Transactions at Agribank (Photo: VNA)Hanoi (VNA) – The Vietnam Bank for Agricultureand Rural Development (Agribank) jumped 17 spots to rank 173rd in the recently announcedBrand Finance Banking 500 list for 2021, which featured the most valuable andstrongest banking brands in the world.
As of December 31 last year, Agribank’ total assets reachednearly 1.57 quadrillion VND (68.07 billion USD), with its capital exceeding 1.45 quadrillion VND.The bank’s accumulated outstanding loans surpassed 1.2 quadrillion VND, of whichnearly 70 percent was invested in agricultural and rural development.
According to the latest report by Brand Finance, the world’sleading brand valuation consultancy, as governments scramble to stimulateeconomic growth in the face of the ongoing global health crisis, and profitsand interest rates take a hit, nearly two-thirds of the world’s 500 mostvaluable banking brands have recorded brand value losses.
It said Vietnam’s banking sector has seen the greatestyear-on-year brand value growth compared to any other nation in the ranking,standing at 23 percent. Vietnam’s ability to effectively control and constrainCOVID-19 has allowed it to buck the sector-wide trend of declining brand value.Internal reforms have strengthened accountability of the Vietnamese financialsector, which has had the knock-on effect of boosting not just revenues, butbrand reputation and trust.
Vietnam’s banking sector has also recorded a 753 percent5-year cumulative brand value growth, the second fastest national growth in theranking, noted Brand Finance./.
VNA
