Agribank ranks highest among Vietnamese banks in Brand Finance Banking 500

It is the highest ranking among Vietnamese banks, according to Brand Finance.

As of December 31 last year, Agribank’s total asset exceeded VND1.697 quadrillion (US$74.5 billion) and accumulated outstanding loans reached over VND1.31 quadrillion, 70% of which has been taken out for agricultural and rural development.

In this year’s Banking 500 annual report, Brand Finance said Vietnam’s banking sector is one of the fastest-growing in the world with an overall brand value growth of 49%.

All Vietnamese brands in the ranking have experienced growth or add to the country’s total as new entrants, the report said. It has been a very fruitful year for Vietnamese banks, which have observed continuous growth in their balance sheets and income statements, with both deposits and loans issued growing.

This has been bolstered by the nation’s recovery from the pandemic, which was well-managed by the government, resulting in strong economic growth.

Among these brands, MBBank is also one of those going the fastest, with its brand value up by a staggering 113% to US$642 million, followed by Techcombank (up 80% to US$945 million).

In addition, the strong growth in the Vietnamese banking sector has brought two new entrants to the top 500 this year, namely HD Bank (up 53% to US$248 million) and Saigon Hanoi Bank (SHB) (up 63% to US$211 million).