The headquarters of Vietcombank in Hanoi (Photo: VNA) Hanoi (VNA) – The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) has become one of the 30 strongestbanks in the Asia-Pacific region in the recent rankings of The Asian Bankermagazine.
The Asian Banker compiled a list of the top 500banks ranked by assets (AB500 Rank) and another ranking the 500 strongest banksby confidence in the long-term profitability from their core business (StrengthRank).
In terms of the Strength Bank, Vietcombankranked 29th among the top 500 banks, up 19 places from the 2017 rankings. Italso topped the 14 Vietnamese banks in the list.
It stood at the 169th position in the AB500Rank, jumping 19 places from 2017.
Vietcombank’s total asset was estimated at over1 quadrillion VND (43.1 billion USD) by the end of 2018. Its profit last yearapproximated 18.4 trillion VND, up 63.5 percent from 2017, taking the leadamong Vietnamese banks.
It was also the first major bank of Vietnam tohave brought the rate of non-performing loans to under 1 percent two yearsahead of schedule.
Vietcombank aims to become the No. 1 bank inVietnam, one of the 100 strongest banks in the region, and one of the 300largest financial-banking groups in the world by 2020.-VNA
VNA
