13 Vietnamese banks named in world’s top 1,000

By Vi Vu   July 17, 2017 | 02:03 pm GMT+7

Chinese and American banks continued to dominate this year's list compiled by The Banker.

Vietnam's 13 largest commercial banks have been named among the world’s top 1,000 based on assets, profits and capital.

Vietinbank jumped six positions from last year to 376th, followed by other big lenders Agribank, Vietcombank, BIDV and Sacombank, according to the Top 1000 World Banks 2017 list released this month by The Banker, a publication owned by The Financial Times.

Vietinbank, Vietcombank and BIDV in May also made the Forbes list of the world’s 2,000 largest listed companies, and were named among the world's 500 most valuable banking brands by Brand Finance in February.

Vietnamese banks have reported robust business during the first half this year. Vietcombank said its pre-tax profit jumped 20 percent on-year, while Sacombank enjoyed staggering growth of 70 percent.

The Banker's list evaluated more than 4,000 banks around the world, and Chinese and American banks continued to dominate the top 10 this year.

Banks from other BRICS countries also scored well, it said. Russian bank profits rose 369 percent, followed by Brazil with 179 percent and India with 26 percent.

Editor Brian Caplen said in a statement that: “While some analysts declared the BRICS concept dead, The Banker’s Top 1000 ranking shows that fast growth in major emerging markets is still a huge economic driver.”

The list also highlights the rise of banking in Indonesia, which had two banks enter the top 20 in Asia-Pacific, bumping out Thai and Taiwanese institutions.