Mibrand holds brand workshop for banks

Branding consultancy Mibrand Vietnam hosted a workshop for banks to honour the 'Top 30 Banking Brands in Vietnam for 2023' on April 26. The event aimed to provide insight into brand-building in the financial sector, from customer segmentation to product and service diversification. The event also recognised Vietnam-based banks for their outstanding brand building and development efforts.

The workshop focussed on generating new and innovative ideas while emphasising the application of practical methods and the latest technologies to enhance customer experience and strengthen the competitiveness of banking brands.

Lai Tien Manh, CEO, Mibrand Vietnam

"These awards acknowledge banking brands and help them understand the role of brand power in business development, setting challenging goals to deliver the best products and services that leave an impression on customers," said Lai Tien Manh, CEO of Mibrand Vietnam.

The Top 30 most valuable banking brands in Vietnam were recognised through their brand health, ranking, and achievements.

This is the sixth such annual ranking conducted by Mibrand with the purpose of honouring banks with valuable brands and also providing opportunities for Vietnamese banks to have a clearer understanding of the importance of brand development. This allows them to identify risks, potential, and formulate strategic directions for brand development and marketing communications for the future.

According to Mibrand, the Top 30 banks (excluding state-owned) saw little change since last year. Techcombank, MB Bank, and TPBank continue to lead, followed by ACB, Sacombank, and VPBank. Meanwhile, OCB and HDBank both saw growth, each moving up one place in the rankings.

Specifically, BIDV saw an 11-point increase on the comprehensive brand-awareness index. Meanwhile, Vietcombank experienced significant growth in brand recognition in 2023 with a series of campaigns celebrating its 60^th anniversary and leading among banks in terms of customer usage proportion.

Last year also witnessed a significant increase in consumer sensitivity towards products and services within the banking sector, as Sacombank emerged as a bank with strong customer loyalty by portraying an image of a pioneering bank.

HDBank increased by 12 points on the brand-favourability index, attributed to various activities benefiting end consumers, as well as sustainable development initiatives with green financial products and community-focused initiatives.

OCB saw a 28-point increase on the brand readiness index through activities from expanding branch or transaction offices to enhancing the OCB OMNI digital banking ecosystem as it aimed to diversify customer targets.

Mibrand Vietnam's aim with this event was to create a positive forum that could provide valuable insight and support banks in understanding trends and applying lessons learned to business operations to improve their competitiveness in the current landscape.

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