Review VietinBank 2019 - Vietnam Joint Stock Commercial Bank for Industry and Trade

VietinBank's medium and long-term goal is to become a large-scale financial group with the best operational efficiency of Vietnam's banking system by 2020

Review VietinBank


Target 2019

In 2019, VietinBank focused its resources on business development in depth, continued business restructuring, selective growth, associated with efficiency. Strongly improve service quality, modern product and service development, increase service revenue and non-interest income, improve income structure. Implementing the restructuring plan for the 2016-2020 period, constantly standardizing all aspects of operation, infrastructure development, information technology modernization and risk management capacity building , management operates according to international standards and practices, affirming its leading position in the market.

Medium and long-term development strategy

VietinBank's medium and long-term goal is to become a large-scale financial group with the best operational efficiency of Vietnam's banking system by 2020. VietinBank has identified strategic focus in the next period. is to continue selective, effective, sustainable business growth, strongly shift customer structure, continue service automation with high utility, drastically improve service quality, boost service non-credit, with special emphasis on payment services for applying modern technology platforms; improve financial capacity, enhance banking performance and subsidiaries, associates; improve labor productivity, cost effective management.

Sustainable development goals

With its position as the leading commercial bank in Vietnam, VietinBank not only pursues the goal of efficient business and profit growth but also aims at attaching the socio-economic development of the country, contributing to together with the Party and the Government, improve the social environment, eliminate hunger and reduce poverty quickly and sustainably. Besides, VietinBank will improve financial capacity, people, technology ... to meet the sustainable development goals of banks as well as the whole society. In 2018, VietinBank strives to continue to be the leading bank to perform its obligations to the community, deploy social security projects and projects, and demonstrate the philosophy of "Enhancing the value of life".

VietinBank is the first Vietnamese bank to enter the Top 300 most valuable Bank Brands in the world

According to the latest announcement of Brand Finance consulting firm about the Top 500 Most Valuable Banking Brand Ranking in the World in 2019 (Banking 500 - The world most valuable banking brands), VietinBank is the first Vietnamese bank into the Top 300 most valuable bank brands in the world. Specifically, VietinBank established position 242, an increase of 68 steps compared to 2018.

In 2019, VietinBank's Brand Rankings and Brand Values ​​increased sharply, continuing to maintain the No. 1 Brand position in Vietnam. Specifically, VietinBank had a spectacular promotion when it increased 68 grades, ranked 242 - the highest ranking among Vietnamese banks and was the first and only Vietnamese bank to enter the Top 300. Regarding promotion, VietinBank continues to be in the Top 20 World Bank with the strongest promotion (ranked 8th).

About Brand Value, VietinBank is also the bank ranked 8th in the Top 20 World Banks with the highest increase in Brand Value and the strongest growth in Brand Value in Vietnam. Accordingly, VietinBank's Brand Value has increased by 64%, jumping from US $ 381 million (2018) to US $ 625 million in the 2019 ranking report.

In addition, VietinBank's Brand Strength Index was evaluated by Brand Finance to increase from 67 to 77.33 on a scale of 100, ranking the Brand up from AA- (2018) to AA +.

Up to now, with 7 contributions in Brand Finance's prestigious Rating Report with Brand Value continuously growing and ranking, VietinBank has proved its brand position and stable development ability. , sustainable, effective.

Strong focus on brand activities

In 2016, when assessing VietinBank, Mr. Samir Dixit - Brand Finance's Asia-Pacific Director said: “The next challenge is to be in the Top 300 is definitely not an easy task, demanding ask VietinBank's strong and drastic focus on strengthening brand strength, besides profit growth ”. In 2018, with great strides to achieve rank 310 in the Top 500 Ranking Report, VietinBank has determined its determination to approach new challenges.

To date, the success of entering the Top 300 in 2019 has shown the right direction in the branding work of VietinBank, especially the efforts to build brand image, strengthen the strength and power of branding. , promote creativity and ensure brand consistency, thereby confirming its position in the international arena and joining the region's strong brands.

VietinBank won the Vietnam National Brand Award for the fifth time in a row

The Announcement Ceremony was held by the National Brand Council and the National Brand Secretariat in coordination with the Department of Trade Promotion - Ministry of Industry and Trade. Vietnam National Brand Program is the only program of the Government of Vietnam to promote national image and national brand through product brand (goods and services).

Attending the Ceremony were: Mr. Trinh Dinh Dung - Member of the Party Central Committee, Deputy Prime Minister of the Socialist Republic of Vietnam; Mr. Tran Tuan Anh - Member of the Party Central Committee, Minister of Industry and Trade, Chairman of the National Brand Council; Mr. Nguyen The Ky - Member of the Party Central Committee, General Director of Voice of Vietnam Radio and representatives of Vietnamese enterprises and media agencies. Representative of VietinBank, Mr. Cat Quang Duong - Member of the Board of Directors attended the Program.

At the Ceremony, VietinBank was one of 97 businesses honored as National Brands. The honoring of National Brands will become the driving force for enterprises to have more opportunities to promote their strengths and continue to innovate, research and create product quality. Thereby, businesses can spread the brand closer to customers, contributing to building images and products and services more and more quality.

