When most people think about brands, they often picture iconic consumer marks like Coca-Cola or Apple. But in the realm of financial services, the importance of having a strong consumer brand is also rapidly growing. After all, with hundreds of new fintech entrants positioning themselves to be the “banks” of the future, it seems that brand awareness may be one of the major competitive advantages that incumbent banks can use to protect themselves.
Which financial institutions have the strongest brands, and which brands are the most valuable?
Valuable Bank Brands in 2019
The following chart looks at the world’s most valuable bank brands, according to a recent report from Brand Finance. It should be noted that brand value in this context is a measure of the “value of the trade mark and associated marketing IP within the branded business”. In other words, it’s measuring the value of intangible marketing assets, and not the overall worth of a business itself. Here are the top bank brands by value in 2019:
Worlds’s top 10 banks , by brand value
For the third year in a row, the Industrial and Commercial Bank of China (ICBC) takes the top spot, with a brand value of $79.8 billion. Wells Fargo is the top U.S. bank by brand value, coming in 5th place – however, the bank actually fell two spots from last year’s ranking while simultaneously losing 9% of its brand value. This is not surprising in light of the recent publicity challenges faced by the bank.
The Strongest Bank Brands
When it comes to bank brand strength, it’s worth noting that in contrast to value, these are banks that have executed on their branding, marketing, and sales strategies to have brands that ultimately create a competitive advantage for their business. Brand Finance measures brand strength by looking at a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.
— Visual Capitalist (@VisualCap) 23. svibnja 2019.