Harvard University professor advises on building Vietnamese banking brands

13 Vietnamese banks in the global Top 500

On the morning of May 5, the forum “Bringing Vietnamese brands to the world and suggestions for the banking system” organized by Banking Times in Hanoi attracted special attention from experts, policy makers and the financial community at home and abroad. Not only an academic event, the forum is also a place to spread the aspiration to build Vietnamese banking brands to reach international standards in the context of an increasingly deeply integrated economy and the Fourth Industrial Revolution that is changing the face of the global financial market.

The event gathered more than 150 delegates representing the State Bank, ministries, sectors, financial institutions, and domestic and foreign economic experts. In his opening speech, Deputy Governor of the State Bank Pham Thanh Ha emphasized that developing a Vietnamese banking brand with regional and international competitiveness is a strategic task of the sector, and at the same time, part of the overall goal of enhancing the national image in the integration process.

Deputy Governor of the State Bank Pham Thanh Ha delivered the opening speech at the forum. Photo: Hoang Giap

As early as 2018, in Decision No. 986/QD-TTg, the Government approved the Strategy for the development of the Vietnamese banking industry to 2025, with a vision to 2030. The goal is not only to increase the scale of assets, but also to set clear requirements on position: Striving to have 2-3 Vietnamese commercial banks in the Top 100 banks with the largest brands in Asia and have 1-2 banks listed on the international stock market. That spirit was further affirmed in Decision 34/QD-NHNN dated January 7, 2019 of the State Bank, showing the determination to build a Vietnamese banking system that is not only stable but also has a strong brand, capable of competing globally.

In recent years, the journey of brand positioning of Vietnamese banks has witnessed significant progress. The Brand Finance 2025 report recorded 13 Vietnamese banks in the Top 500 banks with the highest brand value globally. This figure not only demonstrates the industry's persistent efforts, but is also a positive signal of the maturity and increasingly clear competitiveness of Vietnamese credit institutions in the international market.

However, along with the achievements comes increasing pressure to maintain and enhance the brand image. This forum, with the presence of international experts, opened up a space for in-depth exchange of international experiences, strategic models and practical suggestions for the Vietnamese banking system in the journey of positioning and developing a sustainable brand.

Professor John A. Quelch, former Vice President of Harvard Business School, currently Vice President and Distinguished Professor at China Europe International Business School (CEIBS) shared at the forum. Photo: Hoang Giap

One of the important highlights of the forum was the sharing of Professor John A. Quelch, former Vice President of Harvard Business School, currently Vice President and Distinguished Professor at China Europe International Business School (CEIBS). With extensive experience in the field of strategic marketing in finance and banking, Professor Quelch brought a sharp perspective on the importance of brand positioning in the context of a rapidly shifting global market. He is known by experts as a "Brand Wizard", who has participated in strategic consulting for many of the world's leading financial groups. His arguments at the forum not only clarified the important pillars in brand building but also provided effective approaches to the international market that Vietnamese banks can refer to.

In addition, Mr. Peter Verhoeven, a member of the Anax Invest Board of Directors, who has more than 40 years of banking management experience at Deutsche Bank, Citibank, Standard Chartered, shared many practical experiences in standardizing management according to international practices and developing sustainable internal resources. According to Mr. Verhoeven, a strong banking brand cannot rely solely on communication strategy or external image, but needs to start from a solid management foundation, effective risk control ability, flexible innovation ability and linking brand strategy with long-term development orientation.

Attractive enough to international investors, strong enough to position on the regional financial map

To realize the aspiration of bringing the Vietnamese banking brand to the world, Deputy Governor Pham Thanh Ha said that in the coming time, the State Bank will continue to improve the legal framework, promote innovation, enhance financial capacity and promote digital transformation. These solutions not only create favorable conditions for credit institutions to improve their competitiveness, but are also a necessary step for the Vietnamese banking industry to integrate more deeply into the international financial market, which is increasingly strict in terms of standards and information transparency.

The Deputy Governor emphasized that in the context of globalization and the Fourth Industrial Revolution, the Party and State have identified science, technology, innovation and digital transformation as key driving forces for rapid and sustainable national development. This places even clearer requirements on the banking industry, not only as a financial intermediary, but also as a pioneer in innovation and enhancing the national brand image. The statements of General Secretary To Lam and Prime Minister Pham Minh Chinh quoted in the Deputy Governor's speech emphasized that spirit: "Innovation and digital transformation are not only an option, but also a way to live to realize the aspiration of great power".

The forum “Bringing Vietnamese brands to the world and suggestions for the banking system” organized by Banking Times in Hanoi. Photo: Hoang Giap

The forum is also an opportunity for the banking industry to look back on the past, from building a strong financial foundation to upgrading management capacity according to international standards. Those steps, although quiet, are prerequisites for sustainable and in-depth brand development. The image of a bank in the digital age does not stop at a modern application interface or convenient services, but is also associated with core factors such as reputation, transparency, risk management ability and product creativity.

According to the State Bank leader, proactively learning from successful international models and approaching advanced management thinking is an inevitable direction. “Today’s forum is not only a place to discuss brand theory, but also an opportunity for the Vietnamese banking industry to find answers to the question: How to build a banking brand that is convincing enough for global investors, attractive enough for international customers and strong enough to position itself on the regional financial map,” Deputy Governor Pham Thanh Ha affirmed.

Editor-in-Chief of Banking Times, Ms. Le Thi Thuy Sen, hopes that the forum will become a place to connect intelligence and practical experience, contributing to the formation of new thinking, suggesting effective approaches for the Vietnamese banking system on the journey to affirm the national brand. The openness in exchange, the depth in analysis and the practicality of the sharing at the forum are the practical values ​​that the banking industry can take advantage of to make a breakthrough.

In the coming time, with the determination to innovate, integrate and develop, and with the support of policy makers, experts and the international financial community, the Vietnamese banking industry is facing a great opportunity to not only improve its competitiveness but also gradually conquer the regional and international markets with its own identity and intrinsic strength.

Hoang Lan

Source: https://congthuong.vn/professor-dai-hoc-harvard-hien-ke-xay-dung-thuong-hieu-ngan-hang-viet-386038.html