DBS Bank is Singapore's most valuable banking brand, consultancy study shows

DBS Bank is ranked Singapore's most valuable banking brand and the top banking brand in the region, say findings from The Brand Finance Banking 500 study released on Tuesday. -- ST FILE PHOTO: CHEW SENG KIM
DBS Bank is ranked Singapore's most valuable banking brand and the top banking brand in the region, say findings from The Brand Finance Banking 500 study released on Tuesday. -- ST FILE PHOTO: CHEW SENG KIM

DBS Bank is ranked Singapore's most valuable banking brand and the top banking brand in the region, say findings from The Brand Finance Banking 500 study released on Tuesday.

It also showed that DBS is one of the top 10 banking brands in Asia.

DBS improved its global ranking by four places, going from 58th to 54th.

Mr Samir Dixit, managing director of Brand Finance Asia Pacific, said: "DBS leads the pack for another year with a brand value of US$4.01 billion (S$5.08 billion). This is up 15.3 per cent on 2013, an increase of over half a billion dollars.

"This puts DBS just outside the global top 50, but with such impressive growth it is likely to break into the prestigious top 50 group next year."

The Brand Finance Banking 500 is an annual study conducted by brand valuation consultancy Brand Finance, and published in The Banker magazine.

Mr Dixit said that as earnings remain threatened in the Asean region, the strength of bank brands will be tested this year.

Even with just three banks on the global 500 rankings, BrandFinance noted that banks from Singapore represented the greatest total brand value of any Asean country.

They have a combined brand value of US$8.5 billion, an increase of 17 per cent compared with last year's total of US$7.3 billion.

Ms Karen Ngui, head of group strategic marketing and communications at DBS Bank, said: "DBS is honoured to be recognised as the most valuable bank brand in Singapore yet again. It is heartening to note that our brand value now exceeds US$4 billion and that we are also the most valuable bank brand in Asean."

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