Vietnam Report announces Top 10 prestigious banks | Business | Vietnam+ (VietnamPlus) (2024)
Customers conduct banking transactions at a Vietcombank branch. The bank tops the list of the 10 most prestigious commercial banks in Vietnam in 2022. (Photo baochinhphu.vn)
The 10 banks honoured as the most prestigious commercial banks inthe country are Vietcombank, VietinBank, Techcombank, Military Bank, VPBank,ACB, BIDV, TPBank, VIB and AgriBank.
Meanwhile, the list of the 10 most prestigious private joint-stockbanks comprises Techcombank, VPBank, ACB, TPBank, VIB, HDBank, Sacombank, SHB,OCB and MSB.
The banks have been ranked based on three criteria: financialcapacity shown on the latest financial statement, credibility on mediaevaluated by the Media Coding method, and stakeholderopinions collectedina surveyin June.
The survey also showed that48% of bank customersthinkthe banking industry has been playinga leading role in thecountry'seconomic recovery, 77% think banks have been maintaining decent customerservices, and 58.9% thinkbanks have managed to adapt their products tothe pandemic.
Regardingbankingoutlook, 63.6% of financial expertsexpect an industry-widegrowth rate higher than last year, whereas 9.1%are cautious about the future. These figures reflect a substantial shift inexpertsentiment since the pandemic, as nearly 77% were concerned aboutthe banking downturn in 2020.
The optimistic experts also forecast that credit growthwouldtop 14% in 2022, with retail creditremaining the driving force behind thegrowth. Likewise, deposits are expected to soar thanks to high-interest rates.
Regarding financial indicators, 54% of banksprojectCost-to-Income ratios lowerthan last year. Amidpost-pandemic mounting non-performing loans, 45.5% of banks plan to raiseProvision for Risk, 36.4% keep the indicatorunchanged, and the restreduce the hand.
Additionally, 54.6% of banks underscore raising chartered capitalas one of their major targets for 2022. It is also worth noting that over 90%willundertake digital transformation across the board, while the restwill embrace it partly.
Regarding credibility in media, a bank is recognised as"safe" when itspositive-information-to-total-encoded-informationratio is at least 10 % higher than the ratio of negative information andrecognised as "best" when the difference surpasses 20%.
The survey showed that 100% of banks had reached the"safe" level and 60.5% the "best" level, indicating thatbanks have been putting a lot of effort into media management./.
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietnamese: Ngân hàng Thương mại Cổ phần Công thương Việt Nam), trading as Vietinbank, is a state-owned Vietnamese bank. As of 2023, it is Vietnam's second-largest bank, with VND 1,800 trillion (around $76 billion) of assets under management.
, Techcombank, BIDV, Military Bank, VPBank, ACB, AgriBank
AgriBank
The Vietnam Bank for Agriculture and Rural Development or Agribank (Vietnamese: Ngân hàng Nông nghiệp và Phát triển Nông thôn Việt Nam) is the largest commercial bank in Vietnam by total assets. It is a state-owned corporation under a special status.
https://en.wikipedia.org › wiki › Vietnam_Bank_for_Agricult...
Vietnam Report announced the list of Top 10 prestigious Vietnamese commercial banks in 2023, including Vietcombank, VietinBank, Techcombank, BIDV, MB, VPBank, ACB, Agribank, TPBank and VIB.
Here, data revealed that Techcombank is the most trusted bank with a 'Recommend' score of 81.2. MBB (74.6) and TPBank (74.4) came in as the second and third 'most recommended' respectively.
The ten banks honoured as the most prestigious commercial banks in the country in 2023 are Vietcombank, VietinBank, Techcombank, BIDV, Military Bank, VPBank, ACB, AgriBank, TPBank, and VIB.
There are five U.S. banks and financial institutions operating in Vietnam. Citibank and Far East National Bank have branches, Wells Fargo and Visa International have representative offices, and JP Morgan Chase has both a branch and a representative office.
Bank of America has decided to shut its Hanoi branch and will wind down its Vietnam operations by the end of next month, a member of its staff said Tuesday. The staff member said the bank's U.S.-based head office had decided to end operations in Vietnam to reduce costs.
Foreign residents of Vietnam can open local bank accounts - but usually only if they have a visa or residence permit for 12 months or more. That might mean that getting an account arranged with a bank is tricky.
1. JPMorgan Chase & Co. Established in 1799, JPMorgan Chase & Co. is a global investment bank and financial services company that's based in New York. It offers a wide range of banking products including deposit accounts, credit cards, home loans, auto loans and business banking.
Hanoi-based VietinBank is the largest bank in Vietnam by Tier 1 capital, with $2.3bn of core capital. This is significantly more than the Tier 1 reserves of the second largest bank in the country, Vietcombank, which has $1.6bn of core capital. Both banks have benefited from foreign investment in recent years.
* One simple solution is to have multiple bank accounts so that you have a backup ATM card, or a credit card that allows cash withdrawals, but remember to keep the backup separate from your main card. * Vietnam is still largely a cash society, so people have a tendency to carry large wads, especially while on trips.
Branches for JPMORGAN CHASE BANK, N.A., HO CHI MINH CITY BRANCH in Viet Nam. Below you can find the local branches for JPMORGAN CHASE BANK, N.A., HO CHI MINH CITY BRANCH in Viet Nam.
There are five U.S. banks and financial institutions operating in Vietnam. Citibank and Far East National Bank have branches, Wells Fargo and Visa International have representative offices, and JP Morgan Chase has both a branch and a representative office.
Bank of America has decided to shut its Hanoi branch and will wind down its Vietnam operations by the end of next month, a member of its staff said Tuesday. The staff member said the bank's U.S.-based head office had decided to end operations in Vietnam to reduce costs.
VietNamNet Bridge - The big five are state -owned banks Agribank, BIDV, VietinBank and Vietcombank, and Saigon Commercial Bank (SCB), a joint stock bank with the fifth largest total assets in the system.
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Customers conduct banking transactions at a Vietcombank branch. The bank tops the list of the 10 most prestigious commercial banks in Vietnam in 2022. (Photo baochinhphu.vn)
