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See Why Standard Bank Is Africa’s Most Valuable Banking Brand

Standard Bank has dethroned Absa to clinch the title of Most Valuable Bank Brand on the continent, according to brand valuation consultancy Brand Finance’s list of the top 500 banks in the world

Complied by The Banker in partnership with Brand Finance, the list is an analysis of financial and revenue data, market demand and the bank’s position in relation to market competitors.

Business Tech reports that Standard Bank’s concerted shift to focus on a pan-African group brand positioning strategy has paid off handsomely and helped the banking group bag the coveted title.

Standard Bank was the only local bank to grow its brand value from $1,2 billion ( R19,4 billion) to $1,3 billion (R21 billion) as Absa, FNB and Nedbank all lost more than 20% in brand value in the past year.

FNB’s brand value depreciated from $1,3 billion to $1,05 billion (R16,9 billion), while Absa’s and Nedbank’s dropped by $1,3 billion to $1,01 billion (R16,3 billion) and $1,1 billion (R17,8 billion) to $934 million (R15,1 billion) respectively.

In the overall global rankings, South Africa’s banking industry brand value was ranked 25th in the world, with a value of $5,16 billion (R83,6 billion) – down 11% from $5,8 billion (R94 billion) last year – ahead of the total banking brand value of Nigeria ($994 million – R16 billion) and Egypt ($536 million – R8 billion), the only other African countries to crack the top 50 list.

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Meanwhile, MTN’s massive multibillion-dollar infringement fine in Nigeria has had devastating effects on the local telecommunications multinational’s value and reputation, with billions wiped off its market capitalisation as its share price took a major knock.

And just when you thought it couldn’t get worse for MTN, the group – which was ranked the 302nd most valuable brand in the world last year – has this year fallen off Brand Finance’s top 500 most-valuable global brands list.

MTN’s brand value fell to $4,6 million (R75 million) from $5,3 million (R86 million) last year, while the company’s brand rating dropped from AA + to AAA –, according to the report.

MTN does, however, retain its position as the most valuable brand on the continent.

Apple was once again named the most valuable brand in the world, growing its brand value by 14% over the year to $145,9 billion ( R2 trillion), followed by Google, Samsung and Microsoft.

Walt Disney was named the most powerful brand in the world, driven largely by the record-breaking success of Star Wars.

Lego, L’Oréal, PwC and McKinsey rounded off the world’s top five powerful brands.

source: destinyconnect

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Written by PH

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