VPBank named in global 300 most valuable banking brands

February 08, 2020 | 09:45

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Vietnam Prosperity Joint Stock Commercial Bank (VPBank) jumped 81 spots to rank 280th in the Brand Finance Banking 500 list announced earlier this month, featuring the most valuable and strongest banking brands in the world.

vpbank named in global 300 most valuable banking brands

This is the second time VPBank was named among the 300 most valuable banking brands in the world

According to the report of Brand Finance, the world's leading independent brand valuation and strategy consultant which has just announced its top 300 list in early February, VPBank jumped 81 spots to rank 280th and became the first private bank in Vietnam to be in Brand Finance’s top 300.

Brand Finance's representative in Vietnam, Lai Tien Manh, said that, "VPBank made impressive growth in brand value last year to reach the 280th position, which is the highest ranking a private-owned commercial bank from Vietnam has ever achieved. This also highlights the massive growth in brand value compared to the world's banks."

This is the second time VPBank is present among Brand Finance's top banks and maintains the leading position among private-owned banks.

A representative from VPBank said that the ranking was not only an honour to VPBank but also set the stage for further efforts in strengthening the bank’s brand value.

In 2019, VPBank reported a record pre-tax profit of more than VND10.334 trillion ($449.3 million), 9 per cent higher than its plan and 12.3 per cent higher than 2018. The total consolidated revenue of the bank was VND36.356 trillion ($1.58 billion), up 20.3 per cent on-year.

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