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Agribank leads other eight Vietnamese banks in global brand finance ranking

10/02/2021

Brand Finance has just announced the Brand Finance Banking 500 2021 report which named world’s most valuable banking brands.

Brands are selected and evaluated and ranked based on the criteria of market share, growth rate of assets, financial capacity, operational efficiency as well as brand reputation. In this ranking, Agribank in the 173rd position, climbed 17 places compared to 2020 and is also the highest ranking among the top nine commercial banks of Vietnam in the global ranking in 2021.

In 2020, banking activities experienced many challenges and difficulties due to epidemics and natural disasters. In that context, Agribank still received many prestigious awards such as: Vietnam National Brand 2020; Top 10 largest enterprises in Vietnam VNR500; Outstanding bank for high-tech agricultural investment; Outstanding bank for the community; Corporate Social Responsibility & Green Program of the Year (Silver- Asia Pacific region); Mobile Banking &Payment Initiative of the Year (Vietnam); Domestic Retail Bank of the Year (Vietnam), etc.

As of December 31, 2020, Agribank's total assets reached nearly VND 1.57 million billion, capital resources reached over VND 1.45 million billion, total outstanding loans to the economy reached over VND 1.21 million billion. In which, nearly 70% of outstanding loans are for investment in agricultural and rural development.

Vietnam’s banking sector has seen the greatest year-on-year brand value growth compared to any other nation in the ranking, standing at 23%. Vietnam’s ability to effectively control and constrain COVID-19 has allowed it to buck the sector-wide trend of declining brand value.

Internal reforms have strengthened accountability of the Vietnamese financial sector, which has had the knock-on effect of boosting not just revenues, but brand reputation and trust. Vietnam’s banking sector has also recorded a 753% 5-year cumulative brand value growth, the second fastest national growth in the ranking.

Brand Finance is the world's leading independent brand valuation and strategy consultancy established in 1996 in the UK. Brand finance quantifies the financial value of brands. Brand Finance puts 5,000 of the world’s biggest brands to the test every year. Ranking brands across all sectors and countries, Brand Finance publishes nearly 100 reports annually. Brand Finance has always been an advocate and active proponent of brand valuation standards from ISO 10668 on monetary Brand Valuation to ISO 20671 on qualitative Brand Evaluation.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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