Vietcombank becomes Vietnam’s first brand in Southeast Asia’s top 30 most valuable
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been honoured as one of Southeast Asia’s Top 30 Most Valuable Brands in 2024, as announced by leading global market research company Kantar BrandZ.
Vietcombank Deputy General Director (left) Le Hoang Tung receives the "Top 30 Most Valuable Brands in Southeast Asia" certificate from Director of Strategic Development at Kantar Insights Sumit Kamra. (Photo: VietnamPlus)
Hanoi (VNA) -𒉰 The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been honoured as one of Southeast Asia’s Top 30 Most Valuable Brands in 2024, as announced by leading global market research company Kantar BrandZ.
Kantar BrandZ, the world's leading market research company, recently unveiled its annual list of Southeast Asia's most valuable brands, with Vietcombank claiming the 20th position. The banking giant achieved a brand valuation of 2.105 billion USD, or a 18% year-on-year increase.
At the official certificate presentation ceremony held at Vietcombank’s headquarters on June 11, Deputy General Director Le Hoang Tung said that the recognition is a testament to Vietcombank's persistent efforts in the brand development journey as well as innovation to enhance customer experience. He described it as a milestone for the bank on the regional brand map.
According to Kantar's comprehensive analysis, Vietcombank leads Vietnam's banking sector with a commanding 14% market share in consumer mindshare. More remarkably, the institution's Demand Power Index reached 204 points, significantly outpacing domestic competitors.
The bank’s strength transcends national boundaries, demonstrating superiority across all brand value metrics as compared to the industry’s average of 100 points. It achieved exceptional scores of 148 points for brand memorability and 143 points for emotional brand connection and consumer need fulfillment. These indicators reflect the powerful bond between customers and the brand.
Additionally, it scored 127 points for differentiation and industry leadership, demonstrating that the bank possesses distinctive services and products that competitors do not have. The metrics not only reinforce Vietcombank’s position as Vietnam’s premier banking institution but also serve as evidence of the bank’s sustainable brand-building journey, while reflecting the dynamic transformation of Vietnamese enterprises in regional markets.
The Kantar BrandZ brand valuation methodology relies on two fundamental pillars of financial value and brand contribution. Brand contribution is determined through comprehensive consumer surveys that measure current brand appeal, future value creation potential, and premium pricing capability.
The combination of qualitative and quantitative data enables it to create the rankings that most accurately reflect brand value in consumer minds and marketplace reality.
Vietcombank's inclusion as the sole Vietnamese representative in this elite group showed that the institution has strong business performance, while successfully building a powerful brand in the minds of both domestic and foreign consumers.
Strategic Development Director at Insights Division Sumit Kamra described Vietcombank as a symbol of trust, innovation, and commitment to serving the community. Amidst fierce competition, being honoured in this ranking means that the bank has created real value for customers and unceasingly innovated to make differences.
Standing alongside regional financial giants such as DBS Group, UOB Bank, and multinational OCBC Bank is a vivid demonstration of the banks’s solid foundation and regional – scale positioning.
This recognition also serves as a crucial stepping stone for Vietcombank to continue its journey towards conquering new heights, not only in the region but also on the international stage./.
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