Thursday, April 10, 2008
VietinBank-the new brand name of Incombank from 15 April

The new brand name of Viet Nam Bank for Industry and Trade will be changed from Incombank to VietinBank in all branches nationwide from 15 April, said the Bank at a press conference in Hanoi today, 10 April.

The renaming of the Bank aims to meet the new opportunities and challenges of the renewal process and international economic integration of the nation. Its legal name which had from 1988 will not change.

The Bank logo is a special design of the “VietinBank” letters and a symbol of the rising Earth embracing an ancient coin. The VietinBank brand logo expresses the union of the Heaven and the Earth, Yin and Yang (two complementary principles of Chinese philosophy) as a stable and perfect composition. The overall image of the symbol expresses a brightening dawn with a rising sun and an orbit movement, representing the motions and harmony of the Heaven and the Earth in the universe.

The core brand identity system has been designed based on the values of VietinBank brand name, representing the specific nature and spirit of products and services offered by the Bank.

One of the leading commercial banks in Viet Nam, after 20 years of operation, VietinBank has developed and reached great achievements in all business fields, making considerable contribution to the efficient implementation of monetary policy, enhanced economic growth, and improving competitiveness given Viet Nam’s international economic integration. The Bank operates in 56 out of 64 provinces and cities of the nation with 3 main transaction centers, 138 branches and over 700 transaction and saving offices.

Moreover, with the target of becoming a modern and universal financial group, VietinBank has correspondent banking relationships with more than 800 banks in 80 countries and territories worldwide.

By the end of 2007, total assets of VietinBank were 175 trillion VND, accounting for 15% of total assets of the whole banking system, total mobilized funds increased by 18.4%, and total loans and investments increased by 22.6%. Especially, the non-performing loan ratio remained at a low level of 1.02% (lower than the regulated 3% set by the State Bank of Viet Nam). (CPV)