Vietcombank has the highest brand value in Vietnam.

Vietcombank (Vietnam Foreign Trade Commercial Bank) has become the most valuable brand in Vietnam in 2024, according to a report recently published by Forbes Vietnam magazine.

Vietcombank (Vietnam Foreign Trade Commercial Bank) became the most valuable brand in Vietnam in 2024. (Photo: Tran Viet/TTXVN)

According to Forbes Vietnam's 2024 list of the top 25 listed brands, the banking sector dominates with 7 representatives, equivalent to 28% of the total brands on the list. With a brand value of US$891.4 million, Vietcombank not only leads the financial industry but also holds the number one position in the entire market. Forbes Vietnam believes that its systematic and sustainable development helps Vietcombank maintain its leading position despite market fluctuations. Previously, Vietcombank was also recognized in the Vietnam 100 Report 2024 published by Brand Finance. According to Brand Finance's assessment, Vietcombank is the bank with the largest brand value in Vietnam and ranks 4th among the top 100 brands nationwide. This year, Vietcombank's brand value is estimated at US$2.04 billion, a 7% increase compared to 2023, marking two consecutive years of maintaining its leading position in the banking industry. Vietcombank also holds the highest credit rating among commercial banks in Vietnam, according to prestigious international organizations such as S&P, Fitch Ratings, and Moody's. Simultaneously, the bank consistently receives the title of "Best Bank in Vietnam" and is honored as "Best Workplace in Asia" by HR Asia magazine. Besides Vietcombank, this year's Forbes Vietnam Top 25 Brands list also includes six other banks: Military Commercial Bank (MB), Vietnam Investment and Development Bank (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Asia Commercial Bank (ACB ), Ho Chi Minh City Development Bank (HDBank), and Orient Commercial Bank (OCB). MB ranks second with a brand value of US$550.2 million, and BIDV ranks third with a brand value of US$449.6 million. The remaining four banks have brand values of $447.8 million each, ACB at $398.3 million, HDBank at $289.8 million, and OCB at $130.5 million. Forbes Vietnam's calculation method follows the general principle that a company's profit is generated from both tangible and intangible assets. Therefore, a company's brand contributes to its profit, and this contribution helps determine its brand value. The total brand value of the top 25 companies in 2024 reached nearly $5.2 billion, with estimated pre-tax profits in 2023 exceeding VND 185,000 billion (equivalent to $7.3 billion). Source: https://baotintuc.vn/tai-chinh-ngan-hang/vietcombank-co-gia-tri-thuong-hieu-lon-nhat-viet-nam-20241217162622357.htm