Top 500 banking brands’ total brand value doubles over a decade

The combined value of the world’s top 500 most valuable banking brands has reached a record $1.44-trillion, almost double what it was a decade ago, according to a new report from Brand Finance, the world’s leading brand valuation consultancy.

The Chinese banking sector demonstrates a notable recovery, with the “big four” banks remaining well ahead of their US counterparts. Industrial and Commercial Bank of China is the world’s most valuable banking brand for the eighth consecutive year, boasting a 3% rise in brand value to $71.8bn. China Construction Bank, Agricultural Bank of China and Bank of China secure second, third and fourth positions respectively, following single-digit percentage increases in each of their brand values.

Brand Finance’s research indicates that local and regional banks are performing as well as — and, in many cases, better than — global banks in terms of positioning their brand in the hearts and minds of customers. Indonesia’s BCA is the world’s strongest banking brand with a brand strength index score of 93.8 out of 100 and elite AAA+ rating. Three African brands — Equity Bank (92.46), FNB (92.29) and Kenya Commercial Bank (91.47) — all rank among the top five strongest banks, while Capitec is seventh at 89.08. On average, the brand strength index of the 19 African brands that appear in the Top 500 Banking Brands 2024 is stronger than any other continent.

While brand value is a direct measurement of the monetary value of the asset that is called the brand, Brand Finance uses brand strength as a measurement of the overall health of a brand, reflecting where the brand is positioned in the hearts and minds of customers and the wider market using relevant emotional and rational key performance indicators.

“These rankings are based on global best practice, are ISO compliant and show the strength of local African brands from South Africa and Kenya,” says Jeremy Sampson, chair of Brand Finance Africa. “FNB and Capitec continue to dominate from a South African perspective and are to be heartily congratulated. Nigerian banks have suffered as a result of the slippage in the value of the naira against other currencies. Access Bank had the added sad loss of its highly respected CEO in a plane crash in the US.”

Only 11 of the top 50 countries experienced decreases in aggregate value, led by Russia (69%), Malaysia (20%) and Nigeria (14%). Unsurprisingly, due the international sanctions imposed on Russia, the country’s two largest bank brands — VTB Bank and Sberbank — have suffered the biggest falls in brand value by percentage, with 91% and 63% plunges, respectively.

Brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitor.

The full ranking is available here.

The big take-out: FNB and Capitec are ranked among the top seven strongest banks by Brand Finance.