Customers make transactions at a Vietcombank office. Vietcombank is the Vietnamese bank with the highest brand value in 2024 based on the world's brand valuation consultancy Brand Finance. — Photo VCB

HÀ NỘI — Fifteen Vietnamese banks are named among the world’s top 500 most valuable banking brands this year according to the Brand Finance Banking 500 2024 ranking.

In the recently released ranking, Vietcombank is the Vietnamese bank with the highest brand value in 2024. Globally, Vietcombank ranks 133rd, up 4 positions compared to 2023.

BIDV is the next Vietnamese bank listed in the ranking with 151st position, up 10 positions compared to 2023.

VietinBank and Techcombank follow at 157th and 160th, up 14 and 3 positions, respectively, compared to last year.

Two other banks also ranked in the list are Agribank (162nd) and VPBank (175th). However, the rankings of these two banks decreased slightly compared to 2023.

Among the 15 banks in the top 500 most valuable banking brands in 2024 TPBank, LPBank and MSB are new faces compared to the Brand Finance Banking 500 Ranking 2023, ranked at 326th, 424th and 458th.

Meanwhile, VIB is the bank with the highest ranking increase. From 491st in 2023, this bank rises to 425th this year.

Three other banks, ACB, Sacombank and HDBank, also have impressive improvement in rankings in 2024, with an increase of more than 30 positions.

In general, most Vietnamese banks, excluding Agribank, VPBank and SHB, recorded an increase in brand value rankings against last year.

According to Brand Finance, the combined value of the world’s top 500 most valuable banking brands has reached a record level of US$1.44 trillion, almost double what it was a decade ago.

Brand Finance’s research indicates that local and regional banks are performing as well as – and, in many cases, outperforming – global banks in terms of positioning their brands in the hearts and minds of customers.

According to David Haigh, chairman & CEO of Brand Finance, local banks increasingly outshine their larger counterparts in brand strength. Dominant brands thrive in singular markets with limited competition, while banks expanding into multiple markets may successfully augment their brand value but risk diluting brand strength. — VNS