Fifteen Vietnamese banks named in global top 500 banking brands

Of those, nine climbed to a higher placing, three banks were named for the first time, while three saw slight drops in the rankings.

Specifically, the Vietnam International Commercial Joint Stock Bank (VIB) climbed 66 places from 491st in 2023 to 425th in 2024.

The Ho Chi Minh City Development Bank (HDBank) moved up 33 places to 366th in 2024 from 399th in 2023. Sacombank moved up 32 places to 322nd. ACB ranked 243rd, moving up 30 places while Vietinbank ranked 157th from 171st in 2023.

Other banks which saw higher rankings including BIDV (151st, up 10 places), Vietcombank (133rd, up four), Techcombank (160th, up three) and MB (227th, also up three places).

TPBank, LPBank and MSB were named in the list for the first time, ranking 326th, 424th and 458th, respectively.

Meanwhile, Agribank dropped from 159th in 2023 to 162nd, VPBank from 173rd to 175th and SHB from 419th to 436th.

The report from Brand Finance showed that 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.

Chinese banking brands recovered in value, holding on to top four most valuable banking brands spots and increasing in brand value.

ICBC (Industrial and Commercial Bank of China) maintains its position as the world's most valuable banking brand for the eighth consecutive year, posting a three per cent rise in brand value to US$71.8 billion. China Construction Bank, the Agricultural Bank of China and the Bank of China secure second, third, and fourth positions respectively.