Speaking at the Ceremony, Mr. Tran Tuan Anh said: Born in 2003, Vietnam National Brand Program has made a very important change from awareness to the sharing of the business community, Public opinion, understanding of consumers, foreign markets for Vietnamese brand value, product value of Vietnamese enterprises.

Through the Program, many Vietnamese brands have been known and built a great reputation in the domestic market and international market.

To date, VietinBank has become a leading bank in the Vietnam banking system: 7 consecutive years in the Top 2000 World's Largest Enterprises by Forbes ranking; In 2018, VietinBank continued to be in the Top 400 most valuable Bank brands in the world, with strong brand strength and brand value, continuing to maintain its position as the No. 1 bank in Vietnam. Specifically, VietinBank had a spectacular promotion when it increased 98 ranks in just 1 year, ranked 310, the highest ranking among Vietnamese banks and was in the Top 20 banks with the highest increase in Top 500. VietinBank ranked 24th in Brand Finance's ASEAN banks rankings. VietinBank also entered The Banker's Top 1,000 Global Banks; Top leader of Vietnam Strong Brand and many prestigious awards for business activities.

VietinBank ranked 2nd in the Top 10 prestigious Vietnamese Commercial Banks in 2018

The table of Top 10 prestigious commercial banks in Vietnam in 2018 is the independent and objective research results of Vietnam Report. The prestige of banks is assessed based on 3 main criteria:

(1) Financial capacity and efficiency shown in the most recent audited financial statements (total assets, total revenue, after-tax profit, capital use efficiency, bad debt ratio ...)

(2) Media prestige is evaluated by Media Coding method - encoding articles about banks on influential media channels.

Vietnam Report conducts coding of articles written about banks posted on financial specialized channels during the period from June 2017 to May 2018.

(3) Investigating and surveying customers' awareness and satisfaction with bank products / services; survey of financial experts on the position and reputation of banks in the industry and investigation of the situation of banks implemented in May 2018 in terms of capital size, revenue growth rate , profit, operational plan for the year ...

Survey results of banks reported by Vietnam Report show that: In 2018, Banking industry is optimistic with growth prospects. 100% of commercial banks participating in the survey in May expected the banking industry's growth rate to reach over 10%.

VietinBank was ranked 2nd in Vietnam Top 10 reputable commercial banks in 2018. VietinBank continued to grow, maintaining its position as one of the leading commercial banks in terms of total assets, equity and ability. profitability. Specifically, VietinBank's total asset value as of the end of 2017 is VND 1.1 million, up 15.4% compared to 2016 and reaching 101.2% of the 2017 General Meeting of Shareholders plan. VietinBank's profit before tax reached VND 9,206 billion; total mobilized capital increased by 16.2%; credit balance increased by 18% compared to 2016; NPL ratio on total outstanding loans is controlled at 1.13%; ROAA and ROAE ratios are 0.9% and 12.02% respectively.

Earlier on 5/6/2018, Forbes Vietnam announced the list of "50 best listed companies in Vietnam" in 2018. VietinBank was honored by Vietnam Forbes in the top of units in the field of finance and banking. 

VietinBank is at the top of the safest bank in 2018

The representative of Vietnam continues to put his name on the list of the safest banks by Global Finance's country. This is the 5th consecutive time VietinBank has participated in this category.

The safest bank rankings are the basis for ensuring effective risk management policies of financial institutions, in supporting customers and shareholders against the risks arising.

This year Global Finance honored the safest banks in 106 countries worldwide. This result is based on long-term foreign currency ratings from Moody’s, Standard & Poor’s, Fitch and the total assets of the 1,000 largest banks worldwide.

Previously, Moody’s raised Vietnam's national credit rating from B1 to Ba3, with prospects from stable to positive. Moody's also ranked issuers in domestic and foreign currencies of VietinBank to Ba3 with positive prospects, raising long-term partner risk ratings (CRR-counterparty risk ratings) and counterpart risk assessment (CRAs-counterparty risk assessment of this bank.

Fitch Ratings also raises Vietnam's credit rating to BB with a stable outlook. In addition, Fitch also announced to raise the ratings of long-term debt issuers (IDR) and rank VietinBank's ability to support BB- from B + with stable prospects.

Mr. Joseph D. Giarraputo - Director of Publication and Editing of Global Finance magazine rated: “Country rankings have helped provide details about the safest banks in the individual market worldwide. gender. Companies are becoming more global and doing transactions around the world, they need to know which banks provide the most stability and security in each country. "

"Although there is a harmonious push for financial rules, there are still differences that exist in different financial mechanisms, which is a challenge for financial workers. We provide a ranking. This category helps them find the safest banks in all their markets, ”added Joseph D. Giarraputo.



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Review VietinBank 2019 - Vietnam Joint Stock Commercial Bank for Industry and Trade
VietinBank's medium and long-term goal is to become a large-scale financial group with the best operational efficiency of Vietnam's banking system by 2020
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