New data from Brand Finance reveals banking, real estate, and technology brands lead in 2025
Ho Chi Minh City, 9 September 2025 –The total brand value of Vietnam’s top 100 brands in 2025 stands at USD38.4 billion, marking a 14% decline from the previous year, according to Brand Finance’s Vietnam 100 2025 report. This decline mirrors a broader economic slowdown, with Vietnam’s GDP growth projected at 7% for 2025. Despite this, certain sectors have demonstrated resilience, including automobiles (up 49%), real estate (up 27%), logistics (up 25%), airlines (up 15%), and technology (up 10%), all of which have shown significant growth.
The Vietnam 100 2025 report offers a detailed analysis of sectors such as banking, real estate, and technology, showcasing top brands and their notable achievements. The sector analysis highlights impressive digital adoption, especially in banking where 87% of brands, including Vietcombank and MB, are embracing digital transformation. The real estate sector grew by 27%, driven by brands like Vinhomes, while the technology sector grew by 10%, illustrating industry resilience amid broader economic challenges.
Viettel Group, holding the fort as Vietnam's most valuable brand, continues to strengthen its market position through ongoing 5G network expansions, which is set to cover 99% of the national population by 2030, and a strategic partnership with Visa to boost digital payments. Alongside Viettel Group, Vinamilk (down 2% to USD2.6 billion) and Vietcombank (up 16% to USD2.4 billion) are ranked second and third most valuable Vietnamese brands of the year, respectively.
MB stands out as the fastest-growing brand this year with an 87% increase in brand value, reaching USD1.6 billion. The bank’s digital-first strategy and expansion into SME and corporate banking have driven this impressive growth.
Vinpearl (brand value USD204 million) claims the top spot as Vietnam’s strongest brand, boasting a Brand Strength Index (BSI) score of 97.5/100 and an AAA+ brand strength rating. The brand’s robust strength and value are a clear reflection of its deep consumer trust, reputation, and dominant market presence.
Following Vinpearl, Vietcombank and Bao Viet (USD 603 million) are ranked second and third for brand strength, with BSI scores of 95.3/100 and 92.8/100, respectively.
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
“Vietnamese brands are proving resilient despite a decline in overall brand value. Viettel’s 5G expansion, MB’s digital-first growth, and Vinpearl’s record strength illustrate this adaptability, while Techcombank’s rise as the third most valuable banking brand reflects strong market trust and demand for premium financial services."
Vietnam has made significant strides in sustainability, with new regulations such as the 2024 ESG Implementation and Disclosure Handbook, and requirements for over 2,000 high-emission facilities to report their greenhouse gas inventories annually. These initiatives align with the country’s goal of achieving net-zero emissions by 2050. Viettel Group leads the Vietnamese brands in the ranking for Sustainability Perceptions Value (SPV) with an SPV of USD400 million, reflecting its commitment to green technologies and community development. VietinBank also stands out with the highest positive gap value of USD9 million, highlighting an opportunity for further growth in sustainability reputation.
Other notable brands mentioned in the Vietnam 100 2025 include:
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
