10:06 | 19/02/2019 Economy
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has become the first Vietnamese lender to be named on the list of the top 300 most valuable banking brands, as recently announced by the Brand Finance.
|Illustrative image - Source: VNA|
Accordingly, VietinBank’s brand value jumped by 64 percent to 625 million USD in the 2019 rankings, placing it at spot number 242 – the highest among Vietnamese banks to date. It was also one of the top 20 fastest brand climbers globally, ranking eighth. Its brand strength index rose from 67 to 77.33 out of the total 100 point, while its ranking improved from AA- in 2018 to AA in 2019.
It was the seventh time VietinBank had been on the Brand Finance’s list with improving brand value. Last year, it placed 310th in the top 500 list.
The Brand Finance’s top 500 list also saw the presence of the Bank for Investment and Development of Vietnam (BIDV), the Commercial Bank for Foreign Trade of Vietnam (Vietcombank), and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
BIDV and Vietcombank moved up from number 351 and 368 in 2018 to 307 and 325 this year, respectively.
VPBank was the first and only private Vietnamese bank to be named in the 2019 list. It was valued at 354 million USD.
Brand Finance is the world’s leading brand evaluation firm and is headquartered in the UK. Its brand evaluation results are annually published in international media such as The Banker, BBC, CNN, CNBC, Bloomberg, The Economist, and The Wall Street Journal.
It is also one of the few agencies to meet the ISO 10668 brand valuation standards.