HÀ NỘI — The Vietnam Bank for Agriculture and Rural Development (Agribank) jumped 17 spots to rank 173rd in the recently announced Brand Finance Banking 500 list for 2021, which featured the most valuable and strongest banking brands in the world.
As of December 31 last year, Agribank’ total assets reached nearly VNĐ1.57 quadrillion (US$68.07 billion), with its capital exceeding VNĐ1.45 quadrillion. The bank’s accumulated outstanding loans surpassed VNĐ1.2 quadrillion, with nearly 70 per cent invested in agricultural and rural development.
According to Brand Finance, the world’s leading brand valuation consultancy, as governments scramble to stimulate economic growth in the face of the ongoing global health crisis, and profits and interest rates take a hit, nearly two-thirds of the world’s 500 most valuable banking brands have recorded brand value losses.
It said Việt Nam’s banking sector has seen the greatest year-on-year brand value growth compared to any other nation in the ranking, standing at 23 per cent. Việt Nam’s ability to effectively control COVID-19 has allowed it to buck the sector-wide trend of declining brand value. Internal reforms have strengthened the accountability of the Vietnamese financial sector, which has boosted revenues, brand reputation and trust.
Việt Nam’s banking sector has also recorded a 753 per cent five-year cumulative brand value growth, the second fastest national growth in the ranking, noted Brand Finance. — VNS
