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Brand Finance Global 500: DBS leads the charge of Singaporean brands

22 January 2025
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Latest report highlights DBS, OCBC, and UOB’s rising influence, reinforcing Singapore’s position as a global financial powerhouse

  • DBS brand value rises by 56% to $17.2 billion
  • OCBC Bank’s brand value up by 28% to $6.4 billion in the Global 500 ranking
  • UOB reaffirms its presence in the prestigious global rankings with a brand value of $6.1 billion
  • Marina Bay Sands ranks as the fourth strongest brand globally, exemplifies leisure and tourism excellence
  • Apple is once again the world’s most valuable brand, with Microsoft and Google claiming 2nd and 3rd

SINGAPORE, 22 January 2025 – DBS (brand value up 56% to USD17.2 billion) leads the charge of four brands from the nation featured among the world’s 500 most valuable brands. Moving up the ranks by 71 spots to place 122nd this year, the banking brand has also retained its AAA brand strength rating, according to a new report from Brand Finance, the world's leading brand valuation consultancy.

Brand Finance’s market research shows that DBS’ brand value growth is driven by higher net interest income, increased card fees, and gains in wealth management and loan-related income.

OCBC Bank (brand value up 28% to USD6.4 billion) has maintained a strong position in the global rankings for over a decade. The brand climbed 109 positions in the global rankings, reaching the 374th spot. This growth was driven by an increase in its interest income, supported by higher assets and improved returns on loans. With a presence in Malaysia, Indonesia, and China, OCBC continues to expand its regional footprint, offering personalised banking services across these key markets.

UOB (brand value up 9% to USD6.1 billion) joins DBS and OCBC in the global rankings, representing the Singaporean banking brands. The bank offers retail services across Malaysia, Indonesia, Thailand, and Vietnam, bolstered by its recent acquisition of Citigroup’s consumer banking businesses. UOB’s growth and strategic expansions reinforce its position as a strong player in Southeast Asian banking.

Marina Bay Sands (brand value down 4% to USD5.9 billion) retains its position as the fourth strongest brand globally and as Singapore’s strongest brand in the Brand Finance Global 500 2025 ranking. Recording a strong Brand Strength Index (BSI) score of 94 out of 100, it remains a cornerstone of Singapore’s tourism sector, drawing millions of visitors and sustaining its global prominence. With its AAA+ brand strength rating, it highlights the brand’s legacy of innovation and customer trust.

Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented: 

"DBS continues to set the standard for Singapore’s financial sector, showcasing remarkable growth and innovation that reinforce its position as a global leader. Alongside DBS, OCBC and UOB have demonstrated consistent strength, further cementing Singapore’s reputation as a hub of excellence in banking. Marina Bay Sands also stands out as a global icon, maintaining its position as one of the world’s strongest brands and a cornerstone of Singapore’s tourism sector. Together, these brands highlight the nation’s ability to innovate, lead, and make a significant impact on the global stage.”

Global Insights: Apple, Microsoft, and e& Lead the Charge

The strong performance of ASEAN brands aligns with global trends highlighted in the Brand Finance Global 500 2025 ranking. Apple is once again the world’s most valuable brand, with its brand value rising 11% to USD574.5 billion. This growth keeps Apple ahead of its closest rival, Microsoft, whose brand value grew 35% to USD461 billion. Except for 2023, when Apple briefly trailed Amazon by a margin of just 1%, it has held the top spot as the world’s most valuable brand since 2021. Google, the world’s third most valuable brand, saw its brand value increase by 24% to USD413 billion. Ongoing investments in AI have enhanced Google’sreputation for innovation whilestrengthening its consumer appeal and trust.

Meanwhile, e& recorded a staggering 701% growth in brand value, reaching USD15.3 billion, driven by a unified brand identity and global expansion. WeChat retained its title as the world’s strongest brand, achieving an unrivalled brand strength index score of 95.2 out of 100.

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Media Contacts

Gayathri Saravana Kumar
Marketing Director - Asia Pacific
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.

Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.

In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.

Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.

Disclaimer

Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

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