This is a goal not only in terms of asset size but also in terms of reputation, brand and competitiveness of the Vietnamese banking system in the era of deep integration.
Learn from international experience
According to Deputy Governor of the State Bank Pham Thanh Ha, to realize the goal of having 2-3 Vietnamese commercial banks in the top 100 banks with the largest brands in Asia, the State Bank has synchronously deployed solutions to improve financial capacity and standardize the management of the commercial banking system according to international practices.
In particular, commercial banks are making efforts to increase transparency and innovation. These are important foundations for building a strong, professional, internationally competitive Vietnamese banking brand.
Deputy Governor of the State Bank Pham Thanh Ha said that in the context of globalization and the Fourth Industrial Revolution taking place strongly, our Party and State identify science , technology, innovation and digital transformation as key driving forces to bring the country to rapid and sustainable development.
The determination to improve competitiveness, develop a strong banking brand, and gradually reach regional and global levels is a practical contribution, affirming the position and increasing the value of the national brand in the era of deep integration.
According to Brand Finance's 2025 rankings, 13 Vietnamese banks have entered the Top 500 banks with the highest brand value globally. "This is a positive sign, and at the same time, it also sets an increasing demand for building strong and sustainable brands," the Deputy Governor emphasized.
In that trend, learning international experience, approaching modern brand management models and updating strategic thinking is extremely important.
Editor-in-Chief of Banking Times Le Thi Thuy Sen commented that a good brand needs consistency between the two aspects of “content” and “form”. Content is the nature of the business’s operations, the bank must be methodical, meeting the requirements in good management and operation. Form is the way it is expressed on the outside. If one of the two above factors is missing, the bank’s brand cannot reach far.
“A well-functioning bank that does not know how to build a brand will waste its value and vice versa. Banks need to recognize the importance of branding as a huge value. Branding is a resource,” Ms. Sen stated.
Investing in building brand trust can translate into higher profits
Professor John A. Quelch, who is considered the world's "Brand Wizard", believes that the banking sector in Vietnam is developing quite healthily because there are many competing banks in the market, allowing users to have many choices. If we look at the current economy , the value of about 600 billion USD in deposits and 4% inflation, the exchange rate is quite stable.
However, Mr. John A. Quelch also pointed out that the State Bank should allow more investment, a larger proportion of foreign investment in banks, not only in state-owned commercial banks, but also in joint-stock commercial banks.
The banking system needs more foreign investment to maintain its health, more opportunities for mergers and acquisitions, creating banks of sufficient size and suitability to invest intelligently and successfully in high-quality information technology, as well as to invest abroad.
In particular, Mr. John A. Quelch emphasized that investing in building brand trust can translate into higher profits for each customer. There are many successful brands that do not provide the highest quality products on the market, but the price-quality relationship is extremely positive.
"Brands need to know who they are, and avoid serving and satisfying everyone, which I often see in banking brands in Vietnam: Many brands are quite similar, with no clear distinction between commercial banks," said Mr. John A. Quelch.
In many cases, if the brand promotion is not good, customers will only prioritize choosing bank locations near them, customers do not want to have to travel too far to go to a bank branch, even if that bank has extremely good service.
"If you want to be different in banking, you need to create something truly special, not just a slogan or offer higher interest rates than your competitors. This is not a sustainable difference, but you need to offer something truly smart and this is a challenge that I want to give to banks in Vietnam at this time, because banking brands in Vietnam are quite similar," commented Mr. John A. Quelch.
According to Ms. Thai Huong, founder and Chairwoman of TH Group's Strategy Council and General Director of Bac A Joint Stock Commercial Bank, doing business has never been an easy path, especially currency trading, because this special commodity has both ownership value and usage value. Thanks to the mindset of "Smart money, skillful money", Bac A Bank has built its brand and created a sustainable and prosperous customer class of today.
The forum “Bringing Vietnamese brands to the world and suggestions for the banking system” organized by Banking Times on May 5 in Hanoi attracted 150 delegates representing leaders of the State Bank, experts, and representatives of prestigious domestic and foreign financial institutions.
At the forum, delegates listened to Mr. Peter Verhoeven, member of the Anax Invest Board of Directors, who has more than 40 years of experience in the global financial services industry and is a famous expert in Basel III training for banks around the world, share stories and solutions for building a bank brand based on a solid internal foundation.
Source: https://hanoimoi.vn/xay-dung-thuong-hieu-ngan-hang-muon-khac-biet-phai-tao-ra-su-dac-biet-701256.html
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