Vietnam Report announces Top 10 prestigious banks
|Customers conduct banking transactions at a branch of Vietcombank, which tops the list of the 10 most prestigious commercial banks in Vietnam in 2022. (Photo baochinhphu.vn)|
The 10 banks honoured as the most prestigious commercial banks in the country are Vietcombank, VietinBank, Techcombank, Military Bank, VPBank, ACB, BIDV, TPBank, VIB and AgriBank.
Meanwhile, the list of the 10 most prestigious private joint-stock banks comprises Techcombank, VPBank, ACB, TPBank, VIB, HDBank, Sacombank, SHB, OCB and MSB.
The banks have been ranked based on three criteria: financial capacity shown on the latest financial statement, credibility in the media evaluated by the Media Coding method, and stakeholder opinions collected in a survey in June.
The survey also showed that 48% of bank customers think the banking industry has been playing a leading role in the country's economic recovery, 77% think banks have been maintaining decent customer service, and 58.9% think banks have managed to adapt their products to the pandemic.
Regarding the banking outlook, 63.6% of financial experts expect an industry-wide growth rate higher than last year, whereas 9.1% are cautious about the future. These figures reflect a substantial shift in expert sentiment since the pandemic, as nearly 77% were concerned about the banking downturn in 2020.
The optimistic experts also forecast that credit growth would top 14% in 2022, with retail credit remaining the driving force behind the growth. Likewise, deposits are expected to soar thanks to high-interest rates.
Regarding financial indicators, 54% of banks project cost-to-Income ratios lower than last year. Amid post-pandemic mounting non-performing loans, 45.5% of banks plan to raise Provision for Risk, 36.4% keep the indicator unchanged, and the rest reduce the hand.
Additionally, 54.6% of banks underscore raising chartered capital as one of their major targets for 2022. It is also worth noting that over 90% will undertake digital transformation across the board, while the rest will embrace it partly.
Regarding credibility in the media, a bank is recognised as "safe" when its positive-information-to-total-encoded-information ratio is at least 10 % higher than the ratio of negative information and recognised as "best" when the difference surpasses 20%.
The survey showed that 100% of banks had reached the "safe" level and 60.5% the "best" level, indicating that banks have been putting a lot of effort into media management.