Four Vietnamese banks enter top 500 valuable bank brands

A transaction office of the Bank for Investment and Development of Vietnam

(BIDV) (Photo: Vietnamplus)

Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) was the first and only private Vietnamese bank to be named on the 2019 list, according to the Banking 500 2019, an annual report on the most valuable and strongest banking brands in the world. It ranked in at number 361 on the list. 

The other three were the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), the Bank for Investment and Development of Vietnam (BIDV), and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

VietinBank was in at number 242, up from 310 in 2018; BIDV came in at 307, up 44 places; while Vietcombank moved up 43 places to rank 325th. 

China’s major banks dominate the top spots in the Brand Finance Banking 500 2019 ranking. The Industrial and Commercial Bank of China (ICBC) leads as the world’s most valuable banking brand, growing 35 percent to 79.8 billion USD. It also fared well in brand strength as one of only three banks this year with an elite AAA+  rating. China Construction Bank came in second place (69.7 billion USD), with Agricultural Bank of China (55.0 billion USD) and Bank of China (51.0 billion USD) in third and fourth spots, respectively.

Meanwhile, Russia’s Sberbank claims the title of the world’s strongest banking brand, with a score of 93.1 out of 100 and an AAA+  rating.

Source: VNA