The Financial Times’ Banker Magazine and Brand Finance have published their list of the world’s 500 most valuable bank brands for 2017. The report puts a value on, and ranks bank’s trademark and associated intellectual property- that is, their brand names.
This year, five Nigerian banks made an appearance on the list, up from the three featured in the previous year’s list. The banks named, along with their global rankings and brand values, are shown below:
1. First Bank of Nigeria
The list has First Bank as 357th in the world, with a total brand value of $301 million- Nigeria’s most valuable and one of Africa’s top ten bank brands.
2. Guarantee Trust Bank
Ranked 395th in the world, GT Bank is Nigeria’s second most valuable bank brand. The report says its brand is worth $285 million.
3. Zenith Bank
Zenith Bank came in at 414, with a brand value of $247 million. It was one of three Nigerian banks which were also on the previous year’s list, the others being First Bbank and GT Bank.
4. Access Bank
Access Bank was new on the list. It was ranked 476th and had a $182 million valuation placed on its brand.
5. United Bank for Africa
UBA, the second new entrant to the list, was placed 487th, making it the fifth most valuable brand in Nigeria. Its brand value was put at $172 million.
The global top ten was dominated by banks from China and the United States- each represented by four banks – with one bank each from the United Kingdom and Spain making up the remainder. The Industrial and Commercial Bank of China came first with $47.832 billion; it displaced America’s Wells Fargo, which occupied the second spot in this year’s list.