The banking sector is the highest brand value growth area in 2024

DNHN - A total of six major banks have made it into the Top 10 strongest brands in Vietnam, including Vietcombank, BIDV, VietinBank, Techcombank, Agribank, and VPBank.

The report on the 100 most valuable brands in Vietnam, recently released by Brand Finance, highlights the prominent presence of the banking sector, with 20 banks listed, accounting for one-fifth of all companies in the ranking. The strong growth of banks in 2024 is clearly reflected in the total brand value of the entire sector, which has increased by 10% compared to the previous year, reaching 13.8 billion USD. Notably, the banking sector accounts for 32% of the total brand value of all companies on the list.

It is noteworthy that six large banks have entered the Top 10 most valuable brands in Vietnam, including Vietcombank, BIDV, VietinBank, Techcombank, Agribank, and VPBank. These are all representative of the strong recovery and development of the domestic financial sector.

Vietcombank, with a brand value of 2 billion USD, continues to assert its leading position with a growth of 7% compared to 2023. Not to be outdone, VPBank has made an impressive leap, with its brand value increasing by nearly 6%, reaching 1.35 billion USD, helping the bank climb one rank compared to last year. VPBank's brand strength index reached 73.2 out of 100 points, placing it among the six strongest banking brands in Vietnam.

Techcombank, with a brand value increased by 5% to 1.5 billion USD, is the only private bank in the Top 5 most valuable banking brands in Vietnam. Over the past year, Techcombank has achieved the fastest brand growth rate, increasing by 38.1% over five years, while also making significant gains in the global rankings, standing at 160 in the Top 200 most valuable banks worldwide. Techcombank's brand is currently rated AAA- with a brand strength index of 82.6 out of 100.

TPBank has also made significant strides, with a brand value increase of 8%, reaching 461 million USD. Notably, TPBank scored high in metrics such as "advertising recall" and "growth," along with innovations in digital transformation and customer application development, helping the bank maintain its position in the Top 100 strongest brands in Vietnam.

Sacombank not only maintained stability but also recorded exceptional growth, with a brand value increase of over 20%, reaching 473 million USD. Sacombank's brand strength index reached 77.31 points, placing the bank 22nd in the list of the strongest brands in Vietnam and 9th in the banking sector.

Additionally, OCB has also affirmed its position with a brand value of 150 million USD, achieving a brand strength index of 67.3 points, rated AA.

According to experts, the increase in brand value of Vietnamese banks not only reflects efforts in developing modern banking services, particularly digital banking, but also demonstrates stability and sustainability in profits, as well as the ability to maintain safety ratios in business operations.

Linh Anh