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Vietcombank named “The Best Bank in VN 2019” by Euromoney

VGP - Vietcombank has been named the best bank in Viet Nam in 2019 by Euromoney.

July 23, 2019 5:34 PM GMT+7

 Vietcombank named “The Best Bank in VN 2019” by Euromoney
According to Euromoney, Vietcombank earned the “The Best Bank in Viet Nam 2019” award as a result of the bank’s outstanding performance across all consideration criteria: sustainable development, business performance, risk management, information technology, management quality, and contribution to the local financial and banking market. Other criteria include total revenues, total assets, profit before tax, and net income.

Euromoney’s “Awards for Excellence” are among the world’s most highly acclaimed honors in recognition of superior banking performance in the industry. There are more than 20 categories for international awards, and the “Best Bank” awards are presented to leading banks in nearly 100 countries.

The awards celebrate institutions and individuals for their leadership and commitment to outstanding development in their respective markets. Euromoney considers both qualitative and quantitative factors in bestowing the awards to ensure fairness and to enable the banks to showcase their strengths.

Recently, Vietcombank has become one of the 30 strongest banks in the Asia-Pacific region in the recent rankings of The Asian Banker magazine.

Its total asset was estimated at over VND 1 quadrillion (US$43.1 billion) by the end of 2018. Its profit last year approximated 18.4 trillion VND, up 63.5% from 2017, taking the lead among Vietnamese banks.

In Viet Nam, Vietcombank is given credit for its efficient business strategy and management model with a view of offering its customers services that meet international standards.

The lender is also recognised for its effective adaptation to new developments in the market and responding to customers’ needs.

With this award, Vietcombank continues to affirm its position as one of the best-performing banks in the domestic market, and its goal of becoming one of the top 100 financial institutions in the region and to reach the global top 300 by 2020.

 By Vien Nhu