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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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HSBC increases shareholding in Vietnamese insurance

Following regulatory and shareholder approvals, HSBC Insurance (Asia-Pacific) announced it has increased its shareholding in Bao Viet Holdings to 18% from 10% at a cost of Vnd1.88 trillion ($102 million).

HSBC acquired a 10% interest in Bao Viet, Vietnam’s leading insurance and financial services group, in September 2007. Under the terms of the original agreement, HSBC had an option to purchase a further 8% of Bao Viet’s shares from the ministry of finance (MoF).

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off