The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has become the most valuable brand in Vietnam in 2024, according to a recently released report of Forbes Vietnam.
Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has become the most valuable brand in Vietnam in 2024, according to a recently released report of Forbes Vietnam.
Among the top 25 listed brands this year, the banking sector dominates with seven representatives, accounting for 28% of the total on the list.
With a brand value of 891.4 million USD, Vietcombank not only leads the financial sector but also holds the top position in the entire market.
Forbes Vietnam notes that methodical and sustainable development has helped Vietcombank maintain its leading position despite significant market fluctuations.
Previously, in the Brand Finance Vietnam 100 Report, Vietcombank was also recognised as the bank with the highest brand value in the country and ranks fourth among the top 100 brands nationwide.
This year, Vietcombank's brand is valued at 2.04 billion USD, a 7% increase compared to 2023, marking the second consecutive year it has sustained its crown in the banking sector.
Vietcombank has also been given the highest credit rating among commercial banks in Vietnam by prestigious international organisations such as S&P, Fitch Ratings, and Moody’s. Additionally, it has continuously received the title of "Best Bank in Vietnam" and "Best Workplace in Asia" by the HR Asia magazine.
Six other banks are also present in Forbes Vietnam's list of top 25 brands this year, namely MBBank with a brand value of 550.2 million USD, BIDV (449.6 million USD), VietinBank (447.8 million USD), ACB (398.3 million USD), HDBank (289.8 million USD), and OCB (130.5 million USD).
🐠 The top 25 have a combined brand value of nearly 5.2 billion USD and the 2023 pre-tax profit of over 185 trillion VND (7.3 billion USD)./.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND worth of green bonds, the first of its kind, to support eco-friendly projects.
The Government has proposed the National Assembly (NA) to consider pumping an addition of over 20.69 trillion VND (842.8 million USD) worth of State capital into the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to improve its financial capacity for expanding international reach and for it to become one of Asia’s 100 largest banks.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) continued slashing deposit interest rates on January 12, with the lowest standing at 1.7% per year.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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