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The Most Valuable Banking Brands Revealed

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The Brand Finance Banking 500, conducted by leading brand valuation consultancy Brand Finance, and published in the February edition of The Banker, is a league table of the world’s 500 biggest banks, ranked by their brand value.

America’s banks remain the most valuable in the world. 60 American bank brands feature in the global top 500, with a cumulative brand value of $201bn. Wells Fargo is not just the most valuable banking brand in the US, but across the world. Its brand value now stands at just short of $35 billion.

However, there is no room for complacency. JP Morgan chief executive Jamie Dimon recently expressed concerns that the western brands that dominate global banking might be superseded by Chinese brands. The results of this year’s Brand Finance Banking 500 would appear to bear Dimon’s fears out.

Citi, BoA and Chase, America’s 2nd, 3rd and 4th most valuable bank brands have been overtaken by both ICBC and China Construction Bank. When the world’s bank brands are ranked by the brand value they have added this year, five of the top six are Chinese. China Construction Bank has added more than any other, $7,463 billion since the 2014 study, to reach a total of $26.4 billion.

Many other banking brands from emerging economies have performed strongly this year. State Bank of India’s brand value is 62% up of last year, reinforced by its pioneering use of technology. Bradesco has defied the Brazilian economy to post strong growth of 17%. Looking at the change in total bank brand value from last year, the top ten fastest growing countries are Morocco (+98%), India (+61%), Nigeria (+52%), UAE (+45%), Colombia (+44%), Qatar (+44%), the Philippines (+43%), Saudi Arabia (+40%), China (+29%) and Bahrain (+29%). These results highlight the rapid expansion of GCC brands this year. QNB, the most valuable bank from the Middle East or Africa, exemplifies the trend. Its brand value is up 44% to $2.6bn.

European banks have been far less successful. Hampered by slow growth in the Eurozone, a majority of brands from Western Europe have actually lost value and some have dropped out of the global top 500 altogether. The total brand value of Spanish brands in the table is -2%, the UK -3%, Italy -5%, Germany -6% and France -19%.

The World’s Most Valuable Banking Brands (Top 10)

 

Global Rank 2015 Global Rank 2014 Brand Domicile Brand Value 2015 (USDm) Brand Rating 2015 Change (%) Change (USDm) Brand Value 2014 (USDm) Brand Rating 2014
1 1 Wells Fargo US 34,925 AAA- 15% 4,683 30,242 AAA-
2 6 ICBC China 27,459 AA+ 20% 4,656 22,803 AA+
3 2 HSBC UK 27,280 AAA 2% 410 26,870 AAA
4 9 China Construction Bank China 26,417 AAA- 39% 7,463 18,954 AA+
5 4 Citi US 26,210 AA+ 7% 1,692 24,518 AA+
6 3 Bank of America US 25,713 AA+ -4% -969 26,683 AA+
7 5 Chase US 24,819 AA 7% 1,662 23,157 AA+
8 10 Agricultural Bank Of China China 22,714 AA+ 28% 4,931 17,783 AA+
9 12 Bank of China China 20,392 AAA- 22% 3,666 16,725 AA+
10 8 Santander Spain 18,700 AAA- -7% -1,321 20,021 AAA-

 

Top 10 Most Valuable Banking Brands – Asia Pacific

 

Rank 2015 Rank 2014 Brand Domicile Brand Value 2015 (USDm) Brand Rating 2015 BV % Change Change (USDm) Brand Value 2014 (USDm) Brand Rating 2014
2 6 ICBC China 27,459 AA+ 20% 4,656 22,803 AA+
4 9 China Construction Bank China 26,417 AAA- 39% 7,463 18,954 AA+
8 10 Agricultural Bank Of China China 22,714 AA+ 28% 4,931 17,783 AA+
9 12 Bank of China China 20,392 AAA- 22% 3,666 16,725 AA+
12 11 MUFG Japan 14,511 AA -17% -3,049 17,561 AA
25 44 China Merchants Bank China 8,880 AAA- 65% 3,490 5,390 AA
27 17 Sberbank Russia 8,668 AAA- -21% -2,282 10,950 AAA
29 42 Commonwealth Bank Australia 7,520 AAA- 37% 2,044 5,475 AA+
31 36 Bank of Communications China 7,124 AA+ 3% 241 6,884 AA
36 43 Shinhan Financial Group South Korea 6,848 AA+ 26% 1,432 5,416 AA+

 
 

