Finance Banking Rank 2022
Credit by https://gratanet.com

The world’s banking brands have changed the flow on brand reduction for the first time in these three recent years, observing a 9% growth of year-on-year brand value to gain an all-time high of US$1.38 trillion, based on the latest report by Brand Finance published in The Banker magazine today.

Every year, 5,000 of the biggest brands are put by Brand Finance which is the leading brand valuation consultancy to the test. Almost a 100 reports are also published to rank the brands across all countries and sectors. Later, the world’s top most valuable and powerful banking brands are ranked in the annual Brand Finance Banking Ranking.

In the beginning of 2020, the brand value of the world’s largest banks reduced by 2% and 4% by 2021. Due to the uncertain economic situation and interest rate movements, the pandemic impaired the situation. This way, the pandemic looked at the profit and interest rates to take a hit.

However, nations around the world kept trying to adapt to Covid-19 and economies recovered in the past few years, making loan loss provisions was no longer significant than the initial forecast performed by industry experts.

Chinese Banks Dominate The Rank

Chinese banks dominate the rank by maintaining the lead in the Brand Finance Banking especially in 2022 ranking. It is accounting for one third of total brand value and worth a growing US$454.4 billion. While there were some drops of the global counterparts, Chinese banks are still largely invulnerable to these issues.

A significant factor to the Chinese Banks success was both the nation’s timely response to the virus and the early and on-going investment into digital development. This allows Chinese banks to go on engaging with their customer regardless the small interruption.

In the past few years, China’s economy kept recovering steadily no matter the complex and ever-changing domestic and international environment.

US Banks

In the Brand Finance Banking 2022. US banks account for nearly a quarter of the total brand value, worth a cumulative brand value of US$313.7 billion. Out of 76 brands, Bank of America (up to 12% to US$36.6 billion, Citi up to 7% to US$34.4 billion, Chase up to 5% to US$30.1 billion, Wells Fergo down to 6% to US$30.1 billion and JP Morgan up to 23% to US$28.9 billion.

Regional Leaders

When looking beyond East Asia and North America, HSBC is the most valuable banking brand in Europe while Singapore’s DBS becomes the leader in Southeast Asia. QNB is consolidated its position as the most valuable banking brand in the Middle East and Africa.

Ambitious Climbers in Smaller Markets

Based on an overall brand value growth of 48%, Vietnam’s banking sector is one of the quickest growing in the world. All Vietnamese brands in the Brand Finance Banking 2022 ranking have had a growth experience as new entrants.

Among the brands, MBBank is one of the fastest-growing in the Brand Finance Banking 2022 rank. This banking brand is up by staggering 113% to US$642 million. It keeps innovating especially in the digital space by building a partnership with Software AG and leading tech company to offer high speed online services.

Previous articleAutomotive Industry Trends 2022 Doubling Down Electric and Connected Cars
Next articleBody Language Expert Explained Amber’s Heard Expression And Gestures In Her Testimony

LEAVE A REPLY

Please enter your comment!
Please enter your name here