Brand value of 20 banks reaches 13.8 billion USD

Banking is one of the sectors that will see the highest brand growth in 2024.

The report on the 100 most valuable brands in Vietnam recently published by Brand Finance shows that 20 banks are on the list and many of these banks have brand value increasing at double-digit rates.

Accounting for 1/5 of the list of named businesses, the bank The domestic banking industry has demonstrated its strength through its efforts to recover and develop its business. Accordingly, in 2024, the banking industry grew quite impressively with total brand value increasing by 10%, reaching 13.8 billion USD and accounting for 32% of the total value of all listed brands.

In the top 20 banks trademark There are 6 banks in the Top 10 enterprises with the strongest brand value in the market in 2024, including: Vietcombank, BIDV, VietinBank, Techcombank, Agribank and VPBank.

Vietcombank is the bank with the largest brand value in Vietnam for two consecutive years.

Accordingly, Vietcombank ranked first with brand value increasing by 7%, reaching 2 billion USD.

The brand value of Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) in 2024 increased by nearly 6% compared to 2023, reaching 1.35 billion USD. VPBank 's ranking improved by 1 place compared to 2023, with its brand value increasing from 1.28 billion USD in 2023 to 1.35 billion USD this year. VPBank 's brand strength index reached 73.2 on a scale of 100 and is in the Top 6 banks with the strongest brand value in the market.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has become the only private bank to maintain its position in the Top 5 most valuable banking brands in Vietnam, with a brand value of 1.5 billion USD, up 5% compared to 2023; achieving the fastest brand growth rate in the past 5 years with an increase of 38.1%. At the same time, Techcombank continued to impressively rise to 160th place in the Top 200 most valuable banks globally.

Of the 20 banks in the group of 100 strong brands, 6 banks are in the Top 10 enterprises with the strongest brand value in the market.

As the only private bank in the Top 5 most valuable Vietnamese banking brands, Techcombank is currently the 7th brand in the Top 100; its Brand Strength Index (BSI) increased to 82.6 out of 100, while maintaining its AAA- rating.

Another bank, TPBank, also saw its brand value increase by 8% in 2024, to $461 million, maintaining its 23rd position in Brand Finance's Vietnam 100 2024 ranking. TPBank's "advertising recall", "familiarity" and "growth" indicators all recorded high scores. TPBank's total Brand Strength Index (BSI) increased to 73.9 out of 100 and its AA brand strength rating improved compared to 2023. For the second year in the ranking, TPBank recorded strong growth in both brand value and strength and was highly appreciated for its digital transformation efforts and innovation in user applications.

With Sacombank, this bank is recorded to have achieved a brand value growth rate of over 20%, reaching 473 million USD; brand rating index is classified as AA+; brand strength index with 77.31 points; ranked in the Top 22 Most Valuable Brands in Vietnam in 2024 and Top 9 Most Valuable Banking Brands in Vietnam in 2024.

OCB Bank has a brand value of 150 million USD, brand strength index of 67.3, ranked AA.

According to economic experts, the increase in brand value of banks over the years is a testament to the strong changes in the development of banking services, especially digital banking. At the same time, it records stable and sustainable growth in profits as well as ensuring safety coefficients in business.

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