Techcombank

The Vietnamese bank earns a string of awards from the prestigious financial platform.

The cut, which begins from this month to late 2021, will depend on each bank’s financial situation.

Banks in the list are classified as important pillars to the finance-banking system, and therefore subject to close credit risk monitoring and warning under the SBV’s instruction.

M&A activities in the banking sector are set to heat up in 2021, when the Covid-19 pandemic is fully contained and the majority of Vietnamese banks have completed their restructuring processes.

Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.

Experts believed European investors would eye Vietnamese banks which have some good criteria.

With five new banks included in this year’s Brand Finance Banking 500, the total number of Vietnamese banks in the global top 500 banks in brand value hits nine.

In 2020, the credit growth is expected to be in range of 13 – 13.5%, down from 13.7% last year.

Moody's rating actions on the 18 banks are driven purely by the sovereign rating action, and do not reflect a weakening of the banks' standalone financial profiles.

Vietnam is committed to opening the financial market to foreign investors, particularly in financial services.