15 Vietnamese banks feature in the Top 500 largest banking brands globally
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- Brand
- 17:30 27/03/2024
DNHN - Vietcombank remains the Vietnamese bank with the highest brand value according to Brand Finance’s ranking. Globally, Vietcombank ranks 133rd out of 500, up 4 places compared to 2023.
Brand Finance recently announced the list of the top 500 most valuable banks in the world in 2024. According to Brand Finance, the total brand value of the 500 banks with the largest brand value in the world reached 1.44 trillion USD, almost double the total value a decade ago.
Chinese banks recorded a remarkable recovery, securing the top 4 positions. ICBC (Industrial and Commercial Bank of China) remains the bank with the largest brand value in the world for the 8th consecutive year. Specifically, ICBC’s brand value increased by 3% to 71.8 billion USD. China Construction Bank, Agricultural Bank of China, and Bank of China ranked 2nd, 3rd, and 4th respectively in the Top 500 Most Valuable Banking Brands in the World ranking.
Despite a 4% decrease in brand value (down to 37.3 billion USD), Bank of America remains the most valuable bank in the US and ranks 5th in the Top 500 ranking. Wells Fargo, meanwhile, ranks 6th with a brand value of 35.8 billion USD (up 9%).
Vietnam has 15 banks in the Top 500 in 2024. Among them are 3 new faces: TPBank, LPBank, and MSB.
Vietcombank remains the Vietnamese bank with the highest brand value according to Brand Finance’s ranking. Globally, Vietcombank ranks 133rd out of 500, up 4 places compared to 2023.
BIDV is the next Vietnamese bank to make the Top 500, ranking 151st, up 10 places compared to 2023. VietinBank also rose 14 places to 157th.
The 4th Vietnamese bank is Techcombank, ranking 160th, up 3 places compared to last year.
The other two banks in the Top 200 are Agribank (162) and VPBank (175). However, the rankings of these two banks have declined slightly compared to 2023.
Other banks on the list include MB (227), ACB (243), Sacombank (322), TPBank (326), HDBank (366), LPBank (424), VIB (425), SHB (436), and MSB (458).
VIB made significant progress by entering the Top 500 of the ranking, up 66 places compared to 2023. By the end of 2023, VIB achieved total revenue of over 22,000 billion VND, an increase of 23% compared to 2022. Of which, pre-tax profit reached a record of over 10,700 billion VND. The return on equity ratio (ROE) reached 25%, maintaining the top profitability in the industry.
Three other banks also had impressive improvements in their rankings: ACB, Sacombank, and HDBank, all of which rose by more than 30 places.
Brand Finance’s research indicates that revenue recovery and forecasts are key factors in the impressive growth in brand value.
In addition, customer trust is also one of the main pillars that create brand strength. At the same time, the determination of businesses to fulfil their commitments and achieve strategic goals also contributes to the growth in brand value.
Overall, Vietnamese banking brands have recorded significant improvements compared to last year. Only 3 banks, Agribank, VPBank, and SHB, have seen their rankings decline.
Thu Hang
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