3 local banks among top 80 banking brands

DBS Bank , OCBC and United Overseas Bank remain Southeast Asia's strongest and most valuable banking brands, a new global survey has found.

The three Singapore brands also rank among the world's top 80.

In the annual Banking 500 ranking released last week, DBS was the highest ranked in Asean at No. 48, with a brand value of US$5.31 billion (S$7.5 billion).

The value was calculated by estimating a brand's future revenue and royalty rate, based on Jan 1 data.

OCBC came second in Asean and 67th globally, with a brand value of US$3.29 billion, followed by UOB in third place regionally and 79th globally with a brand value of US$2.76 billion, the survey conducted by Brand Finance also showed.

DBS marketing and communications head Karen Ngui said: "Over the years, we have been committed to shaping the future of banking, embracing digital and embedding ourselves in the customer journey. Being recognised as one of the world's top 50 banking brands spurs us on to making banking simple, smart and effortless."

A total of 32 Asean banks made the top 500 global ranking. Maybank, Asean's number four, was ranked at the 101st place with a brand value of US$2.05 billion.

Indonesia's Bank Mandiri, which was valued at US$1.83 billion, was fifth in Asean and 106th globally.

China's mega banks again dominated on the global stage. ICBC was No. 2 with its brand valued at US$36.33 billion.

The United States giant Wells Fargo was No. 1, sitting on a brand value of US$44.17 billion.

A version of this article appeared in the print edition of The Straits Times on February 08, 2016, with the headline '3 local banks among top 80 banking brands'. Print Edition | Subscribe