The Banker / BrandFinance® Banking 500, released today, is an annual study conducted by Brand Finance plc, the world’s leading brand valuation consultancy, published in the ‘The Banker’ magazine. The world’s biggest banks are ranked by their brand value, with the results reflecting industry trends and indicating future developments.
Just as George Osborne is trying to play down the significance of a triple-dip recession, UK banks’ brand values have tumbled. Overall brand values are down 2% for UK banks, from $68 billion in 2012 to $66.5 billion this year, making the UK the only top 10 country to see its banks’ brand values fall. UK banks have suffered a series of damaging scandals in the past couple of years from mis-selling of insurance to regulatory transgressions which have hit their brand strength. HSBC, last year’s most valuable banking brand, has divested itself of several major investments. The resulting lost revenues have further cut brand value, contributing to its loss of the top spot.
