Agribank climbs 16 spots to 157th in the 2022 Brand Finance Banking 500 ranking, which features the most valuable and strongest banking brands in the world. (Photo: VNA)It is the highest ranking among Vietnamese banks, accordingto Brand Finance.
As of December 31 last year, Agribank’s total asset exceeded1.697 quadrillion VND (74.5 billion USD) and accumulated outstanding loansreached over 1.31 quadrillion VND, 70 percent of which has been taken out foragricultural and rural development.
In this year’s Banking 500 annual report, Brand Finance saidVietnam’s banking sector is one of the fastest-growing in the world with anoverall brand value growth of 49 percent.
All Vietnamese brands in the ranking have experienced growthor add to the country’s total as new entrants, the report said. It has been avery fruitful year for Vietnamese banks, which have observed continuous growthin their balance sheets and income statements, with both deposits and loansissued growing.
This has been bolstered by the nation’s recovery from thepandemic, which was well-managed by the government, resulting in strongeconomic growth.
Among these brands, MBBank is also one of those going thefastest, with its brand value up by a staggering 113 percent to 642 millionUSD, followed by Techcombank (up 80 percent to 945 million USD).
In addition, the strong growth in the Vietnamese banking sectorhas brought two new entrants to the top 500 this year, namely HD Bank (up 53percent to 248 million USD) and Saigon Hanoi Bank (SHB) (up 63 percent to 211million USD)./.
VNA
