Forbes Vietnam has unveiled a list of the top 25 valuable financial brands in Vietnam, which are worth a combined 3.95 billion, among which, Vietnam Maritime Commercial Joint Stock Bank (MSB) contributes the value of 53.2 million USD.
The banking industry dominates the list with 17 representatives, followed by the securities and insurance industries with five and three. The list based on companies’ financial indicators and the ability to generate profits.
Financial brands showed strong growth in fiscal year 2020, driven by the banking and securities sectors.
Related: It’s official: MSB allowed to raise its charter capital
In recent years, MSB has been highly valued by the market, including foreign financial institutions, for its profitability from business activities and strong digital transformation that enables it to maximize its internal strengths.
Even during the peak of the COVID-19 pandemic, the bank has ensured smooth operation of its system to effectively serve business activities.
Its digital applications and automation of products and services helped promote non-cash payments and enhanced the convenience of its online transaction channels.
For maintaining a solid business foundation and a high growth rate, having good asset quality and being ranked in the group of banks with the best performance many years, MSB was also named one of the Top 10 Most reliable commercial banks in Vietnam in 2021.
Founded since 1991, MSB is the first commercial bank established during the period of Vietnam’s economic reform and rapid development. Over 30 years of development, thanks to the collective strength and pioneering spirit of our founding shareholders, MSB has constantly set new ground-breaking milestones in the finance and banking sphere.
“It is the pioneering spirit being cultivated and passed down from one generation to another that will continue to be the lodestar for the bank to follow and keep on innovating”, the bank’s CEO said.
MSB has adopted the Basel II international risk management model since 2019. This confirms the bank’s safe, efficient and transparent operations based on international risk management principles and helps raise the position and competitiveness of MSB in the market.
These strengths have always been the sustainable foundations that helped the bank grow steadily in the past 30 years.
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Source: Vietnam Insider