VPBank tops joint stock commercial banks in brand value

On July 31st, Forbes Vietnam announced the list of Top 40 most valuable brands in Vietnam in 2018, of which VPBank ranked 13th with the brand value of USD 99.2 million, up from the 24th position in 2017, outperforming other joint stock commercial banks.

According to Forbes Vietnam, the total brand value of the top 40 enterprises has increased by more than 50% y-o-y, reaching more than USD 8.1 billion.

Although FMCG group accounts for a large proportion, the finance and banking group consolidates its second place with 8 out of 40 brands in the list. This year, the top three banks remain state-owned banks, i.e. Vietcombank, Vietinbank and BIDV, ranking 9th, 11th and 12th respectively. Besides, VNPT, Vinhomes and Vinaphone are three big brands joining the ranking for the first time.

Top 15 most valuable brands:

No.

Company

Brand Value (million USD)

Business Activities

1

Vinamilk

2280

Milk

2

Viettel

1390

Telecommunications

3

VNPT

416

Telecommunications

4

Sabeco

393

Beer, beverage

5

Vinhomes

384

Real Estate

6

Vinaphone

308

Telecommunications

7

Vingroup

307,2

Multisectoral

8

Masan Comsumer

238

FMCG (Fast-moving consumer goods)

9

Vietcombank

177,9

Finance and Banking

10

FPT

169

Information Technology

11

Vietinbank

153,6

Finance and Banking

12

BIDV

146,2

Finance and Banking

13

VPBank

99,2

Finance and Banking

14

Vincom Retail

91,6

Retail

15

Techcombank

89,2

Finance and Banking

 

Forbes Vietnam shared: "VPBank has developed dynamically in recent years, using digital marketing as a main channel to promote brands and products. In parallel with traditional retail banking products targeting SME clients and retail customers, VPBank is the first bank to launch Timo digital bank, catching the trend of using mobile phones and tablets..

In addition, VPBank owns 100% shares of FE Credit, a consumer finance company. FE Credit now accounts for about 50% of the market share of consumer installment loans for motorbike and telephone, unsecured loans, etc. in Vietnam.”

Ranking of banks entering top 40 most valuable brands in Vietnam over years:

 

2016

2017

2018

Vietinbank

7

7

9

Vietcombank

6

8

11

BIDV

9

10

12

VPBank

26

24

13

Techcombank

24

27

15

MB Bank

19

19

23

Sacombank

23

32

 

ACB

32

36

33

HD Bank

   

40

 

In terms of brand value, while most banks increased their value y-o-y, VPBank was the most notable one with a brand value of $ 99.2 million, which doubles the value of 2017 and triples the value of 2016.  

Sharing about the remarkable growth of its brand value, Mr. Tran Tuan Viet, Head of Marketing and Communication Center of VPBank, said that the recognition of Forbes Vietnam reaffirmed VPBank's efforts over the years to build a dynamic and friendly commercial bank. With the desire to provide customers with the most convenient banking experience, over the past months of 2018, VPBank has continuously introduced to customers many new products and services, of which the most prominent is VPBank Dream digital platform, VPBank Diamond for affluent segment and WE for women-owned enterprises.  

"VPBank’s new ideas and services promise to deliver the most convenient, unique and interesting customer journey while at the same time, promote brand value the bank’s growth the future," said Mr. Tran Tuan Viet.

In the first six months of 2018, VPBank reported a pre-tax profit of VND 4,375 billion, up 34% from the end of 2017 and completed the plan set by the General Meeting of Shareholders. NIM rose from 9% at the end of 2017 to 9.42% in the first half of 2018. ROE and ROA continued to be the highest in the market, 22.36% and 2.46% respectively. Particularly, in the report IFC announced in early August, VPBank was considered by IFC as one of three typical examples of corporate management with many breakthrough improvements.

Brand value of Top 8 banks over years (Unit: Million USD).

 

2016

2017

2018

Vietinbank

147

134,5

153,6

Vietcombank

135

137

177,9

BIDV

125

124,32

146,2

VPBank

37,7

46,4

99,2

Techcombank

39,7

35,9

89,2

MB Bank

61,7

63

76,4

Sacombank

47,6

27,9

 

ACB

25,3

26,3

37,5

HD Bank

   

26,7

 

The results are based on Forbes’ global rating methodologies, assessing how much the brands help businesses generate more revenues. The most valuable brands belong to the companies with the highest revenues in their respective industries.

After establishing a list of 80 branded companies, Forbes Vietnam along with Vietnam Capital Securities (VCSC) calculated revenue before tax, and evaluated the companies’ intangible assets. Information was gathered from companies’ financial reports as well as data available on stock markets. Unlisted companies have also provided financial documents to Forbes for assessment and evaluation.

Brand valuation is determined by how much a brand can contribute to business success in each industry. Final brand values are based on the average Price-Earnings Ratio (P/E) of each industry. It is measured by current share prices over per share earnings. The higher the P/E rate the more overvalued the brand is. To evaluate the brands of unlisted companies, Forbes Vietnam compared companies of the same size within the same segment and industry.

For more information, please visit our website: https://www.vpbank.com.vn/

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