Top 10 Most Valuable Banking Brands – Africa
Global Rank 2015 Global Rank 2014 Brand Domicile Brand Value 2015 (USDm) Brand Rating 2015 BV % Change Change (USDm) Brand Value 2014 (USDm) Brand Rating 2014
117 132 ABSA South Africa 1,585 AA- 30% 362 1,223 AA-
129 146 First National Bank South Africa 1,385 AAA- 31% 328 1,056 AAA-
136 113 Standard Bank South Africa 1,264 AAA- -21% -331 1,595 AA+
140 136 Nedbank South Africa 1,169 AA+ -2% -27 1,196 AA
283 281 Wesbank South Africa 416 AA- 6% 25 391 AA-
290 367 Ecobank Togo 392 A+ 61% 148 243 A
315 386 Attijariwafa Bank Morocco 330 AA- 47% 105 225 A+
336 382 First Bank of Nigeria Nigeria 300 AA 31% 72 228 AA-
338 n/a CIB Egypt 297 A+ n/a n/a
388 453 Zenith Bank Nigeria 235 A+ 36% 62 174 AA-
Top 10 Most Valuable Banking Brands – Europe
Global Rank 2015 Global Rank 2014 Brand Domicile Brand Value 2015 (USDm) Brand Rating 2015 BV % Change Change (USDm) Brand Value 2014 (USDm) Brand Rating 2014
3 2 HSBC UK 27,280 AAA 2% 410 26,870 AAA
10 8 Santander Spain 18,700 AAA- -7% -1,321 20,021 AAA-
11 7 BNP Paribas France 14,939 AA -26% -5,268 20,206 AAA-
13 13 Barclays UK 14,179 AA 0% 13 14,166 AA+
17 19 UBS Switzerland 11,574 AA+ 9% 931 10,644 AA+
19 15 Deutsche Bank Germany 10,993 AA -19% -2,498 13,491 AA+
22 22 Credit Suisse Switzerland 9,181 AA -9% -962 10,144 AA+
26 27 ING Netherlands 8,876 AA 11% 888 7,988 AA
28 25 BBVA Spain 8,335 AA+ -2% -198 8,533 AA+
30 29 Société Générale France 7,415 AA+ -5% -385 7,799 AA+
Top 10 Most Valuable Banking Brands – North America
Global Rank 2015 Global Rank 2014 Brand Domicile Brand Value 2015 (USD m) Brand Rating 2015 BV % Change Change (USDm) Brand Value 2014 (USD m) Brand Rating 2014
1 1 Wells Fargo US 34,925 AAA- 15% 4,683 30,242 AAA-
5 4 Citi US 26,210 AA+ 7% 1,692 24,518 AA+
6 3 Bank of America US 25,713 AA+ -4% -969 26,683 AA+
7 5 Chase US 24,819 AA 7% 1,662 23,157 AA+
14 16 RBC Canada 12,473 AA 13% 1,413 11,060 AA+
16 14 J.P. Morgan US 11,958 AA -15% -2,080 14,039 AA
18 18 TD Bank Canada 11,127 AA+ 3% 272 10,855 AA+
20 21 Goldman Sachs US 9,403 AA+ -7% -757 10,160 AA+
21 24 Capital One US 9,392 AA 4% 333 9,058 AA+
24 26 Morgan Stanley US 8,888 AA 10% 774 8,115 AA
Most Valuable Banking Brands – South America
Global Rank 2015 Global Rank 2014 Brand Domicile Brand Value 2015 (USDm) Brand Rating 2015 BV % Change Change (USDm) Brand Value 2014 (USDm) Brand Rating 2014
15 20 Bradesco Brazil 12,385 AAA- 17% 1,785 10,600 AAA-
23 23 Itaú Brazil 9,021 AA+ -9% -883 9,904 AAA-
41 35 Banco do Brasil Brazil 6,549 AA+ -6% -423 6,972 AA+
50 49 Caixa Brazil 5,123 AA 8% 364 4,759 AA-
137 158 Grupo Bancolombia Colombia 1,256 AA+ 41% 366 890 AA
146 188 Banco de Bogotá Colombia 1,132 AA 60% 426 706 AA
164 192 Davivienda Colombia 952 AA+ 37% 258 694 AA-
179 161 Banco de Chile Chile 869 AA+ 1% 5 864 AA
202 207 Banco del Estado de Chile Chile 691 AA- 14% 85 606 AA
236 291 Banco CorpBanca Chile 527 AA- 41% 153 374 AA-
Brand Finance
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WAIVER CESSATION: Igbokwe urges NIMASA to evolve stronger collaboration with Ships owners

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…Stresses the need for timely disbursement of N44.6billion CVFF***

Highly revered Nigerian Maritime Lawyer, and Senior Advocate of Nigeria (SAN), Mike Igbokwe has urged the Nigeria Maritime Administration and safety Agency (NIMASA) to partner with ship owners and relevant association in the industry to evolving a more vibrant merchant shipping and cabotage trade regime.

Igbokwe gave the counsel during his paper presentation at the just concluded two-day stakeholders’ meeting on Cabotage waiver restrictions, organized by NIMASA.

“NIMASA and shipowners should develop merchant shipping including cabotage trade. A good start is to partner with the relevant associations in this field, such as the Nigeria Indigenous Shipowners Association (NISA), Shipowners Association of Nigeria (SOAN), Oil Trade Group & Maritime Trade Group of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

“A cursory look at their vision, mission and objectives, show that they are willing to improve the maritime sector, not just for their members but for stakeholders in the maritime economy and the country”.

