Wednesday, 24 Jul 2019
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ECONOMY

Forbes includes 8 banks among top 40 Vietnam valuable brands

Updated at Friday, 24 Aug 2018, 17:47
The Hanoitimes - Forbes Vietnam compiled the list based on the contribution of each brand to company`s business performance.
Forbes Vietnam included eight banks in the list of the top 40 Vietnamese valuable brands, as the highest spot in the banking sector belonged to state-run Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) at 9th place with a brand value of US$178 million.
 
Illustrative photo.
Illustrative photo.
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Bank for Investment and Development of Vietnam (BIDV) came in the second and third places among Vietnamese banks with a brand value of US$153.6 million and US$146.2 million, respectively. 

The remaining are privately-run joint stock banks, among which Vietnam Prosperity Joint Stock Commercial Bank (VPBank) took the lead at the 13rd place with US$99.2 million, followed by Vietnam Technological and Commercial Joint Stock Bank (Techcombank) with US$89.2 million in the 15th.

Military Bank (MB) ranked 23rd in the list with a brand value of US$76.4 million, while Asia Commercial Bank (ACB) stood at 33rd with US$37.5 million. HDBank was the last among banks with US$26.7 million, which is also the its first inclusion in the list. 

In addition to HDBank, other three companies were named in the list for the first time, including Vietnam Posts and Telecommunicaions Group (VNPT), Vinhomes and Vinaphones, ranking 3rd, 5th, and 6th, respectively. 

Total brand value in this year's list of Forbes Vietnam reached nearly US$8.1 billion. Vietnam Dairy Products (Vinamilk) is the most valuable brand with US$2.28 billion in value, followed by military-run telecoms group Viettel with US$1.39 billion. 

Forbes Vietnam compiled the list based on the contribution of each brand to company's business performance. 

The most valuable brand would be for the company with the highest revenue in a sector that is heavily dependent on brand, according to Forbes Vietnam. 
Hai Yen
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