economy and banking industry, leveraging our business corridors to capture FDI/FII flows into Vietnam,” Mr. Hai said.

In 2018, HSBC Vietnam will continue to leverage the group’s international connectivity to help its clients grow their businesses and will continue to raise the bar in customer service.  “We will also continue to be a pioneer in the global fight against financial crime, which will contribute to enhancing the integrity of the financial system,” he said. “Last but not least, digital innovation will remain a priority for our long-term and sustainable growth. We look forward to rolling out more digital banking products and services in the very near future.”

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