DBS Bank ranked Singapore's most valuable brand for the second year

SINGAPORE - DBS Bank has held on to its position as Singapore's most valuable brand, a year after it claimed the top spot.

The banking giant is now worth US$4.01 billion, up US$535 million from last year, according to a report from London-based consultancy Brand Finance on Thursday.

This makes its brand worth US$761 million more than second-placed Singapore Airlines', which was knocked off its perch as the country's most valuable brand last year.

Singapore Press Holdings was in 12th place with a brand value of US$984 million, while its flagship newspaper The Straits Times was in 48th place at US$112 million.

Brand Finance compiled the tally by ranking the brands of firms listed on the Singapore Exchange by their absolute dollar values.

Mr Samir Dixit, managing director of Brand Finance, told The Straits Times: "The airline business is visibly under stress now and in the next couple of years, that's why Singapore Airline's brand value is not growing as much.

"DBS is a complete opposite picture because banking as a discipline has stabilised."

Palm oil giant Wilmar maintained its position in third place at US$2.89 billion, but OCBC Bank showed the maximum gain among the top 10 players. It gained four places to be in fourth place with an increase of US$614 million in brand value.

The total value of Singapore's 100 largest brands was US$40.2 billion, with the top ten brands comprising 58 per cent at US$23.18 billion.