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Building and sustainably developing the brand of Vietnamese commercial banks in the integration period - 1


MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY UNIVERSITY OF ECONOMICS

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TRAN NGOC DONG

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BUILDING AND SUSTAINABLE BRAND DEVELOPMENT

Building and sustainably developing the brand of Vietnamese commercial banks in the integration period - 1

VIETNAMESE COMMERCIAL BANKS IN THE INTEGRATION PERIOD


MASTER'S THESIS IN ECONOMICS


Ho Chi Minh City – 2007


INDEX

Commitment Table of Contents

List of abbreviations used in the thesis List of tables and charts

INTRODUCTION

CHAPTER 1 : GENERAL THEORY OF BRANDING

1.1. Brand Overview 01

1.1.1. Brand concept 01

1.1.2. The role of brand 01

1.1.3. Brand value 03

1.2. Brands in the financial and banking sector 04

1.2.1. Overview of bank brand 04

1.2.2. Factors affecting the process of building a

Bank Brand 07

1.2.3. The value of sustainable brands 09

1.3. Experience in building and promoting brands of some

Foreign banks – orientation for Vietnam 13

1.3.1. Experience of HSBC Bank 13

1.3.2. Experience of Standard Chartered Bank 16

1.3.3. Brand building orientation for Vietnam's commercial banking system 18

Chapter 1 Conclusion 19

CHAPTER 2 : CONSTRUCTION AND DEVELOPMENT STATUS

BRANDS OF VIETNAMESE COMMERCIAL BANKS TODAY

2.1. Overview of Vietnam's commercial banking system 20

2.1.1. Achievements of the banking industry in 20 years of innovation 20

2.1.2. Some shortcomings of the Vietnamese commercial banking system in recent times 23

2.1.3. Opportunities, challenges and objective necessity of building and sustainably developing the brand of Vietnam's commercial banking system

in the new phase 24

2.2. Current status of brand building and development

Current Vietnamese Commercial Banks 28

2.2.1. Current status of brand building at Vietnamese commercial banks 29

2.2.2. Brand development at Vietnamese commercial banks 33

2.3. Some difficulties and problems in building and developing brands

at Vietnamese commercial banks 43

2.3.1. Some difficulties and problems 43

2.3.2. Reason for existence 44

Chapter 2 Conclusion 45

CHAPTER 3 : SOLUTIONS TO BUILD AND SUSTAINABLE DEVELOPMENT OF BRANDS OF VIETNAMESE COMMERCIAL BANKS IN THE INTEGRATION PERIOD

3.1. Group of solutions for building and promoting brands 46

3.1.1. Building brand image 46

3.1.2. Brand promotion 47

3.1.3. Improving financial capacity and scale of banks 51

3.1.4. Building and promoting brands through websites 53

3.2. Group of solutions for sustainable brand development 58

3.2.1. Human resource development 58

3.2.2. Diversification of banking products and services 61

3.2.3. Improve the quality of banking products and services 64

3.2.4. Development of retail banking services 65

3.2.5. Strengthen customer care 68

3.2.6. Implementing a customer loyalty program 70

3.3. Recommendations to the management agency 72

Chapter 3 Conclusion 73

CONCLUDE

REFERENCES APPENDIX


LIST OF TABLES AND CHARTS


Chart 2.1 : Number of operating banks classified by ownership form

Table 2.2 : Some main indicators of banking monetary activities

Table 2.3 : ATM card development situation in Ho Chi Minh City in 2006 Chart 2.4 : Credit market share by type of credit institution in Ho Chi Minh City in 2006 Chart 2.5 : Development of outstanding loans by term in Ho Chi Minh City in 2005 - 2006 Chart 2.6 : Credit development by currency in Ho Chi Minh City in 2005 - 2006

Chart 2.7 : Development of mobilized capital by currency type in Ho Chi Minh City Chart 2.8 : Development of capital by deposit nature in Ho Chi Minh City Chart 2.9 : Market share of capital by type of credit institution in Ho Chi Minh City in 2006


LIST OF ABBREVIATIONS USED IN THE THESIS


01. ACB Asia Commercial Joint Stock Bank

02. Agribank (VBARD) Vietnam Bank for Agriculture and Rural Development

03. ANZ Australia and New Zealand Banking Group

04. ATM Automated Teller Machine

05. BIDV Bank for Investment and Development of Vietnam

06. EAB Dong A Commercial Joint Stock Bank

07. Incombank (ICB) Vietnam Joint Stock Commercial Bank for Industry and Trade

08. HSBC Hongkong and Shanghai Banking Corporation

09. Joint Venture

10. Bank

11. Commercial Bank Commercial Bank

12. No & PTNT Agriculture and Rural Development

13. Sacombank Saigon Thuong Tin Commercial Joint Stock Bank

14. Credit institutions

15. Joint Stock Commercial Bank

16. State-owned enterprises State-owned enterprises

17. VIB International Commercial Joint Stock Bank

18. Vietcombank (VCB) Bank for Foreign Trade of Vietnam

19. VP Bank Joint Stock Commercial Bank for Non-State Enterprises

20. WTO World Trade Organization


INTRODUCTION


Since April 1, 2007, according to the International Economic Integration Agreement, US and other banks will be allowed to establish 100% foreign-owned branches in Vietnam and these branches will enjoy national treatment because Vietnam has joined the WTO. Thus, Vietnamese commercial banks will face more competitive pressure from foreign banks that have been operating for hundreds of years, with strengths in capital, technology, management experience, etc. It is predicted that this will be a period of fierce competition but also an opportunity for domestic commercial banks to take advantage of opportunities to develop both in breadth and depth.

The development of banking business in the context of increasingly fierce competition shows the importance of marketing activities in general and brand building and promotion activities in particular, and this is an indispensable goal in the development strategy of Vietnamese commercial banks in the current period.

In such a fiercely competitive environment, the strong will be the winner. To do so, Vietnamese commercial banks need to implement a series of solutions to improve their competitiveness to survive. One of the important solutions is to build, promote and sustainably develop the bank brand.

As an officer working in the banking industry, I boldly researched and conducted my Master's Thesis in Economics with the topic: "Building and developing


sustainable development of the Vietnamese commercial bank brand in the integration period".

The research purpose of the topic is to reflect the current situation, opportunities, challenges, advantages, limitations, and reasons for the existence of Vietnamese commercial banks in the process of international integration of the banking industry, thereby proposing a number of solutions to build, promote and sustainably develop the brand of Vietnamese commercial banks in domestic and foreign markets.

The content of the thesis is researched using systematic, comparative, objective, historical, specific methods, collecting information as well as analyzing trends in presentation.

The structure of the thesis includes 3 chapters:

- Chapter 1: “General theory of branding”

- Chapter 2: "Current status of brand building and development of Vietnamese commercial banks"

- Chapter 3: "Solutions to build and develop sustainable brands of Vietnamese commercial banks in the integration period"

Due to limitations in time, documents and personal experience, the thesis is inevitably flawed and limited. We look forward to receiving comments from teachers, colleagues and interested people.

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