BIDV among world top three banks of highest brand strength change
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) recorded a brand strength improvement of 22 percent between 2018 and 2019, the third largest change among 500 banks worldwide.
Illustrative photo (Source: VNA)Hanoi (VNA) – The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) recorded a brand strength improvement of 22 percent between 2018 and 2019, the third largest change among 500 banks worldwide.
The ranking was part of the 2019 list of the world’s top 500 valuable bank brands recently announced by the Brand Finance, an independent branded business valuation and strategy consultancy firm.
BIDV was 307th on the list, up 44 places against 2018. First named in the top 500 in 2016, it landed at 405th place worldwide and 30th place in Southeast Asia the next year.
As of December 31 last year, BIDV’s total assets exceeded 1.28 quadrillion VND (55.11 billion USD), the most among banks in Vietnam. The bank also posted more than 9.63 trillion VND (414.2 million USD) in pre-tax profit, an annual increase of 11 percent.
Apart from BIDV, the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were also ranked on the list.
VPBank was the first and only private Vietnamese bank to be named, at number 361. VietinBank and Vietcombank moved up significantly from 310th and 368th in 2018 to 242nd and 325th this year, respectively.-VNA
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
