Decision Lab, the exclusive partner of YouGov in Vietnam, has released the annual Decision Lab Bank Satisfaction Rankings 2024. The report assesses the Vietnamese banking sector's performance through the lens of customer satisfaction, offering invaluable insights into how well each bank has met the evolving needs and expectations of its customers in an increasingly competitive and digitally driven landscape.According to the ranking, Vietcombank continues to be the most satisfying bank in Vietnam, followed by Techcombank and MB.

Vietcombank continues to top the Decision Lab Bank Satisfaction Rankings

Vietcombank has emerged as the clear leader, securing the top spot with an impressive score of 84.0, indicating that the number of satisfied customers far exceeds the number of dissatisfied customers.

Across the board, customer satisfaction scores have witnessed a sharp increase over the past year. Techcombank (83.6), in particular, has made significant strides, boasting the highest score increase of 4.4 among the top 10 banks, which propelled it to second place in the rankings. VIB (74.7) and TPBank (73.6) also showcased remarkable progress, each climbing three positions in the rankings.

SHB has the highest increase in customer satisfaction

Besides the Top 10 ranking, Decision Lab also published the Top 5 improvers to highlight the banks in Vietnam with the highest increase in customer satisfaction scores over the past year.

According to the ranking, SHB emerged as the top improver, recording an impressive 8.2 index points increase in customer satisfaction. This significant improvement can be attributed to SHB's focus on digital transformation and innovation, such as launching new features on its mobile banking app and updating its biometric data collection process. Additionally, SHB introduced attractive financial solutions for foreign-invested enterprises and received recognition for its outstanding digital solutions at the Digital CX Awards 2024.Following SHB, LPBank and Techcombank saw notable improvements in their satisfaction scores, with increases of 5.7 and 4.4 points, respectively.

Thue Quist Thomasen, CEO at Decision Lab, commented on the rankings: “The Decision Lab Bank Satisfaction Rankings 2024 provides a comprehensive assessment of the Vietnamese banking sector's performance through the lens of customer satisfaction. As the industry navigates an increasingly competitive and digitally-driven landscape, the rankings offer invaluable insights into how well each bank has adapted to meet the evolving needs and expectations of its customers.With Vietcombank leading the sector and banks like Techcombank and MB making significant strides in customer satisfaction, it is clear that the key to success lies in prioritising innovation, digital transformation, and a customer-centric approach. The rankings serve as a reminder that even minor fluctuations in customer satisfaction can have a substantial impact on a bank's competitive standing, underlining the importance of continuously striving to understand and exceed customer expectations in this dynamic industry”

Methodology

The Decision Lab Bank Satisfaction Rankings 2024 are calculated using data collected daily through the flagship YouGov BrandIndex solution.Brands were ranked based on their Net Satisfaction Score, determined by subtracting the Negative Satisfaction Score from the Positive Satisfaction Score of the Brand.

In the Positive Satisfaction Score, people are asked: “Of which of the following Financial Institutions & Services brands would you say that you are a SATISFIED customer?”.
In the Negative Satisfaction Score, people are asked: Of which of the following Financial Institutions & Services brands would you say that you are a DISSATISFIED customer?”.Respondents are current customers of each bank aged 18 years old and older.Tracking period: 1st September 2023 – 31st August 2024 Compared to: 1st September 2022 – 31st August 2023All brands must have a minimum sample size of 200 responses and have been tracked for at least six months to be included in the Rankings and for at least 18 months to appear in the Improvers table. In this report, 22 banks meet these criteria and are ranked accordingly.All scores are rounded to a single decimal place.