VietinBank ranked highest of Vietnam’s banks in Top 100 ASEAN Banks 2016

By VietinBank, Dam Tuan   April 9, 2016 | 12:20 pm GMT+7
VietinBank ranked highest of Vietnam’s banks in Top 100 ASEAN Banks 2016
VietinBank is recognized as one of Vietnam best commercial banks in the region and global. Photo by VietinBank

Among the 19 Vietnamese commercial banks listed in the Top 100 ASEAN Banks 2016 report released on April 8, VietinBank claimed top spot in terms of core capital and pre-tax profit.

Leading finance and banking magazine The Banker has announced its top 100 banks in the ASEAN region for 2016.

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) ranked 25th with Tier 1 Capital of more than $2.33 million and pre-tax profit of over $343 million USD.

Besides the privilege of being recognized by The Banker, VietinBank was one of three Vietnamese banks to make the Banking 500 list - the world’s most valuable banking brands released by BrandFinance.

VietinBank ranked 379, followed by Vietcombank at 413 and BIDV at 450.

This marks a jump of 58 positions from 2015, and its brand value has increased from $197 million to $249 million, up 25 percent.

According to The Banker, Vietnam's banking system has accelerated quickly to become the second fastest country in terms of growth (15.66 percent) in the Top 100 ASEAN Banks 2016 behind Cambodia with 30.4 percent. Surprisingly, ACLEDA Bank was the only Cambodian institution to appear on the list.

However, Vietnamese banks ranked in the bottom part of The Banker’s 2016 list regarding Return on Assets (ROA) and Return on Capital (ROC) with only 0.8 percent and 12.19 percent, respectively.

The list remains dominated by banking giants from Malaysia, Singapore and Thailand, that hold nearly three quarters of the 100 largest ASEAN banks’ total assets.