Vietnamese banks named among world's most valuable brands

By Thanh Thu   February 2, 2017 | 04:59 am PT
BIDV, Vietinbank and Vietcombank have once again been listed in the top 500 banking brands compiled by Brand Finance.

The U.K. business consultancy company Brand Finance has recently listed three Vietnamese lenders among the world's 500 most valuable banking brands of 2017.

The Bank for Investment and Development of Vietnam, or BIDV, ranked 401st with a brand value estimate of $255 million, up $37 million and 12 spots from a year ago.

Meanwhile, Vietinbank fell out of the top 400 to hit number 408 this year.

Vietcombank, another major lender, was ranked at 461st with a brand value of $201 million total, down 11 spots.

The three banks were also named in Forbes’ list of 2,000 largest companies in the world last year, with BIDV coming in at number 1691, followed by Vietinbank at 1808 and Vietcombank at 1843.

This year, China's Industrial and Commercial Bank of China (ICBC) surpassed the U.S. bank Wells Fargo to top the Brand Finance list with a value of $47.8 billion, up 32 percent year-on-year. The U.S lender, after seeing its brand value fall by 6 percent, followed with $44.1 billion.

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