Brand Finance’s latest data shows Viettel Group remains Vietnam’s most valuable brand and ranks fifth across ASEAN
HANOI, 30 October 2026 – Vietnamese brands are strengthening their position in ASEAN’s brand economy, with Bao Viet named the region’s strongest brand and Vietjet recording the fastest brand value growth among ASEAN airline brands, according to the ASEAN 500 2026 report from Brand Finance, the world’s leading brand valuation consultancy.
Bao Viet (brand value up 22% to USD735 million) achieves a Brand Strength Index (BSI) score of 96/100, up from 92.8/100 in 2025 and retains its AAA+ brand strength rating. Its performance highlights the importance of familiarity, trust and institutional credibility in financial services. As Vietnam’s first insurer, Bao Viet enjoys an established position in the country’s insurance market and has supported major infrastructure projects spanning roads, airports and energy. These associations reinforce their relevance beyond individual insurance products.
Vietjet (brand value up 117% to USD906 million) records the fastest brand value growth among ASEAN airline brands in the 2026 ranking. The airline’s performance comes as carriers across Asia-Pacific benefit from rising passenger demand and expanding international connectivity. Vietjet has broadened its international network with routes connecting Vietnam to markets including Australia, India, Indonesia, Kazakhstan and Russia.
Viettel Group (brand value up 7% to USD7.9 billion) remains Vietnam’s leading brand in the ASEAN ranking, despite slipping one place to fifth overall. Its position reflects its established telecommunications business and expanding role in digital infrastructure. Viettel continues to strengthen its position through investment in telecommunications infrastructure and advanced digital technologies. By the end of 2025, it operated the country’s largest 5G network, with 30,000 base stations serving 12.6 million subscribers. Continued investment in 5G, research and patents are extending the brand’s capabilities beyond connectivity into digital services and technology development.
Vietnamese banking brands are also building momentum across ASEAN. VPBank (brand value up 41% to USD995million), VietinBank (brand value up 32% to USD2.2 billion) and MB (brand value up 27% to USD2 billion) also record strong growth. Vietnam and the Philippines now account for 33 of ASEAN’s 83 ranked banking brands. Banking remains the region’s largest sector, with a combined brand value up 5% to USD105.9 billion.
Brand Finance’s market research shows that MB leads Vietnamese banking brands for customer trust. It ranks ahead of Techcombank (brand value up 5% to USD1.7 billion), Vietcombank (brand value up 7% to USD2.5 billion), BIDV (brand value up 11% to USD1.8 billion) and VietinBank, showing that customer trust is not necessarily tied to scale.
Alex Haigh, Managing Director, Brand Finance Asia Pacific, commented:
“Growing faster than any other market in ASEAN, Vietnam’s brands are also showing that size is not the only route to leadership. MB ranks first for customer trust among Vietnamese banking brands, while Bao Viet is ASEAN’s strongest brand overall and Vinpearl its strongest hotel brand. That combination of rapid growth and exceptional brand strength gives Vietnamese businesses a solid foundation for competing beyond their home market.”
Vinpearl (brand value up 86% to USD381 million) notes a BSI score of 95.4/100, the highest among hotel brands in the region. Its performance demonstrates that rapid brand value growth can coincide with strong brand perceptions. As a Vietnamese hospitality brand, Vinpearl combines accommodation and leisure experiences to serve domestic and international visitors.
Meanwhile, Vietnamese beer brands also contribute to the country’s performance. Saigon grows 37% in brand value, while 333’ Export records a 52% increase to USD502 million. According to Brand Finance’s ASEAN 500 2026 report, the combined value of the region’s 500 most valuable brands rises 8% to USD315.6 billion. Vietnam’s results demonstrate how established businesses and fast-growing challengers can create value through different routes, from expanding digital services and international networks to building customer trust and distinctive brand propositions.
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, 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.
