Decision Lab has announced the results of its Best Bank Rankings 2024, based on over 18,000 interviews with Vietnamese consumers. Rankings are based on an Index, which is derived from the average scores of factors such as Impression, Quality, Value, Satisfaction, Recommendation, and Reputation. The Best Bank Rankings aim to identify and recognize banks with the strongest and most improved brand health over the past year.

Vietcombank maintained its lead, with MB and BIDV following in second and third place. In terms of brand health improvements, MB led with an impressive level of growth. The bank has consistently demonstrated significant improvements over the years and is among brands that enhanced their health index by the most in 2023. Following were Vietcombank, BIDV, and VietinBank.

“This year’s results affirm the crucial role of brand health, a comprehensive indicator reflecting consumer trust and satisfaction,” said Mr. Thue Quist Thomasen, CEO of Decision Lab.

Amid market fluctuations, he went on, consumers tend to turn to reputable banks that have been proven over the years. This enables the banks to stand firm no matter how challenging the market may be. This underscores the importance of brand health - a priceless asset for businesses.

As for foreign banks in Vietnam, HSBC topped rankings for the second consecutive year. It was also ranked among the top 10 most satisfying banks in Vietnam in 2023. Following in the rankings were Shinhan Bank and Standard Chartered Bank. Overall, the rankings demonstrate stability in the group of foreign banks in Vietnam.