Adding that it is of utmost importance for NIMASA to have a through briefing and regular consultation with ships owners, in other to have insight on the challenges facing the ship owners.

“It is of utmost importance for NIMASA to have a thorough briefing and regular consultations with shipowners, to receive insight on the challenges they face, and how the Agency can assist in solving them and encouraging them to invest and participate in the maritime sector, for its development. 

“NIMASA should see them as partners in progress because, if they do not invest in buying ships and registering them in Nigeria, there would be no Nigerian-owned ships in its Register and NIMASA would be unable to discharge its main objective.

The Maritime lawyer also urged NIMASA  to disburse the Cabotage Vessel Financing Fund (CVFF)that currently stands at about N44.6 billion.

“Lest it be forgotten, what is on the lips of almost every shipowner, is the need to disburse the Cabotage Vessel Financing Fund (the CVFF’), which was established by the Coastal and Inland Shipping Act, 2003. It was established to promote the development of indigenous ship acquisition capacity, by providing financial assistance to Nigerian citizens and shipping companies wholly owned by Nigerian operating in the domestic coastal shipping, to purchase and maintain vessels and build shipping capacity. 

“Research shows that this fund has grown to about N44.6billion; and that due to its non-disbursement, financial institutions have repossessed some vessels, resulting in a 43% reduction of the number of operational indigenous shipping companies in Nigeria, in the past few years. 

“Without beating around the bush, to promote indigenous maritime development, prompt action must be taken by NIMASA to commence the disbursement of this Fund to qualified shipowners pursuant to the extant Cabotage Vessel Financing Fund (“CVFF”) Regulations.

Mike Igbokwe (SAN)

“Indeed, as part of its statutory functions, NIMASA is to enforce and administer the provisions of the Cabotage Act 2003 and develop and implement policies and programmes which will facilitate the growth of local capacity in ownership, manning and construction of ships and other maritime infrastructure. Disbursing the CVFF is one of the ways NIMASA can fulfill this mandate.

“To assist in this task, there must be collaboration between NIMASA, financial institutions, the Minister of Transportation, as contained in the CVFF Regulations that are yet to be implemented”, the legal guru highlighted further. 

He urged the agency to create the right environment for its stakeholders to build on and engender the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders.

“Lastly, which is the main reason why we are all here, cessation of ministerial waivers on some cabotage requirements, which I believe is worth applause in favour of NIMASA. 

“This is because it appears that the readiness to obtain/grant waivers had made some of the vessels and their owners engaged in cabotage trade, to become complacent and indifferent in quickly ensuring that they updated their capacities, so as not to require the waivers. 

“The cessation of waivers is a way of forcing the relevant stakeholders of the maritime sector, to find workable solutions within, for maritime development and fill the gaps in the local capacities in 100% Nigerian crewing, ship ownership, and ship building, that had necessitated the existence of the waivers since about 15 years ago, when the Cabotage Act came into being. 

“However, NIMASA must ensure that the right environment is provided for its stakeholders to build and possess the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders. Or better still, that they are solved within the next 5 years of its intention to stop granting waivers”, he further explained. 

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Breaking News: The Funeral Rites of Matriarch C. Ogbeifun is Live

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The Burial Ceremony of Engr. Greg Ogbeifun’s mother is live. Watch on the website: www.maritimefirstnewspaper.com and on Youtube: Maritimefirst Newspaper.

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Wind Farm Vessel Collision Leaves 15 Injured

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…As Valles Steamship Orders 112,000 dwt Tanker from South Korea***

A wind farm supply vessel and a cargo ship collided in the Baltic Sea on Tuesday leaving 15 injured.

The Cyprus-flagged 80-meter general cargo ship Raba collided with Denmark-flagged 31-meter wind farm supply vessel World Bora near Rügen Island, about three nautical miles off the coast of Hamburg. 

Many of those injured were service engineers on the wind farm vessel, and 10 were seriously hurt. 

They were headed to Iberdrola’s 350MW Wikinger wind farm. Nine of the people on board the World Bora were employees of Siemens Gamesa, two were employees of Iberdrola and four were crew.

The cause of the incident is not yet known, and no pollution has been reported.

After the collision, the two ships were able to proceed to Rügen under their own power, and the injured were then taken to hospital. 

Lifeboat crews from the German Maritime Search and Rescue Service tended to them prior to their transport to hospital via ambulance and helicopter.

“Iberdrola wishes to thank the rescue services for their diligence and professionalism,” the company said in a statement.

In the meantime, the Hong Kong-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering.

Sumitomo is to deliver the Aframax to Valles Steamship by the end of 2020, according to data provided by Asiasis.

The newbuild Aframax will join seven other Aframaxes in Valles Steamship’s fleet. Other ships operated by the company include Panamax bulkers and medium and long range product tankers.

The company’s most-recently delivered unit is the 114,426 dwt Aframax tanker Seagalaxy. The naming and delivery of the tanker took place in February 2019, at Namura Shipbuilding’s yard in Japan.

Maritime Executive with additional report from World Maritime News

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