7 February 2013
South Africa’s Standard Bank has been voted Africa’s most valuable banking brand for the third consecutive year in the 2013 Global Top 500 Banking Brands report by valuation consultancy BrandFinance Banking.
The report, published by global magazine The Banker on 1 February, is in its eighth year and is recognised as the only direct comparison of brand value in the international banking industry.
Standard Bank consolidated its position as the leading brand on the continent through market capitalisation of US$12 250-million, a AA+ (very strong) brand rating, and brand worth $1 705-million.
This most recent accolade follows the bank’s placement on the Global 100 Most Sustainable Corporations in the World list, released during the World Economic Forum’s annual Davos meeting on 24 January.
“We are delighted that our brand continues to be recognised as the most valuable in Africa,” the Standard Bank Group’s deputy chief executive officer, Ben Kruger, said in a statement.
“This recognition is the result of many factors, the most important of which is the dedicated focus of our people and the service that they provide to our customers and clients in South Africa and the rest of Africa.”
Standard Bank currently has subsidiaries in 18 African countries.
“This ranking is a reflection of the value created in delivering what is important to our customers in different segments and markets, as we strongly believe that is what ultimately differentiates banks and builds value in a brand,” he said.
The bank ranked 103rd globally.