DBS maintained its leading position because the most beneficial banking brand in Southeast Asia and likewise rose 12 places globally to fortieth, in keeping with the recent Brand Finance Banking 500 report.
The report added that DBS’s brand value increased significantly in 2017 to US$6.5 billion, making DBS the primary ASEAN bank to be among the many top 50 most beneficial banking brands, in addition to the primary ASEAN bank to have a brand value exceeding US$6 billion.
The report also listed Singaporean banking brands OCBC and UOB as second and third respectively within the ASEAN rankings, and globally at sixty fourth and 66th respectively. BrandFinance said the “strong growth” of DBS and OCBC is partly attributable to recent acquisitions by each organisations, which have boosted their revenue bases.
Malaysian and Indonesian banks in growth phase
Malaysian banking brands also continued to fill the highest 10 rankings, with Maybank maintaining its fifth-place position from a 12 months earlier. CIMB got here eighth, dropping one spot from a 12 months earlier. Indonesian banking brands equivalent to BRI and BCA also maintained their positions in fourth and sixth place respectively, but in addition saw improvements of their global rankings.
It is encouraging to see ASEAN brands rising in the worldwide rankings, with Singaporean banks gaining increasing ground each internationally and inside ASEAN; Malaysian, Indonesian and Vietnamese banks also seeing regular growth in each brand value and strength.
Overall, the recent growth of ASEAN bank brands was also driven by the acceleration of M&A activity within the region. According to Dixit, this provided ASEAN banks with opportunities beyond their growing domestic market.
Research also indicates that the growing attachment of ASEAN consumers to brands and branded goods has also helped to create a solid foundation for competitive brands from the region. This can also be evident within the case of Indonesian banks equivalent to BCA, Mandiri and BRI, which have gotten one in every of the three strongest banking brands in ASEAN.
See the rankings of the highest ASEAN banking brands here:
Brand Finance annually evaluates the brands of 1000’s of the world’s largest corporations. The results of this evaluation are then classified, and the five hundred most beneficial banking brands on this planet are placed within the Brand Finance Banking 500.
Source: Marketing-interactive.com | Brand Finance 500
