Poland’s Banking Brands Outperform the Rest of Europe
The Brand Finance Banking 500, conducted by leading brand valuation and strategy consultancy Brand Finance plc, and published in the February edition of The Banker, is a league table of the world’s biggest banks, ranked by their brand value.
Poland’s brands have defied the slump in the rest of Europe, posting solid growth. Western European banks in particular have performed poorly. Total Spanish bank brand values are down 2%, for the UK the figure is -3%, Italy -5%, Germany -6% and France -19%.
In contrast, the brands of four of the five Polish banks that appear in the list have shown strong growth. PKO Bank Polski, Poland’s most valuable banking brand has grown 23% to a total of $1.6billion (PLN 6bn). Bank Zachodni WBK has shown the most rapid growth; its brand value is up 49% to $902 million (PLN 3.4bn). mBank has not done as well, dropping by 14%, while Getin-Noble has dropped out of the global top 500 altogether.
Wells Fargo remains the world’s most valuable bank brand. Following growth of 15%, its total value stands at $34.9bn. Some other US banks have registered respectable brand value growth such as Citi and Chase (both up 7%) while others such as Bank of America (-4%), Goldman Sachs (-7%) and JP Morgan (-15%) are in the doldrums.
JP Morgan chief executive Jamie Dimon recently expressed concerns that overregulated western banks might be superseded by Chinese brands. Brand Finance’s research would appear to bear that out. ICBC has moved from 6th to 2nd place in the rankings, overtaking HSBC which is now in 3rd globally. China Construction Bank, which has already overtaken HSBC in terms of market capitalisation, has grown its brand by 39% to overtake Citi, BoA and Chase. Spain’s Santander has been pushed to the bottom of the top ten by Bank of China and Agricultural Bank of China.
European banks have had an even less successful year than those from the US. Total Spanish bank brand values are down 2%, for the UK the figure is -3%, Italy -5%, Germany -6% and France -19%.
QNB is the most valuable bank from the Middle East or Africa. Its brand value is up 44% to $2.6bn. It exemplifies the rapid growth of many Gulf and developing world bank brands. The top ten fastest growing countries are Morocco (+98%), India (+61%), Nigeria (+52%), UAE (+45%), Colombia (+44%), Qatar (+44%), the Philippines (+43%), Saudi Arabia (+40%), China (+29%) and Bahrain (+29%).
Note to Editors
Brand values for 2015 are calculated in USD with a valuation date of 1/1/15.
The study has been published annually in the February edition of the Financial Times’ ‘The Banker’ since 2006. Full results can be found on Brand Finance’s website or at thebanker.com/topbankingbrands from February 2nd.
To coincide with the release of the Banker / Brand Finance Banking 500, Brand Finance is hosting an event on February 10th. Speakers include Mark Mullen, chief executive of Atom Bank; David Yates, chief executive of Vocalink, Brian Spoule, chief economist at the IOD and Brian Caplen, editor of The Banker. More information can be found on our events website. To attend please email firstname.lastname@example.org.