Vietnam Maritime Commercial Joint Stock Bank (MSB) has been recognized as one of the 37 most valuable brands in Vietnam, according to the latest rankings by Brand Finance, the world’s leading brand valuation consultancy. The announcement highlights MSB’s impressive growth and resilience in a challenging market environment.
Brand Finance’s 2024 report revealed that despite market volatility and weakened domestic demand, Vietnam’s banking sector continues to thrive. Of the 20 banks listed in the Top 100 Most Valuable Brands, 17 recorded notable growth. Collectively, the total brand value of these 20 banks increased by 10% compared to 2023, reaching an impressive USD 13.8 billion.
Commenting on this achievement, Mr. Duong Ngoc Dung, Chief of Marketing and Communications of MSB, said, “Being ranked by Brand Finance is a testament to MSB’s ongoing efforts to enhance both our brand value and customer trust. We are committed to building on this momentum, and our brand will continue to achieve even greater milestones in the future.”
MSB has been evaluated by Brand Finance twice, in 2023 and 2024, and its brand value has been recognized in multiple prestigious rankings, including the strongest and most valuable banking brands, the biggest ASEAN brands, and the top brands in Vietnam.
These accolades not only affirm MSB’s leading position in the Vietnamese banking sector but also underscore its potential for further growth and competitiveness in both domestic and international markets.
In terms of financial performance, MSB continues to deliver solid results. The bank’s audited financial report for the first half of 2024 shows a pre-tax profit of nearly VND 3,690 billion, marking a 4% increase year-on-year. As of the end of the second quarter, MSB’s total assets reached VND 295,537 billion, up 11% from the beginning of the year. Additionally, MSB recently completed a capital increase plan by issuing shares to pay dividends at a rate of 30%, bringing its charter capital to VND 26,000 billion.
MSB is a leading commercial bank in Vietnam, committed to providing innovative financial solutions and enhancing customer experiences. With strong growth across key financial indicators, MSB is well-positioned to continue driving value and expanding its market presence in the years ahead.
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Source: Vietnam Insider