QNB outpaces Middle Eastern competitors
Qatar National Bank, the biggest lender in the region, has a clear lead over competitors, with its brand value of USD6.0 billion almost 50% higher than that of the second-placed banking brand in the Middle East. QNB’s brand value has grown 20% since 2019 – despite a regional embargo on Qatar – as the bank has been pursuing expansion across new markets, with a notable strategic focus on Southeast Asia.
The market with the highest increase in brand value is Vietnam, which has risen by 146%. Vietcombank climbed by 99% to USD0.8 billion, the second highest growth rate by percentage globally. Since the Vietnamese government introduced its strategy to boost accountability and strength of the banking sector, including more stringent capital requirements and greater transparency, customer perception has improved. Growing confidence in the sector – reputation measures have improved 8% in Brand Finance’s research – has translated into higher revenues and a more positive outlook from equity analysts.
Apart from calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Alongside revenue forecasts, brand strength is a crucial driver of brand value
According to these criteria, Indonesia’s BCA, which has become one of Asian banking’s most admired companies, has the sector’s strongest brand, along with Russia’s Sberbank, both of which boast an impressive Brand Strength Index (BSI) score of 91.6 out of 100 and the corresponding elite brand rating of AAA+.
BCA is one of the biggest banks in the ASEAN region, with a low percentage of non-performing loans and a high return on equity. Moreover, BCA is an influential brand in terms of SME growth and lending in rural areas. The ASEAN region is home to five of the top 10 banks by brand strength, with Maybank, DBS, BNI, and Bank Mandiri hot on BCA’s heels. Some Asian banks have lost value due to their exposure to the unstable situation in China’s Hong Kong, but Malaysian and Indonesian banks are not as vulnerable.
Sberbank is a stable brand that has a particular focus on customer experience, from traditional financing to a strong digital offering. The bank is responsible for one third of the Russian banking system and is the country’s largest issuer of debit and credit cards. Now, with rapid development in non-finance, Sberbank is pioneering new frontiers for continuously evolving financial institutions.
Latest News
Recommended news