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NEW CONTRIBUTIONS OF THE THESIS
Thesis topic: Brand valuation for Vietnam’s commercial banks
Major: Finance – Banking
Code: 62340201
PhD student: Đỗ Hoài Linh
Instructors: 1. Associate Prof.Dr. Nguyễn Hữu Tài
Training facility: National Economic University

PhD student code: NCS29.22TCNH
2. Dr. Dỗn Hồng Minh

New contributions in terms of academic literature
From the brand valuation approach based on financial data, with Aswath Damodaran’s
discounted cashflow method (estimated income method), the thesis has proposed a brand valuation
model for Vietnam’s commercial banks, specifically:
(1) Brand valuation model for Vietnam’s commercial banks includes four steps (1) Financial
forecast, (2) Determination of brand contribution value, (3) Determination of brand
discount rate, (4) Calculation of brand value by discounting cashflow generated by bank’s
brand.
(2) The model is based on 8 attributes related to the characteristics of Vietnam’s commercial
banks, with specific scoring template, to calculate brand discount rate as follow: (1) Time
in the market, (2) Branch network, (3) New products growth rate, (4) Number of
customers growth rate (5) Proportion of mobilized capital, (6) Proportion of outstanding
balance, (7) Non-performing loans ratio, (8) ROA growth rate
New conclusions and recommendations drawn from research results
(3) Experiment the proposed model on BIDV brand in 2013, and the result for this brand
valuation is 17,664,776.64 million VND.
(4) The thesis has proposed conditions to apply the model in practice, including (1) Build and
complete legal frame for brand as well as brand valuation (2) Complete macro and micro
forecasts (3) Ensure the transparency and health of commercial banks’ financial reports
(4) Develop information support department for brand valuation.

(5) The thesis’ research results help: (1) confirm that brand is a valuable asset of commercial
banks, which is reported on the balance sheet; (2) make it easier and more accurate in
acquisitions, merger, or brand franchising plans and transactions; (3) complete reports on
commercial bank valuation.
Instructors

PhD student

(signed)

(signed)

Associate Prof.Dr. Nguyễn Hữu Tài

Dr. Dỗn Hồng Minh

Đỗ Hồi Linh