HCMC – The Bank for Foreign Trade of Vietnam (Vietcombank), which has its VCB shares listed on the Hochiminh Stock Exchange, has been named Vietnam’s most valuable brand, with a valuation of US$891.4 million, according to Forbes Vietnam’s 2024 rankings of the top 25 listed brands.
The banking sector took seven of the 25 brands, representing 28% of the total. Forbes Vietnam attributed the strong presence of state-run banks to their scale, legacy, and extensive reach.
Vietcombank ranked first in both the financial sector and overall. Forbes Vietnam said the ranking reflects the resilience of Vietnam’s banking industry despite recent economic challenges.
Forbes Vietnam’s valuation was based on profits generated from tangible and intangible assets. Brand contributions to profitability were a key factor in determining rankings.
The 25 listed entities have a combined brand value of nearly US$5.2 billion and recorded a total pre-tax profit of US$7.3 billion in 2023.
Vietcombank has also been recognized by Brand Finance, which valued its brand at US$2.04 billion in 2024, a 7% increase from the previous year. It ranked fourth among Vietnam’s top 100 brands and has held the top position in the banking sector for two consecutive years.
Founded more than 60 years ago, Vietcombank reported total assets of VND1.8 quadrillion and pre-tax profits exceeding US$1.5 billion by the end of 2023.
Closing the trading session today, December 30, VCB inched down by 0.22% to VND92,000, with a trading volume of over 1.7 million shares.
As losers outnumbered winners by 298 to 122, the VN-Index edged down 3.12 points, or 0.24%, to 1,270.02 on Monday, holding above a key support level despite broad market weakness.
Trading volume fell by 7.5% to 670.3 million shares, while value dropped 31.2% to VND16.86 trillion against last Friday. Block deals accounted for 74.7 million shares valued at VND1.59 trillion.
HDB stole the limelight as it jumped to its daily ceiling price of VND26,650, with nearly 10.6 million shares changing hands. Gains in HDB contributed to a 0.5 positive point to the VN30-Index, which tracks the 30 largest-cap stocks.
Bank stocks saw mixed results. HDB, STB, and LPB rose, while BID dropped by 2.3%, erasing most of HDB’s impact. BID’s decline shaved 1.2 points off the VN-Index.
Securities brokerage shares fell, except for HCM and VDS, which posted modest gains. VIX and SSI led trading volume in the sector, each with over 11 million shares traded.
Real estate stocks declined overall, though DXG and PDR closed higher, with high trading volumes at 24.5 million and 13.8 million shares, respectively. DXG was the most actively traded stock on the market.
The Hanoi Stock Exchange saw limited activity, with the HNX-Index dropping 0.99 point, or 0.43%, to 228.14 points, with a matching volume of 34.86 million shares worth VND560.8 billion. The northern market saw 53 stocks advancing and 101 others declining.
