HSBC Holdings PLC (HBC) has no plans to make a third acquisition in Vietnam at present, but it is in talks to raise an existing stake in insurer Bao Viet Holdings, its country head said.
“We have no imminent plans (on acquisitions), but we continue to keep our eyes open,” HSBC said.
It is interesting to note that consumer advocates and watchdogs at Household - HSBC Watch are Vietnam vets. The group continues to monitor HSBC on a daily basis, and studies foreclosures of Veterans. Reports of HSBC abusing the U.S. and U.K. military are not uncommon.
Household - HSBC Watch got their start monitoring predatory lender Household International. HSBC entered the mix when the bank bought the troubled predator. Thirty-three percent of subprime loans involved those over fifty years of age.
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