VietinBank entered the top 200 most valuable banking brands in the world for the third consecutive time

According to the latest announcement by Brand Finance Consulting Company in the Report on ranking the world's top 500 most valuable banking brands in 2024 (Banking 500 - 2024), VietinBank continues to be in the top 200 most valuable banking brands in the world. VietinBank is also the banking brand with the highest value growth among the 4 largest banks in Vietnam (Big 4) on the list at position 157, up 14 places compared to 2023.

VietinBank entered the top 200 most valuable banking brands in the world for the third consecutive time.

Up to now, with 12 appearances in the Brand Finance Reputation Ranking Report and the Brand Value continuously growing, the brand ranking is constantly improving, Vietnam Joint Stock Commercial Bank for Industry and Trade has demonstrated the strong position of the VietinBank brand, the ability to develop stably, sustainably and effectively in its operations. In the context of the domestic and international economy still facing many challenges and complicated developments, VietinBank has been quick, proactive, innovative, creative and strong to overcome difficulties and contribute effectively to the stability and socio-economic development of the country. Accordingly, the business results of VietinBank in 2023 were extremely positive, when all targets were achieved and exceeded on the basis of strongly improving business performance, reducing capital mobilization costs, strictly managing operating costs and increasing non-interest income sources. VietinBank's total assets by the end of 2023 exceeded VND2 million billion for the first time; Customer deposits and outstanding loans both grew at double-digit rates compared to 2022, with growth rates among the highest in the banking industry. Pre-tax profit in 2023 achieved the target assigned by the General Meeting of Shareholders. The bad debt ratio at the end of 2023 was 1.13%, lower than the industry-wide bad debt ratio. Along with that, VietinBank focuses on promoting the transformation of income structure through comprehensive, all-inclusive financial solutions, promoting digital transformation, enhancing the development of technology applications to improve product and service quality, improve customer experience and increase convenience... These are important resources and premises for VietinBank to continue to promote its role as a key bank, a pillar in meeting the capital and financial service needs of the economy, making an increasingly greater contribution to the State budget and the country's socio-economic development in the coming time. Along with impressive business results, VietinBank has also continuously received recognition in many fields of operation from prestigious organizations such as: 12 consecutive times in the top 2000 largest enterprises in the world (Forbes Global 2000), winning the title of Vietnam National Brand for the 7th consecutive time, top 10 sustainable enterprises of Vietnam (CSI 100) in 2022 - trade and service sector, top 10 enterprises meeting Vietnamese business culture standards in 2021, top 10 Sao Khue for two consecutive years in 2020, 2021 for VietinBank iPay application, best retail bank in Vietnam, bank providing the best Foreign Exchange Service in Vietnam for many consecutive years, best mobile banking technology application in the Asia-Pacific region... Creating momentum for the next steps of development in the future, VietinBank has built and is strongly implementing the Development Strategy phase period 2021-2030 and vision to 2045, Medium-term Business Strategy 2023-2025, synchronizing VietinBank's development strategy with the development strategy of the country and the banking industry. Accordingly, the above strategies will support branding activities, especially efforts to build brand image, enhance brand strength and resilience, promote creativity and ensure brand consistency, thereby affirming the position of the VietinBank brand in the international arena and joining the community of strong brands in the region.

Brand Finance is the world's leading brand valuation firm headquartered in the UK. Brand Finance's brand valuation results are used and officially announced on leading media channels such as: The Banker, BBC, CNN, CNBC, Bloomberg, The Economist, The Wallstreet Journal... Brand Finance is also one of the few businesses in the world to be recognized by ISO 10668 - the global standard for brand valuation.

BAO TRUNG

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