The State Securities Commission (SSC) granted a license to the banking, investment and business group, Citigroup, to provide securities custody and clearing services at a ceremony in Hanoi on February 28.

Speaking on the occasion, SSC vice chairman Nguyen Doan Hung believed that Citigroup will further contribute to the development of the Vietnamese securities market by not only providing a large number of clients with securities custody services, but also by performing its role as a custodian bank for securities investment funds and the safety of Vietnam's securities market.

General director of Citigroup Vietnam Charly Madan said the system of Citigroup branches in Vietnam has been established methodically. With its securities custody services, Mr Madan said the bank will give more help to clients in their business.

Citigroup, one of largest foreign financial groups operating in Vietnam, has provided business banking services in more than 100 countries.