Published on 04.02.2013
Wells Fargo replaces HSBC as the world’s most valuable brand in this year’s Top 500 Banking Brands ranking. Wells Fargo’s achievement demonstrates the improved standing of US banks as they recover from the financial crisis and forge ahead. Brand valuations have performed well across the board with total brand value rising 15% from $746.8bn in 2012 to $860.7bn this year, a new high and a big difference
from last year when the total fell from $855bn, the 2011 total.
Chinese banks also improved their collective result, as did all the top 10 countries with one notable exception. The UK saw its overall valuation drop as a result of brand value losses by leading players such as HSBC and Standard Chartered. Wells Fargo gained $2.8bn to give it a brand value of $26bn and so recovering some, but not all, of last year’s $5.7bn loss. And while 2012’s drop in value did not dislodge Wells Fargo from the second spot, this year’s increase was enough to give it the top position.