On August 8th 2019, Vietnam Report Joint Stock Company (Vietnam Report) held a ceremony to honour the Top 10 prestigious Vietnamese commercial banks.
The Top 10 ranking is independent and objective research results of Vietnam Report. The prestige of banks is ranked based on banking and financial assessment results; media credibility which is measured by Media coding method; and investigation of customers’ perceptions and satisfaction with banks’ products and services, in-depth interview with banking and finance experts, and investigation and survey of banks themselves conducted in May and June 2019.
The method to use communication analysis to assess the credibility of businesses based on Agenda Setting of two professors Maxwell McCombs and Donald L. Shaw on the impact and influence of mass media on the community and society has been realised and applied by Vietnam Report and its partners since 2012. Accordingly, Vietnam Report has used Branch Coding method (assessing company’s image on the media) to conduct analysis on Vietnamese banks’ credibility.
Vietnam Report encoded articles on banks posted on influential newspapers in Vietnam from May 2018 to May 2019. A total of 1,617 articles; 3,597 coding units were assessed at story-level on 24 specific operational aspects of a business from products, business results, market, etc. to activities and reputation of the business’ leader.
The information selected for encoding was based on two basic principles: the name of the business that appeared on the title of the article, or the news about the business mentioned at least in five lines in the article. This is called the threshold of perception when the information is considered as valuable for analysing.
As a result, 10 names were selected, including Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), Commercial Joint Stock Bank for Industry and Trade (VietinBank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV), Military Commercial Joint Stock Bank (MB), Vietnam Prosperity Commercial Joint Stock Bank (VPBank), Asia Commercial Joint Stock Bank (ACB), Tien Phong Commercial Joint Stock Bank (TPBank), Saigon Hanoi Commercial Joint Stock Bank (SHB), and Commercial Joint Stock Bank for Agriculture and Rural Development of Vietnam (Agribank).
Thus, this year’s Top 10 prestigious banks has slightly changed compared to 2018 with the absence of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) which was replaced by TPBank.
Representing one of the Top 10 banks, general director of SHB Nguyen Van Le said that being in the Top 10 has affirmed the bank’s solid and prestigious position with customers, partners, and shareholders, at the same time acknowledged the positive contribution of the bank in the development of the banking and finance industry.
Le added that this year is the fourth consecutive year that SHB is in the Top 10 ranking. The bank aims to reach the Top 3 largest private banks and leading multi-functional retail banks in Vietnam.
“In the goal of retail, the bank has built a comprehensive and effective digital banking transformation roadmap, developing modern financial products and services on a high technology basis, in line with the 4.0 Industrial Revolution. According to this roadmap, in five years, SHB will focus on deploying projects in the fields of Customer Centricity, Big Data, Digital, Process Optimisation, Technology, and IT Operating model,” said Le.
By June 30th 2019, SHB’s charter capital was over 12 trillion dong and this number will increase to 17.570 trillion dong in 2019. The bank’s total assets reached more than 341 trillion dong, and its pre-tax profit in the first six months of the year was 1.560 trillion dong.
Meanwhile, general director of TPBank Nguyen Hung said that in addition to the objective assessment of Vietnam Report, the prestige and influence of TPBank in the banking market is clearly reflected in the growth data of the bank in recent years. TPBank had 1.7 million customers in 2017, 2.3 million in 2018, and the number of customers is forecasted to continue to have impressive increase in 2019 and will be recognised in the bank’s end of the year financial report.
In the banking system of Vietnam, TPBank is considered a young, dynamic and pioneering bank in the application of new technologies, helping customers enjoy new, safe, convenient and modern services.
In the first six months of 2019, TPBank attained a pre-tax profit of 1.620 trillion dong, up by 58 percent over the same period and completed 50.6 percent of the yearly profit plan approved by the general meeting of shareholders.
