Making news

BIDV among world top three banks of highest brand strength change

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) recorded a brand strength improvement of 22 percent between 2018 and 2019, the third largest change among 500 banks worldwide.

The ranking was part of the 2019 list of the world’s top 500 valuable bank brands recently announced by the Brand Finance, an independent branded business valuation and strategy consultancy firm.

BIDV was 307th on the list, up 44 places against 2018. First named in the top 500 in 2016, it landed at 405th place worldwide and 30th place in Southeast Asia the next year.

As of December 31 last year, BIDV’s total assets exceeded 1.28 quadrillion VND (55.11 billion USD), the most among banks in Vietnam. The bank also posted more than 9.63 trillion VND (414.2 million USD) in pre-tax profit, an annual increase of 11 percent.

Apart from BIDV, the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were also ranked on the list.

VPBank was the first and only private Vietnamese bank to be named, at number 361. VietinBank and Vietcombank moved up significantly from 310th and 368th in 2018 to 242nd and 325th this year, respectively.