Ranking SA banks by brand value
In an age of service parity, brand value and perception are key differentiators. A new global survey ranks SA’s major banks, and finds China’s lenders have overtaken those of the US in terms of brand value
Three major SA banks appear this year on the authoritative Brand Finance Most Valuable Global Banking Brands survey, and all have moved up on last year’s ranking. Standard Bank tops the SA list at 130 out of 500 institutions and has improved its position by four places. Absa is placed 144, up from 158, and Capitec shows the biggest jump — from 347 to 311. The survey, conducted in 2016, also finds that FNB is the strongest SA bank in terms of overall public brand perception, while RMB is SA’s fastest-growing banking brand, at 49%. Nigerian-based Ecobank has lost 51% of its brand value in the past 12 months. A local brand marketer working in the financial services space says: “These numbers give a clear indication of how banks are generally perceived and importantly, how they relate to customers in terms of delivery, innovation and market likeability — not always an easy thing in a competitive sector in which efficiencies are hard to achieve.” Standard Bank’s brand value is estimated...
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