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Techcombank announces that it has bought back HSBC’s shareholding in Techcombank.

Hanoi, 09 September 2017, Techcombank announces that it has bought back HSBC’s shareholding in Techcombank.
 
This transaction enables HSBC to further its long-term global strategy of exiting from non-core banking assets.  This is made possible by Techcombank’s current financial position, which is sufficiently strong for it to buy back HSBC’s stake without affecting any of its key financial indicators and ratios.    


 
Techcombank and HSBC began their strategic partnership in 2005.   By 2012, HSBC was no longer involved with Techcombank’s business operations.  In the initial phase, HSBC and Techcombank collaborated closely on technology and product development through a Technical Service Agreement (TSA) which formally expired in 2014.  The early years of their relationship contributed to Techcombank’s current position as a leading joint stock bank in Vietnam. 
 
Since 2012, Techcombank and HSBC Global have enjoyed a successful and collaborative banking relationship, particularly through HSBC Vietnam. Techcombank looks forward to continuing this collaborative relationship following the share buyback transaction.