VPBank climbed 38 spots to 205th in the 2022 Finance Banking Brand 500, a report featuring the most valuable banking brands in the world.

According to the report, VPBank’s brand value rose US$871 million, up 73 per cent against 2021.

The bank also scored a Brand Strength Index (BSI) of 73.6 out of 100 and was assigned a corresponding brand rating of AA on the scale from D to AAA+.

A representative of VPBank said the improvement in ranking position was an impressive achievement amid the pandemic.

"Such an achievement indicates that the bank has a solid foundation for sustainable growth and has successfully gained the trust of its investors, partners and clients."

“The bank’s efforts to improve its business model, invest further in technology, product and service quality, and to pursue the ultimate goal of a prosperous Viet Nam have paid off, added the representative.

In late 2021, VPBank had VND548 trillion (US$24 billion) in total assets and VND86 trillion in total equity.

It earned VND14.58 trillion in pre-tax profit and had a total credit of more than VND348 trillion.

Since the outbreak of the pandemic, the bank has always been among the top three banks to help firms and individuals the most.

Notably, it cut interest payments for around 275,000 clients last year with a total cut of VND605 billion.

It also set aside over VND500 billion to support the Government's efforts in the fight against COVID-19.

Besides the improved position in the Finance Banking Brand 500, VPBank has ranked fourth in the Forbes top 25 leading financial brands in Viet Nam 2021.

It also won many other well-respected awards including House of the Year 2021 and Best Mobile Banking Initiatives 2021. — VNS