The Hanoitimes - Since 2007, The Asian Banker has been publishing the world`s annual ranking of the strongest banks.
Fourteen Vietnamese banks have been recently named in The Asian Bankers’ list of 500 Asia Pacific’s strongest banks in 2018.
State-run Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) claimed the highest ranking among Vietnamese banks, taking the 29th place, up 19 places against 2017.
Private Vietnam Technological and Commercial Joint Stock Bank (Techcombank) took the second spot among 14 banks at 76th, up 25 places, while expanding the gap with the remaining banks, including Stock Commercial Bank for Foreign Trade of Vietnam (VietinBank) at 164th, and Bank for Investment and Development of Vietnam (BIDV) 176th.
VietinBank in 2017 was ranked third among Vietnamese banks but this year moved down to the fifth place as Military Bank (MB Bank) claimed the third position.
Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) from the sixth place last year now sat at the 13th place among 14 Vietnamese banks in the list. Meanwhile, Asia Commercial Bank (ACB) stood at the fourth place in rank of 149th, up 47 places compared to last year, which was behind Vietcombank, Techcombank and MB Bank.
Other banks saw huge improvements compared to last year rankings, including Vietnam Prosperity Bank (VP Bank) climbing 77 places, Saigon – Hanoi Commercial Joint Stock Bank (SHB) 45 places and Saigon Thuong Tin Commerical Joint Stock Bank (Sacombank) 133 places.
Notably, new inclusions in this year Asian Bankers’ list are Vietnam Bank for Agriculture and Rural Development (Agribank), Saigon Commercial Bank (SCB) and Vietnam Export Import Commercial Bank (Eximbank).
Since 2007, The Asian Banker has been publishing the world's annual ranking of the Strongest Banks, based on balance sheet strength. The ranking is based on a very detailed and transparent scorecard that ranks banks on six areas of balance sheet financial performance; namely the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.