Brand Finance Global 500 shows banks “trying harder”
Banks were the most improved sector in this year’s Brand Finance Global 500 list, despite being shrouded in controversy over the past financial year.
The annual list, which studies the value of a brand against its financial performance, shows that banks have made conscious efforts to improve the credentials of their brands following the doom and gloom of the global recession.
HSBC is the leading bank in eighth place, increasing its brand value by 15% to $28bn (£18bn), while Santander’s increased 20% to $25.5bn (£16.3bn) in 12th place.
Keith Moor, Santander’s UK brand director, says the recession cut “arrogant banks” down to size, and Santander was focusing on “developing propositions to build relationships with customers”.
