The Vietnam Report honours top 10 most prestigious banks in 2020

19-Sep-2020 Intellasia | Tri Thuc Tre | 6:02 AM Print This Post

On September 15, 2020, Vietnam Report, in collaboration with Vietnamnet newspaper, officially announced the Top 10 prestigious companies in critical industries, including the banking industry.

Accordingly, since Q2/2020, Vietnam Report had officially announced the ranking of Top 10 prestigious companies in Real Estate; Construction; Building Materials; Banking; Insurance; Technology and Listing. This result was based on independent research and evaluation of the Vietnam Report, published on the mass media.

Enterprises honored in the Top 10 prestigious companies in industries in 2020 were all business representatives with effective operations in the industry, making positive contributions to the overall development of the economy. Also, the brands had to be trusted by many people in the Vietnamese market in recent years.

After the quiet year of 2019, in the first six months of 2020, the global economy had entered a severe crisis due to the widespread impact of the COVID-19 pandemic. In Vietnam, the epidemic also stagnated and disrupted many production and business activities and social activities.

For the banking sector, the three most apparent effects of the disease in the past time could be mentioned as profit decrease, forecasting bad debt increases, and the declining income of workers in the industry. However, the banking industry had soon launched many proactive solutions such as promoting digital banking services, non-cash payments, developing other consumer services associated with e-commerce, besides supporting people and businesses affected by the pandemic through interest and fee reduction programmes with existing loans, as well as debt restructuring and debt deferral for customers.

The top 10 banks had been named this year including Vietcombank, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Vietnam Technological and Commercial Joint-Stock Bank (Techcombank), Military Commercial Joint Stock Bank (MB MBBank), Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Vietnam Bank for Agriculture and Rural Development (Agribank), Asia Commercial Joint Stock Bank (ACB), HCM City Development Joint Stock Commercial Bank (HDBank), and Tien Phong Commercial Joint Stock Bank (TPBank).


Category: Finance, Vietnam

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