BIDV named strongest brand in Vietnam this year

Hanoi (VNA) – The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is the strongest Vietnamese brand in 2019 in terms of the Brand Strength Index (BSI), according to the Brand Finance, an independent branded business valuation and strategy consultancy firm.

Last year, the bank held the 5th place.

Its brand was valued at 450 million USD this year, which doubled the 2016 figure of 218 million USD, making it among the 10 most valuable brands in Vietnam for two consecutive years, the consultancy firm said.

The BIDV’s brand strength rating has improved from A in 2016 to AAA- in 2019. It is the only firm in Vietnam to earn the rating this year.

The lender scored 80 out of the 100 in BSI in 2019. The firm also climbed 44 places to secure the 307th position in the world’s 500 most valuable banking brands.

By the end of the year’s first half, the BIDV had had a total asset of more than 1.4 quadrillion VND (60.2 billion USD), up 6.6 percent from the last year’s end. It earned over 4.77 trillion VND in pre-tax profit in the first six months.

Brand Finance is the world’s leading brand valuation firm headquartered in the UK. Its brand evaluation results are annually published in international media such as The Banker, BBC, CNN, CNBC, Bloomberg, The Economist, and The Wall Street Journal.

It is also one of the few agencies to meet the ISO 10668 brand valuation standards./.