The Brand Finance Banking 500 report: ANZ ranked Australia’s Most Valuable Bank Brand

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ANZ-Simon-Bakes-Art.jpgThe Brand Finance Banking 500, released today, is an annual study conducted by leading Brand Valuation agency Brand Finance and published in the February edition of ‘The Banker’ magazine. The world’s biggest banks are ranked by their brand value, with the results reflecting industry trends and indicating future developments.

2014 has been an excellent for Australia’s banks, with almost all experiencing an increase in their brand value. Australia’s top bank brand, ANZ has added US$93 million (AU$106 m) to its value, resulting in a total brand value of over US$5.9 billion (AU$ 6.8 bn) and a rank of 39th in the world. This is unsurprising given the financial success of the past year and the excellent marketing and sponsorship activities ANZ has undertaken. Westpac has also had a successful year. It has grown its brand value by 19%, a rise of US$793 million (AU$905 m), bringing its total to US$4.9 billion (AU$5.6 bn).

GLOBAL-BANK-BRANDS.jpgThe fastest gains have been made by the lower ranked bank brands however. BT Financial Group has grown an incredible 94% to a total brand value of over half a billion US dollars. This means it places 203rd globally, having jumped 93 places up the global rankings. Suncorp is up 28% while Bankwest has also seen an increase of over 20%. Bankwest has also improved its brand rating from AA- to AA. The brand rating is a benchmark of the strength, risk and potential of a brand, suggesting that Bankwest is poised for further improvements next year.

Wells Fargo has held its position as the world’s most valuable banking brand, with a total brand value of over US$30 billion. Western brands in general have shown promising improvements. HSBC’s brand value has grown by $US 4 billion, while UBS’ is up US$3.35 billion, a 46% increase. Meanwhile the total for Greece is up over 100% as successful austerity measures have begun to rapidly transform the country’s economic outlook.

Notable results from elsewhere in the world included the halting of rapid growth in some BRIC countries, namely Russia, India and Brazil. Their national brand value totals are down 6%, 13% and 23% respectively. China, however, continues to grow strongly. Its banks have added a total of nearly US$19 billion and there are now 3 Chinese bank brands in the global top ten.

QNB is the Middle East’s most valuable bank brand for another year with a brand value of US$1.8 billion. However banks from the UAE represent the greatest total brand value of any Middle Eastern country, with a combined brand value of nearly US$6 billion.