The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) again tops the list of ten most prestigious commercial banks in Vietnam this year, according to the latest ranking announced by Vietnam Report.
Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) again tops the list of ten most prestigious commercial banks in Vietnam this year, according to the latest ranking announced by Vietnam Report. The bank is followed by the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and Vietnam Technological and Commercial Joint Stock Bank (Techcombank) in the second and third places, respectively. The list also includes the Military Commercial Joint Stock Bank (MBBank), Asia Commercial Joint Stock Bank (ACB), Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Tien Phong Commercial Joint Stock Bank (TPBank), Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and Vietnam Bank for Agriculture and Rural Development (Agribank). The ranking was based on the banks’ financial capacity, media reputation and customers’ perception and satisfaction. Data from the General Statistics Office shows that Vietnam’s credit growth reached 5.47 percent in the first half of 2021, doubling the same period last year’s figure. Despite impacts caused by COVID-19, the banking sector has enjoyed high growth in profit during the period, with bad debts under good control. Vietnam Report Director Vu Dang Vinh said the firm’s survey of experts and banks indicates that the top three macro-economic factors influencing the banking sector’s performance in 2021 are likely to be the widespread outbreak of the COVID-19, the macro-economic recovery, and the State’s relevant policies and regulations. Meanwhile, the three micro-economic factors that may have the biggest impact on the industry include fintech, risk management and internal control system, service and product quality. Some 52.94 percent of surveyed experts and banks said that the banking industry will see better growth and performance this year. It is believed this year’s credit growth is likely to be equal to or higher than 2020’s figure./.