HSBC Bank remains world's most valuable financial brand
Tuesday, 24 March 2009
The global financial crisis has taken a heavy toll on banks' brand valuations, yet HSBC is still the world's most valuable financial services brand.
The Bank has retained its top rank on the Global Banking 500, a review of the top financial services brands in the world measured by both brand strength and brand value conducted by UK-based agency Brand Finance.
The world's top 500 banks lost brand value worth US$218.1 billion, a 32% drop over the past year, while their market capitalisation slumped by US$3.9 trillion, or 51%, according to the global survey.
HSBC's brand value fell to US$25.4 billion, although the Bank benefited from a global reach that helped offset its exposure to the credit crisis.
"Brand Finance is pleased to credit HSBC with our highest brand rating of AAA+. HSBC took a disjointed portfolio of local brands and created the dominant global banking brand. The HSBC brand is strong because it delivers a differentiated customer experience in each market - hence its ubiquitous strap-line, 'The world's local bank'. Branding is more than skin deep and HSBC proves the point," said David Haigh, the chief executive of Brand Finance.
"I welcome the Brand Finance report's findings that HSBC is the only AAA+ ranked brand in financial services and is the most valuable financial services brand in the world. In these difficult times, values are more important than ever to our customers and they want a bank that they can trust," said Alex Hungate, Group Managing Director, Personal Financial Services and Marketing.
At HSBC, we believe that by recognising and understanding our customers' values and priorities in life, we can better serve them," Alex added.
The Bank has retained its top rank on the Global Banking 500, a review of the top financial services brands in the world measured by both brand strength and brand value conducted by UK-based agency Brand Finance.
The world's top 500 banks lost brand value worth US$218.1 billion, a 32% drop over the past year, while their market capitalisation slumped by US$3.9 trillion, or 51%, according to the global survey.
HSBC's brand value fell to US$25.4 billion, although the Bank benefited from a global reach that helped offset its exposure to the credit crisis.
"Brand Finance is pleased to credit HSBC with our highest brand rating of AAA+. HSBC took a disjointed portfolio of local brands and created the dominant global banking brand. The HSBC brand is strong because it delivers a differentiated customer experience in each market - hence its ubiquitous strap-line, 'The world's local bank'. Branding is more than skin deep and HSBC proves the point," said David Haigh, the chief executive of Brand Finance.
"I welcome the Brand Finance report's findings that HSBC is the only AAA+ ranked brand in financial services and is the most valuable financial services brand in the world. In these difficult times, values are more important than ever to our customers and they want a bank that they can trust," said Alex Hungate, Group Managing Director, Personal Financial Services and Marketing.
At HSBC, we believe that by recognising and understanding our customers' values and priorities in life, we can better serve them," Alex added.