HSBC Vietnam wins custodian awards

March 29, 2012 | 13:39

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HSBC Vietnam has been named the Best Sub-custodian Bank and the Best Domestic Custodian Bank in Vietnam in The Asset magazine’s Triple A Awards 2012.

The prizes reward institutions that are able to provide superior service in the country in terms of asset safeguarding, settlement and clearing, and constantly expanding and innovating in the services provided to customers in that country.

HSBC Vietnam was the first fully foreign-owned bank to be granted a custodian licence in Vietnam.

The bank is the leading custodian bank for foreign institutional investors in Vietnam and domestic onshore fund managers in terms of assets under custody.

The Asset Triple A Awards 2012 for HSBC Vietnam come soon after its stellar performance in the reputed Global Custodian magazine’s Annual Survey of Agent Banks in Emerging Markets 2011 in which HSBC is the only bank in Vietnam to be Top-Rated in all three client categories – Leading, Cross-Border Non-Affiliated and Domestic.

The survey measures client perceptions regarding the quality of the clearing and settlement and asset-servicing duties of their agent banks. HSBC received the highest score among all banks in Vietnam from leading clients, which are the largest and most demanding clients.