Vietnamese banks among the most valuable
In the annual ranking of the 500 most valuable banking brands in 2021, published by Brand Finance, there are nine Vietnamese banks, compared to four in 2019.>>Brand Finance:
Viettel among the world’s 500 most valuable brands in 2020
>>Viettel among the world’s 50 fastest growing brands
>>”Brand Vietnam” is worth 247 billion USD
Brand Finance, the first group global independent brand valuation and brand strategy consultancy, has just published its annual ranking of the 500 most valuable banking brands in the world in 2020.
Among those of Vietnam, we find Vietcombank (Commercial Joint Stock Bank of Foreign Trade of Vietnam), BIDV (Commercial Joint Stock Investment and Development Bank of Vietnam), VietinBank (Bank of Industry and Commerce of Vietnam), VPBank (Vietnam Thinh Vuong Joint Stock Bank).
Nine Vietnamese banks among the most valuable in the world
These four brands were already present in the Barometer 2019.
The five new names this year are Agribank (Bank of Agriculture and Rural Development of Vietnam), Techcombank (Joint Bank of Technology and Commerce of Vietnam), MBBank (Bank by shares of the army), ACB (Banque Á Châu) and Sacombank (Bank by shares of Sài Gòn).
Jump in the value of Vietnamese brands
While Europe is falling in the rankings, Asia is progressing thanks in particular to Vietnam. “The market with the highest increase in brand value is Vietnam, at 146%,”says the Brand Finance report. In particular, Vietcombank increased its value by 99%, reaching 0.8 billion USD, the second highest percentage growth in the world (behind only India’s Indusind Bank).
Among the four former winners of the previous year, three have moved up this year’s ranking: Vietcombank ( 207th, +118 places), BIDV (276th , +31 places), VPBank (280th , +81 places) ; while VietinBank recorded a drop in the value of its brand (277th , -35 places).
Concerning the five Vietnamese banks newly present in the 2020 ranking which are Agribank, Techcombank, MBBank, ACB and Sacombank, their places are respectively 190th, 327th , 386th , 420th and 422nd .
The annual Brand Finance ranking notes a 2.2% decline in the value of the Top 500 in 2020. For the first time since 2009, the total financial value of the brands of the 500 largest global banks fell from 1 .36 trillion US dollars in 2019 to 1.33 trillion this year.
China’s ICBC retains its top spot as the world’s most valuable banking brand, surpassing the USD 80 billion mark.
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