Industrial and Commerical Bank of China (ICBC)
is the most valuable financial institution brand in the world,
according to a study on the top 100 most valuable brands.

The sixth annual BrandZ Top 100 Most
Valuable Global Brands study by Millward Brown, a research
agency and part of communications group WWP, named ICBC as the
world’s most valuable financial institution brand – ahead of other,
well-known brands such as American Express, Citi, HSBC and
Santander.

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ICBC is already the world’s largest bank by
market cap.

Millward Brown estimated ICBC’s brand value at
$44.4bn.

According to the survey, the value of brands
in the global financial sector increased by 9% from the previous
year.

The global brands director at Millward Brown,
Peter Walshe, said that the ranking highlighted how consumer
sentiment for a financial institution impacts the value that brand
plays in driving business success in an increasingly competitive
market. 

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Other findings included:

  • Financial institutions do not seize the
    potential for better customer relationship management (CRM)
    provided by social media;
  • Social media can help financial institutions
     restore consumer trust;
  • Sberbank had a brand value of $8.5bn and was
    the first Russian bank to enter the rankings at number 99;
  • Wells Fargo’s brand value doubled to $36.9bn
    from the previous year’s rankings;
  • Banks focused their offers around attitudes
    and interests instead of income, with Citi marketing to a group it
    calls Generations Forward, for instance, and
  • Visa’s brand increased 15 percent to
    $28.6bn.

 

 

The Most Valuable
Global Financial Institution Brands 2011

Rank

Brand

Value in $ million

Brand Value change from
2010

1

ICBC

44,440

1%

2

Wells Fargo

36,876

97%

3

Visa

28,553

15%

4

China Construction Bank

25,524

22%

5

HSBC

22,587

-4%

6

Bank of China

17,530

-20%

7

RBC

17,182

3%

8

American Express

17,115

23%

9

TD*

16,931

19%

10

Agricultural Bank of China

16,909

n/a

 

* correction to TD’s
2010 value.  Brand value in 2010 is $14,202, not
$10,274.