Representatives of commercial banks receive the awards of most reputation banks in Viet Nam in Ha Noi on July 27. — Photo nhandan.com.vn

HA NOI (Biz Hub) — The Vietnam Report announced the names of the 20 most reputation banks and insurance firms in Viet Nam on July 27.

Thus, 10 banks and 10 insurance firms were selected and ranked, based on Vietnam Report's independent research, with the three criteria being financial capacity shown in the audited statements, media credibility evaluated by media coding and client satisfaction.

The rankings were also based on the growth of capital, revenue and profits as well as the development plans of the banks and insurance firms in 2016.

Of the top banks, three -- Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Bank of Investment and Development of Vietnam (BIDV), Bank for Foreign trade of Vietnam (Vietcombank) --have more than 50 per cent of capital in the form of state capital. The rest are private banks: Asia Commercial Bank (ACB); Vietnam Technological and Commercial Bank (Techcombank); Military Commercial Joint Stock Bank (MB); and Saigon Commercial Joint Stock Bank (Sacombank); besides Tien Phong Commercial Joint Stock Bank (Tien Phong Bank); Saigon- Ha Noi Commercial Joint Stock Bank (SHB); and Saigon Commercial Bank (SCB).

VNR said in addition to possessing a large amount of capital and history, banks with intensive investment in diversified products, customer service and technology base were also gaining the market.

Meanwhile, the clients of insurance firms often choose those with strong financial capacity, high turnover and consistent growth.

VNR chose ten non-life insurance firms: Bao Viet Insurance Corporation; PVI Insurance Corporation; Post Insurance JSC; and Petrolimex Insurance JSC; besides BIDV Insurance JSC; Bao Minh Insurance JSC; Military Insurance JSC; and Agriculture Bank Insurance JSC; as well as Bao Long Insurance JSC; and VietinBank Insurance JSC.— VNS