Hanoi (VNA) – Vietnam’s Commercial Joint Stock Bank for Foreign Trade (Vietcombank) is once again at the top of 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 Vietnamese Commercial Joint Stock Bank for Industry and Commerce (Vietinbank) and the Vietnamese Technological and Commercial Equity Bank (Techcombank) in second and third places, respectively.
The list also includes Military Commercial Joint Stock Bank (MBBank), Asia Commercial Joint Stock Bank (ACB), Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Joint Stock Commercial Bank for Vietnam Investment and Development ( BIDV), Tien Phong Commercial Joint Stock Bank (TPBank), Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and Vietnamese Bank for Agriculture and Rural Development (Agribank).
The ranking was based on the financial capacity of banks, media reputation and customer perception and satisfaction.
Data from the General Statistical Office shows that Vietnam’s credit growth reached 5.47 percent in the first half of 2021, doubling last year’s figure in the same period. Despite the impacts caused by COVID-19, the banking sector experienced strong profit growth during the period, with bad debts well under control.
Vietnam report director Vu Dang Vinh said the company’s survey of experts and banks indicates that the top three macroeconomic factors influencing the performance of the banking sector in 2021 are likely the epidemic. widespread COVID-19, macroeconomic recovery, and relevant state policies and regulations.
Meanwhile, the three micro-economic factors that may have the greatest impact on the industry include financial technologies, risk management and internal control system, quality of services and products.
Some 52.94 percent of surveyed experts and banks said the banking sector will experience better growth and performance this year. It is believed that credit growth this year will likely equal or exceed that of 2020./.