DBS Bank took top spot as Singapore's Most Valuable Brand for the sixth year running, according to Brand Finance's annual "Top 100 Singapore Brands" report.
The report by the London-based independent brand strategy and valuation consultancy calculated that DBS' brand value increased by US$1.1 billion (S$1.5 billion) from 2017, a rise of 20.3 per cent. This was more than double the average brand growth of 9 per cent among the Top 100 Singapore brands, and contributed over 45 per cent to brand value growth across the top 10 brands in Singapore.
DBS also topped the list of Most Valuable Bank Brands in Asean for the sixth consecutive year. It also nabbed the No. 40 spot globally, according to the "Brand Finance Top 500 Most Valuable Bank Brands 2018" report.
Managing director of Brand Finance Asia-Pacific Samir Dixit said that the results "highlight its strong and steady growth and show that DBS is truly a globally competitive brand and not just a strong Singapore or Asean brand".
Coming in second was OCBC Bank which saw its brand value rise from US$3.6 billion to US$4 billion, while United Overseas Bank which was ranked No. 3 saw its brand value rise from US$3.6 billion to US$3.7 billion.
TOP 10 SINGAPORE BRANDS
Each brand is accorded a brand rating: a benchmarking study of the strength, risk and future potential of a brand relative to its competitor set, and a brand value, which is a summary measure of the financial strength of the brand.