However, Standard Bank is the most valuable banking brand in South Africa, according to data supplied to BusinessTech from Brand Finance.<\/p>\n
“Brand value refers to the present value of earnings specifically related to brand reputation. Organisations own and control these earnings by owning trademark rights,” says Brand Finance.<\/p>\n
Standard Bank’s brand value grew by over 10% in the last year to reach over $1.74 billion US dollars.<\/p>\n
However, Standard Bank’s rank of 145 in terms of brand value remains unchanged from the previous year.<\/p>\n
Despite, FNB being named the strongest banking brand on earth according to the Brand Finance’s Report, its overall brand value decreased by 3% to $1.54 billion. Moreover, its brand value ranking dropped by nine places to 155.<\/p>\n
Absa (185) and Nedbank (204) also saw their global rankings drop, even though the brand value of both banks increased.<\/p>\n
Investec’s 2023 brand value remained unchanged from 2022, but it dropped to 209 in the rankings.<\/p>\n
Capitec and Rand Merchant Bank also saw their brand values drop, which saw them drop to 262 and 398 in the global rankings, respectively.<\/p>\n
Ultimately, no South African bank saw its brand value ranking increase from the previous year.<\/p>\n
Brand values of South African banks are as follows:<\/p>\n
| Brand name<\/th>\n | 2022 rank<\/th>\n | 2023 Rank<\/th>\n | 2022 Brand Value<\/th>\n | 2023 Brand Value (US$m)<\/th>\n | Change<\/th>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Standard Bank<\/td>\n | 145<\/td>\n | 145<\/td>\n | $1 583<\/td>\n | $1 748<\/td>\n | +10%<\/span><\/td>\n<\/tr>\n| FNB<\/td>\n | 146<\/td>\n | 155<\/span><\/td>\n | $1 581<\/td>\n | $1 540<\/td>\n | -3%<\/span><\/span><\/td>\n<\/tr>\n | Absa<\/td>\n | 154<\/td>\n | 185<\/span><\/td>\n | $1 437<\/td>\n | $1 492<\/td>\n | +4%<\/span><\/td>\n<\/tr>\n | Nedbank<\/td>\n | 191<\/td>\n | 204<\/span><\/td>\n | $1 018<\/td>\n | $1 021<\/td>\n | +0%<\/span><\/td>\n<\/tr>\n | Investec<\/td>\n | 193<\/td>\n | 209<\/span><\/td>\n | $992<\/td>\n | $992<\/td>\n | 0%<\/td>\n<\/tr>\n | Capitec<\/td>\n | 252<\/td>\n | 262<\/span><\/td>\n | $625<\/td>\n | $620<\/td>\n | -1%<\/span><\/span><\/td>\n<\/tr>\n | Rand Merchant Bank<\/td>\n | 385<\/td>\n | 398<\/span><\/td>\n | $311<\/td>\n | $307<\/td>\n | -1%<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n | Although Discovery and Tymebank were not included in the brand value rankings, Brand Finance said that both brands are disrupting the banking industry.<\/p>\n The value of digital banks – also known as ‘neobanks’ – has risen by over 103% over the last year – increasing from $795.6 million in 2022 to $1,611.9 million in 2023.<\/p>\n Neobanks generally score highly in terms of sustainability and innovation – two key drivers for customer choice.<\/p>\n Global banks\u00a0<\/strong><\/p>\n Chinese bank ICBC remains the most valuable banking brand in the world, despite its value falling 7% to $69.5 billion.<\/p>\n Chinese banks swept the podium, with the China Construction Bank (brand value down 4% to $62.7 billion) and the Agricultural Bank of China (brand value down 7% to $57.7 billion) taking second and third spot, respectively.<\/p>\n The top ten most Valuable Banking Brands in the world contain only American and Chinese banks.<\/p>\n American Silicon Valley Bank (108) is the fastest-growing banking brand in terms of brand value, doubling in value to almost $2.8 billion.<\/p>\n The top ten most valuable banking brands in the world (in millions of US dollars):<\/p>\n |
![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/02\/Most-valuable-banking-brands.jpg\")
<\/a><\/p>\n