US-based Wells Fargo replaces UK-based HSBC as the world’s most valuable brand in this year’s Top 500 Banking Brands ranking, carried out by The Banker and Brand Finance. Wells Fargo’s achievement demonstrates the improved standing of US banks as they recover from the financial crisis and forge ahead.
Wells Fargo gained $2.8bn to give it a brand value of $26bn and so recovering some, but not all, of last year’s $5.7bn loss. And while 2012’s drop in value did not dislodge Wells Fargo from the second spot, this year’s increase was enough to give it the top position.
US banks hold four of the top five places in the ranking – up from three last year – with UK-based HSBC suffering a two-place drop to third.
For the full story, see the Top 500 Banking Brands ranking.
