The brand value of Vietnamese banks has risen sharply. While there were only 4 Vietnamese banks that got into the list in 2019, this year this number has been increased to 9, including Agribank, Vietcombank, BIDV, VietinBank, VPBank, Techcombank, MBBank, ACB, Sacombank.
Brand Finance, the world's leading brand valuation consultancy firm, has just announced the global ranking of the 500 biggest banking brand names (Brand Finance Banking 500) in 2020.
Accordingly, China's ICBC bank still holds the position as the bank with the most valuable brand in the world, breaking the $ 80 billion mark. Chinese banks continue to occupy the top 4 in the Brand Finance Bank 500 ranking in 2020. Meanwhile, five US banks are in the top 10, of which Wells Fargo is still in the lead, and JP Morgan has increased its brand value by 15% and reached the top 10.
While the European region drops in the rankings, the Asian group has increased its position mainly thanks to Vietnam.
"The market with the strongest brand value growth is the Vietnamese one, with an increase of 146%," the report said. In particular, Vietcombank has increased by 99%, reaching $ 0.8 billion, the 2nd highest growth rate in percentage globally (only behind Indusind Bank of India).
Since the Government of Vietnam has launched a strategy to enhance the accountability and strength of the banking industry, including more stringent capital requirements, greater transparency, and increasingly improved customer awareness. Confidence in Vietnamese banks is being increased with higher revenue and more positive prospects, as judged by analysts.
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Brand Finance's list of the 500 banks with the largest brand value globally in 2020 has the presence of 9 Vietnamese banks, including 5 new faces compared to 2019: Agribank, Techcombank, MBBank, and ACB, and Sacombank. The 4 banks that continue to be in the rankings are Vietcombank, BIDV, VietinBank, and VPBank.
In particular, the rankings of Vietcombank, BIDV, VPBank have improved respectively from 325 to 207, 307 to 276, 361 to 280. However, VietinBank's ranking has decreased, from 242 to 277.
The rankings of 5 new banks Agribank, Techcombank, MBBank, ACB, Sacombank are 190, 327, 386, 420, 422 respectively.
