Techcombank - Vietnam's most valuable private bank continues to rise in global rankings

As the only private bank in the Top 5 most valuable Vietnamese banking brands, Techcombank is currently the 7th brand in the Top 100, alongside leading enterprises such as Viettel, FPT, etc. Techcombank's Brand Strength Index (BSI) increased to 82.6 out of 100, while maintaining its AAA- rating. On October 11, 2024 in Hanoi, the world's leading brand valuation consultancy (Brand Finance) has just announced a report on the 100 most valuable and powerful brands in Vietnam in 2024. Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ) became the only private bank to maintain its position in the Top 5 most valuable banking brands in Vietnam, with a brand value of 1.5 billion USD, up 5% compared to 2023. At the same time, Techcombank continued to impressively rise to 160th place in the Top 200 most valuable banks globally.

Techcombank's ranking has increased by 110 places in 5 years on the global banking rankings.

According to Brand Finance, Techcombank has achieved the fastest brand growth rate in the past 5 years with an increase of 38.1%, far surpassing other leading banks such as Vietcombank, BIDV, and Vietinbank. Techcombank is also proud to be a Vietnamese private bank in the Top 20 ASEAN banks in the Global 500 Bank Ranking. With the vision of "Transforming the financial industry, enhancing the value of life" and the mission of leading the digitalization journey of Vietnam's financial industry, Techcombank is always strongly committed to cooperating and accompanying domestic and foreign enterprises. In the 2021-2025 strategic period, based on the strength of the three pillars of Digitalization, Data and Talent, Techcombank has "joined hands" with many of the world's leading partners such as Amazon, Backbase, Salesforce, Adobe, Kyriba SEA Pte, PwC, ... These world-class partnerships have helped Techcombank accelerate the digital transformation process, helping Techcombank to be about three years ahead of other banks in Vietnam and establishing Techcombank's position in the group of leading banks in the region. Pioneering in the journey of digital transformation and applying technology to improve business efficiency, Techcombank has become the first and only private bank in 2024 to be honored as "Best Bank in Vietnam 2024" by 3 leading financial magazines in the world, including Global Finance, Finance Asia and Euromoney. Techcombank is also proud to receive two major awards for innovation in the fields of branding and marketing from the Stevie Awards Asia-Pacific region in 2024. At the Top 100 Most Valuable Brands in Vietnam 2024 Awards Ceremony, Ms. Nguyen Thi Loc, CEO of Techcombank Southern Region shared: “We are proud that Techcombank continues to maintain its position as the most valuable private banking brand in Vietnam. This is both a testament to the sustainable trust that customers have in our service quality and brand, and also a commitment of Techcombank on the journey of accompanying customers to continue to bring outstanding experiences.”

Ms. Nguyen Thi Loc - CEO of Techcombank South received the award.

With its brand value continuously improving, 2024 continues to be a year of momentum for Techcombank to rise in the Top 200 Global Banking Brands rankings. Thus, from 2020 to now, Techcombank's ranking has increased by 110 places, becoming the leading bank in the private banking sector in Vietnam, appearing in the Top 200 most valuable banks globally in 2024 at position 160. Techcombank's brand value (in USD) has increased by 264% since 2020, from 401 million USD to 1.5 billion USD after only 5 years. This shows that Techcombank's growth has far exceeded the average growth of the Top 500 World Banks and banks in ASEAN (145%) - according to a report by Brand Finance. Sharing about the Brand Finance rankings, Ms. Thai Minh Diem Tu - Director of Marketing, Techcombank commented: “Techcombank's brand value reaching the milestone of 1.5 billion USD and achieving an impressive growth rate of up to 264% in the past 5 years is a testament to the bank's strong transformation over the past 31 years of implementing the "customer-centric" strategy and aiming for sustainable values ​​for the community". Recently, Techcombank for the first time combined with AI to create a new playground for the community - where each individual can freely create their own songs with the dream of "moving towards a better version of you". The playground attracted more than 30,000 participants with more than 11,000 songs spread on social networking platforms. Through this campaign, “Techcombank wishes to continue to extend our connection with customers to together conquer the goals of "Being better every day" - Ms. Thai Minh Diem Tu shared more.

Brand Finance is the world's leading brand valuation company, established in 1996, headquartered in London, UK. Every year, Brand Finance evaluates more than 70,000 brands worldwide and this is the 9th year that Vietnam has been included in the list of countries with brand valuations by Brand Finance, with Brand Finance Asia-Pacific (headquartered in Singapore) responsible for publishing the list. Brand Finance has used a brand valuation method that meets the standards of ISO 10668 - the first international standard for brand valuation. The indicators that make up the brand value of a business include: Brand Strength Index (BSI), industry brand copyright ratio and business forecast revenue. In which, the brand strength index is considered the most important, including many attributes that promote the brand's influence on customers, supporting businesses in building brand value.

Source: https://tapchicongthuong.vn/techcombank-ngan-hang-tu-nhan-gia-tri-nhat-viet-nam-tiep-tuc-thang-hang-toan-cau-128090.htm