BIDV makes Top 25 financial brands

anH tran

On 20 September 2021, Forbes Vietnam announced the list of Top 25 Financial Brands 2021. BIDV was among the Top 5 with brand value of USD320 million.

For the first time Forbes Vietnam has summed up the figures and calculated the brand value of Vietnamese financial enterprises in the fields of banking, securities and insurance. Using a calculation model from Forbes (USA), Forbes Vietnam quantified the value of a brand through financial data based on its ability to generate profits. According to general principles, intangible assets and tangible assets both contribute to the level of profits. Thus, brand value is also added to the profits gained.

The total brand value of the Top 25 Financial Brands reached USD3.95 billion. Banks accounted for the largest proportion with 17 brands making the list, followed by securities with 5 brands and insurance with 3 brands.

The 5 brands in securities, a fast growing industry, were the most stable and effective companies, outperforming the rest of the industry. The top insurance brands included Bao Viet Corporation (valued USD72 million), PVI JSC (USD28 million), and BIDV Insurance Corporation – BIC (USD10 million). BIC is currently one of the 8 leading non-life insurance companies in terms of direct insurance premiums, and Top 3 non-life insurance companies with the highest rate of return in the Vietnamese market. In February this year, Brand Finance - the world's leading independent brand valuation consultancy – included BIDV in the list of Brand Finance Banking 500 - the world’s most valuable and strongest banking brands. BIDV jumped 30 spots to rank 246th in the Brand Finance Banking 500. In the Vietnamese market, BIDV maintained its position among the top five most valuable banking brands.

BIDV has also featured on Forbes Global 2000 list – the world’s 2000 largest public companies for the seventh consecutive year. The ranking was based on an analysis of four metrics: sales, profits, assets and market value.

BIDV continues to be the largest commercial bank in Vietnam. As of 30 June 2021, BIDV’s total consolidated assets hit over USD71.4 billion. In the first half of the year, BIDV also received positive recognition from prestigious international and domestic organizations with awards and accolades such as: Best Retail Bank in Vietnam (The Asian Banker); Best SME Bank in Vietnam (The Asian Banking & Finance); wholesale Bank of the Year (Global Banking & Finance Review); among others.

The headquarters of BIDV, Hanoi