Vietnam banks record highest increase in brand value: Brand Finance

Feb 07, 2020 / 12:31 PM

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.

Vietnam banks recorded the highest increase in brand value, at 146%, according to Brand Finance’s latest Banking 500 report.

Source: Brand Finance Report.

Notably, Vietcombank climbed by 99% year-on-year in 2020 to US$0.8 billion in brand value, the second highest growth rate by percentage globally.

Since the Vietnamese government introduced its strategy to boost accountability and strength of the banking sector, including more stringent capital requirements and greater transparency, customer perception has improved, stated the report.

“Growing confidence in the sector – reputation measures have improved 8% in Brand Finance’s research – has translated into higher revenues and a more positive outlook from equity analysts,” added Brand Finance.

In 2019, there were only four Vietnamese banks, namely Vietcombank, BIDV, VietinBank and VPBank in the list, this year’s ranking included another five banks in Agribank, Techcombank, MB Bank, ACB and Sacombank, taking the number of Vietnamese bank in the global top 500 banks in brand value to nine.

Compared to last year’s report, Vietcombank’s ranking improved from 325th to 207th, BIDV from 307th to 276th, VPBank from 361st to 280th, while only VietinBank moved down from 242nd to 277th.

The rankings of the five new banks in this year list was 190th, 327th, 386th, 420th, and 422nd, respectively.

For the first time since 2009, the total brand value of the world’s 500 largest banks has declined year on year – from US$1.36 trillion in 2019 to US$1.33 trillion this year.

China’s ICBC retained its top spot as the world’s most valuable banking brand, breaking the US$80 billion mark. Chinese banks continue to occupy the top four of the Brand Finance Banking 500 2020 ranking.

Meanwhile, five US banks are in the top 10, although overall, the US banking sector declined by 5% in brand value. Wells Fargo is the top bank and JP Morgan has grown by 15% to enter the top 10.

European banks declines by 7%, more than any other region, with several major banks seeing significant drops in brand value.

Vietnam c.bank lends a hand to companies hurt by nCoV

05 Feb, 12:37

Banks could consider restructure debt payment period or lower interest rates for enterprises and individual customers facing difficulties from the epidemic.

Vietnam government to raise registered capital at major state-run banks in Q1

30 Jan, 21:23

All four major state-run banks, including Vietcombank, Vietinbank, Agribank and BIDV, are expected to qualify for Basel II standards in 2020.

Total assets of banks in Vietnam swell 9.12% to over US$518 billion

23 Jan, 13:57

Total assets of commercial banks under state ownership accounted for 42.7% of the total in the banking sector, followed by joint stock commercial banks with 41.6%.

Vietnam to tighten biometric authentication for new bank cards next year

Bank card issuers must conduct a face-to-face meeting and match the biometric data of individual customers or the legal representative of organizational customers with their identity documents.

05 Dec, 10:37 AM

Make in Vietnam forum spotlights breakthroughs shaping digital future in the country

Vietnam will host the seventh National Forum on Vietnamese Digital Technology Enterprises on December 25 in Hanoi, highlighting policy directions, strategic technologies and progress under the “Make in Vietnam” initiative as the country pushes toward a stronger digital economy.

02 Dec, 03:33 PM

Hanoi and Moscow seek new economic momentum as partnership marks 75 years

At the Moscow–Hanoi Business Forum, leaders from both capitals said 75 years of Vietnam–Russia ties provide a strong foundation to deepen economic and investment cooperation, especially in technology, trade and urban development.

02 Dec, 02:17 PM

Vietnam manufacturing maintains strong momentum despite storms disrupting supply chains

Vietnam’s manufacturing sector continued to expand in November, marking the fifth straight month of improvement, even as severe storms caused supply-chain delays and slowed production, according to S&P Global.

01 Dec, 09:13 PM

Techfest 2025 returns to Hanoi, spotlighting Vietnam’s vibrant startup community

Hanoi’s Hoan Kiem pedestrian street will host Techfest Vietnam 2025 from December 12 to December 14, welcoming entrepreneurs, investors and the public to explore emerging technologies and celebrate the country’s growing culture of innovation.

01 Dec, 09:07 PM

Vietnam expands major entrepreneurship program to unlock opportunities for women nationwide

The Vietnam Women’s Entrepreneurship Support Program has surpassed nearly every target set for 2017–2025, empowering more than 118,000 women to launch new ventures and laying the groundwork for a stronger, more inclusive entrepreneurial ecosystem in the next decade.

01 Dec, 07:11 PM

HHTIP accompanies businesses in efficient energy use for sustainability

As green transition becomes a decisive factor shaping future growth, Hanoi is intensifying efforts to push energy efficiency across its industrial zones. The city’s management board is building a development model centered on clean energy, responsible production and sustainable operations.

30 Nov, 02:00 PM

Vietnam launches Semiconductor Alliance to build skilled workforce, strengthen global industry ties

The newly launched Semiconductor Alliance in Vietnam seeks to develop skilled professionals, foster collaboration between universities and businesses while preparing the country to play a more active role in the global semiconductor industry.

28 Nov, 06:15 PM