Wells Fargo Named the USA’s Most Valuable Banking Brand
NEW YORK, February 1, 2012 /PRNewswire/ –
- Wells Fargo has been named as the USA's top banking brand despite being knocked off the top spot internationally by HSBC in the Brand Finance Banking 500. - Bank of America, Chase and Citi Bank rank in the Top 10 Banking brands globally. - American Express had an extremely successful year in 2011 after climbing from 13th to 7th place and now enters the Top 10 Banking Brands.
The Brand Finance Banking 500 report, released today, shows that Wells Fargo has been
named as the USA’s Most Valuable Banking Brand despite being beaten by British bank HSBC
as the world’s most valuable banking brand in 2012. The Wells Fargo banking brand has
maintained its place as the 2nd leading bank brand in the world and now the leading bank
brand in the USA as well as being valued at $23.23 billion.
Bank of America lost a staggering $11.166 million USD of brand value over the last
year and as a result lost its status as the world’s strongest banking brand. Bill Barker
of Brand Finance New York said “few banking brands want to emphasize investments or
mortgages as part of their brand equity as the Brand Finance Banking 500 study shows that
some of the worst performers were investment heavy Bank of America, Goldman Sachs and JP
There have been strong performances from both Citi Group and American Express in sixth
and seventh place respectively who have both jumped several places up the ranking. “With
five of the top 10 most valuable banking brands headquartered in North America, the USA is
clearly recovering from the financial crisis much faster than Europe,” said Elise Neils of
Brand Finance Chicago.
Commenting on this year’s report, David Haigh, CEO of Brand Finance, said: “The past
12 months have proved to be a very turbulent period for banking brands. We have seen a
collective decline in brand value amongst the 500 banks in our report of $94.78bn. Despite
this, the total value of the top 500 banking brands was US$746.7 billion. The size of this
number – which is equivalent to the GDP of Turkey – underlines the importance of brand
value to the global financial sector.”
“2012 is set to be a landmark year politically with the US election in November and
polls in Germany and France too. In this context the eyes of the world will be examining
the brand value of financial institutions, as an indicator of broader financial health of
their respective nations.”
The Brand Finance Banking 500 Top 10 Most Valuable Banking Brands in The USA
Global Global Brand Rank Brand Value Rating 2012 Rank 2011 Brand Domicile 2012 2012 2 2 Wells Fargo United States $23.23 billion AA+ 3 1 Bank of America United States $22.91 billion AA+ 5 5 Chase United States $18.96 billion AA+ 6 9 Citi United States $18.64 billion AA+ 7 13 American Express United States $18.23 billion AAA- 16 18 J.P. Morgan United States $11.60 billion AA+ 19 16 Goldman Sachs United States $9.33 billion AA+ 28 32 Visa United States $7.09 billion AAA- 29 29 Morgan Stanley United States $6.35 billion AA 35 45 Mastercard United States $5.18 billion AA+
The Brand Finance Banking 500 Top 20 Most Valuable Banking Brands
Rank Rank Brand Value Brand 2012 2011 Bank Country (USD) Rating 1 3 HSBC Britain $27.59 billion AAA 2 2 Wells Fargo United States $23.23 billion AA+ 3 1 Bank of America United States $22.91 billion AA+ 4 4 Santander Spain $19.97 billion AAA- 5 5 Chase United States $18.96 billion AA+ 6 9 Citi United States $18.64 billion AA+ 7 13 American Express United States $18.23 billion AAA- 8 12 BNP Paribas France $16.8 billion AA+ 9 6 Bradesco Brazil $15.69 billion AAA- 10 10 China Construction Bank China $15.46 billion AA 11 8 ICBC China $15.16 billion AA+ 12 7 Barclays Britain $13.55 billion AA+ 13 11 ItaÃº Brazil $13.17 billion AA 14 14 Deutsche Bank Germany $12.9 billion AA+ 15 17 Bank of China China $12.86 billion AA- 16 18 J.P. Morgan United States $11.6 billion AA+ 17 19 Sberbank Russia $10.77 billion AA+ 18 23 Agricultural Bank Of China China $9.93 billion A+ 19 16 Goldman Sachs United States $9.33 billion AA+ 20 28 Royal Bank Of Canada Canada $8.65 billion AA+
For the complete Brand Finance Banking 500 report and further information,
go to http://www.brandfinance.com
Notes for Editors
First published in 2006, the Brand Finance Banking 500 in association with The Banker
was the first publicly available study analysing the financial value of the world’s top
banking brands. It is published annually and incorporates data from all listed companies
globally. Each brand is accorded a brand rating: a benchmarking study of the strength,
risk and future potential of a brand relative to its competitor set as well as a brand
value: a summary measure of the financial strength of the brand.
The report analyses the market values of brands as intangible financial assets that
drive demand and build business relationships. Brand Finance uses the Royalty Relief
method to analyse the royalties that a corporation would have to pay to license its brand
if it did not own it, thus establishing the cost from which a bank is relieved through
owning its brand.
About Brand Finance
Brand Finance plc, the world’s leading brand valuation consultancy, advises strongly
branded organisations on maximising their brand value through effective management of
their brands and intangible assets. Founded in 1996, Brand Finance has performed thousands
of branded business, brand and intangible asset valuations worth trillions of dollars.
Its clients include international brand owners, tax authorities, Intellectual Property
lawyers and investment banks. Its work is frequently peer-reviewed by the big four audit
practices and its reports have been accepted by various regulatory bodies, including the
UK Takeover Panel.
Brand Finance is headquartered in London and has a network of international offices in
Amsterdam, Athens, Bangalore, Barcelona, Cape Town, Colombo, Dubai, Geneva, Helsinki, Hong
Kong, Istanbul, Lisbon, Madrid, Moscow, New York, Paris, Sao Paulo, Sydney, Singapore,
Toronto and Zagreb.
For further information, please visit our website: http://www.brandfinance.com
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SOURCE Brand Finance plc