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Top 25 leading financial brands in Vietnam 2021

Top 25 leading financial brands in Vietnam 2021

Thursday 30, 09 2021
Forbes Vietnam recently assessed and announced the top 25 leading financial brands in Vietnam in 2021. Banks such as Vietcombank, Techcombank, VietinBank are among the list.

17 banks made the list

The 2021 list Forbes publishes only focused on the financial sector, including banking, securities, and insurance. Therefore, the total number of brands decreased from 50 units to 25 units.

The top 5 in the list of leading financial brands include three state-owned banks and two private banks. Vietcombank topped the list with a value of 705 million USD, 2.8 times higher than the value assessed by Forbes in the 2020 list.


Following Vietcombank is Techcombank, VietinBank, VPBank, and BIDV. Some other banks on the list with high brand value are MB, ACB, HDBank, and VIB.

With the evaluation based on the ability to generate profits, the brand ranking order that Forbes announced in the list is similar to the topmost profitable banks in the first half of 2021.

In particular, the first nine positions in Forbes' list match the order of the nine most profitable commercial banks in the first six months of this year, which are Vietcombank, Techcombank, VietinBank, VPBank, BIDV, MB Bank, ACBHDBank, and VIB.

Besides commercial banks, representatives of insurance companies on the list include Bao Viet Holdings (BVH) at 14th place, PVI Joint Stock Company at position 21st, and Bank for Investment and Development of Vietnam Insurance Joint Stock Corporation (BIC) in 25th place.

While the brand value of joint-stock commercial banks increased sharply compared to the level announced in the 2020 list, the brand value of insurance companies tended to decrease.

The last group with five representatives in the list of top 25 leading financial brands voted by Forbes are securities companies.

Besides Saigon Securities Incorporation (SSI), which has been on the Forbes list for many years, the remaining four companies are Techcom Securities (TCBS), Viet Capital Securities (VCSC), Ho Chi Minh City Securities (HSC), and VNDirect Securities (VCSC).

Leading among these securities companies is TCBS, with the brand value calculated by Forbes reaching 59.6 million USD. TCBS is followed by SSI with 42.3 million USD, higher than its 32.9 million USD in 2020.

VCSC, HSC, and VNDirect achieved brand values of 27.9 million USD, 20 million USD, and 17.5 million USD, respectively.

Top 25


Financial industry brands have sharp increases in value

With a value of 705 million USD, Vietcombank's brand value increased sharply compared to the previous year, topping the top 25 list. Two other state-owned commercial banks, VietinBank and BIDV, have high rankings. With a long history of operations, a strong position, and a wide network, VietinBank, and BIDV are ranked third and fifth, with a brand value of 388 million USD and 320 million USD, respectively.


In recent years, Vietnam's stock market has witnessed strong growth in position, operation scale, and market value of many private companies, especially the banking sector. Accordingly, this year's top 25 list of financial industry brand values ​​has the presence of several private banks operating effectively, even reaching high rankings.

For example, Techcombank is in second place with a brand value of 430 million USD, and VPBank is fourth with 356 million USD. Private banks like MB and ACB with good performance and long histories are in sixth and seventh place, valued at 312 million USD and 257.3 million USD, respectively.

The in-depth calculation in the financial sector helps dynamically developing private banks such as HDBank, VIB, TPBank, OCB enter the Forbes Vietnam quantitative brand value list for the first time, occupying positions 8 to 11. Next on the list are branded banks that are familiar with the market, such as Sacombank, SHB, LienVietPostBankMSB, SeABank, and ABBank, whose products and brands are present everywhere.

The value of financial industry brands this year has a strong increase due to two main reasons.

Firstly, the financial industry, specifically banking and securities, saw a strong increase in profits in the fiscal year 2020.

Secondly, in the context of low-interest rates and the pandemic, Vietnam's stock market is still attracting cash flow and investors' attention, bringing the average P/E ratio of the market to about 18 times at the time of calculation. At the time of calculation and publication of the list of previous years, the average P/E of the stock market was about 11 - 13 times.


Source: vietnamfinance, Economy & Forecast Review

Compiled by VietnamCredit

Banking & Finance

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