Vietnam pushes banks to build global brands

Vietnam’s central bank is urging domestic banks to adopt long-term brand strategies to enhance global competitiveness, with a goal of placing up to three commercial banks among Asia’s top 100 by brand value by 2030. Deputy Governor Phạm Thanh Ha said the sector is advancing in digital transformation and governance reforms, aiming to position Vietnamese banks as strong regional players. Currently, 13 Vietnamese banks are listed among the world’s top 500 by brand value, according to Brand Finance. The State Bank of Vietnam is also promoting international best practices and greater transparency. Experts at a recent forum in Hanoi noted the importance of mergers, foreign investment, and technology upgrades to scale operations. Analysts expect continued consolidation as banks seek efficiency and global reach.