Guess which bank has the most valuable brand
Wells Fargo held the top spot as world's most valuable banking brand of 2014, with a brand value of over $30 billion, according to a report published on Monday.
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Overall, lenders in the West held their ground against emerging market competition, in an annual study on the 500 most valuable banking brands by Brand Finance, an asset valuation consultancy.
"Western brands in general have shown promising improvements… Notable results from elsewhere in the world included the halting of rapid growth in some BRIC countries, namely Russia, India and Brazil," said Brand Finance in a news release on Monday.
The consultancy calculated the value of a brand by determining the royalties a company would have to pay to license its brand if it did not own it.
Brand Finance singled out the U.K.'s HSBC and Switzerland's UBS as particularly strong performers in the last year, with the brand value of each growing by $4 billion and $3.35 billion respectively. HSBC was ranked second (up from third in 2013) and UBS was ranked 19 (up from 30).
Brand Finance added that the total brand value of Greek banks had risen over 100 percent over the year, "as successful austerity measures have begun to rapidly transform the country's economic outlook".
While the value of bank brands in Russia, India and Brazil fell, China continued to perform strongly. The value of the lenders' brands there rose by $19 billion during the year, and there are now three Chinese banks ranked in the top 10 — Industrial and Commercial Bank of China (ICBC), China Construction Bank and the Agricultural Bank of China.
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