HSBC has struck a deal to double it shareholding in Vietnam’s Techcombank, as it seeks to strengthen its position in newly emerging markets. HSBC said it had agreed to buy another 10 per cent in Techcombank for $71.5m, taking it total shareholding to 20 per cent. The deal is subject to the Vietnamese authorities raising the limit on shareholdings by foreign banks, which currently stands at 10 per cent.
