Two Vietnam banks named ‘world most valuable brands’
(VOV) - Two Vietnamese banks have taken spots on the latest list of the world’s top 500 most valuable banking brands.
This year’s list, compiled by business consultancy Brand Finance in partnership with the Globe and Mail’s Report on Business Magazine, ranks Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) 437th.
It estimates that the country’s largest bank has a brand value of US$197 million, which is down from US$271 million in 2013 the last time it made the top list.
This is the third time Vietinbank has been listed among the top world brands having made the list in 2013 and in 2012.
JSC Bank for Foreign Trade of Vietnam (Vietcombank) came in second in the country with a brand value of US$157 million. This is the first time it has been cited a top 500 bank brand.
The US Wells Fargo bank topped the list with brand value of more than US$34 billion while ICBC from China ranked second with a value of US$27.4 billion.