Brand Finance logo

Sberbank extends lead as Russia’s top brand

15 August 2018
This article is more than 5 years old.

· Sberbank cements position as Russia’s most valuable brand with 18% growth and claims title of the country’s strongest brand with elite AAA+ rating

· Oil & Gas brands fill 4 of top 10 rankings as Gazprom, Lukoil, Rosneft and Tatneft vary in performance

· United Aircraft Corporation is Russia’s fastest-growing brand, up 62% from 2017

· Aeroflot defends title of the world’s strongest airline brand

View the full Brand Finance Russia 50 2018 report here

Sberbank’s brand value has surged by 18% to ₽670.4 billion, according to the latest report by Brand Finance, the world’s leading independent brand valuation and strategy consultancy. Sberbank’s remarkable performance further extended its lead as the most valuable Russian brand, worth more than twice as much as the second-ranked brand, Gazprom (brand value up 5% to ₽320.8 billion).

Sberbank’s brand value grew strongly on the back of encouraging performance in the domestic Russian market. The brand is also investing in future growth, as earlier this year it announced new plans to combat the threat from tech competitors. Digitalisation is an important emerging trend in modern banking and Sberbank’s investment in blockchain indicates its intent to operate in that space with confidence and proficiency.

In addition to measuring overall brand value, Brand Finance also evaluates the relative strength of brands, based on factors such as marketing investment, customer familiarity, staff satisfaction, and corporate reputation. Along with the level of revenues, brand strength is a crucial driver of brand value.

According to these criteria, Sberbank has claimed the title of Russia’s strongest brand this year, earning the elite AAA+ rating. It is now one of just two AAA+ banking brands in the world, alongside China’s ICBC bank. Sberbank’s brand strength performance has been driven by remarkably high brand equity amongst its customers and other key stakeholders in Russia. Brand Finance’s original market research found that, at 8.22 out of 10, Sberbank has earned the highest domestic reputation score from among all banking brands in the world.

David Haigh, CEO of Brand Finance, commented:

“Sberbank’s performance this year in both brand value and brand strength has been exemplary. The brand has solidified its pre-eminence in its key Russian markets, scoring exceptionally well in Brand Finance’s original consumer equity research that feeds into our valuations. As start-ups and tech ecosystems alike encroach on the financial services industry, Sberbank’s dominance as a brand will provide a solid foundation to adapt and thrive.”

Oil & Gas brands dominate
Oil & Gas remains the largest industry segment amongst Russia’s most valuable brands, accounting for over ₽1.1 trillion or 32% of the overall brand value in the Brand Finance Russia 50 2018 league table, ahead of the Banking sector representing 25% of the country’s total. It also claims four spots among the ranking’s top 10 most valuable brands. However, the leading Russian Oil & Gas brands each recorded very different results this year.

Gazprom (brand value up 5% to ₽320.8 billion) remained the second-most valuable Russian brand overall, with steady growth. Meanwhile, third-ranked Lukoil (brand value down 1% to ₽281.1 billion) lost a little brand value, while Rosneft (brand value up 13% to ₽203.9 billion) grew strongly in fourth place. Tatneft (brand value up 9% to ₽97.3 billion) improved to become the ninth-most valuable brand in Russia this year.

The Oil & Gas brand to experience the most significant brand value loss this year is Surgutneftegas (brand value down 56% to ₽59.8 billion). The brand fell out of the top 10 rankings, down from 6th place last year to 14th in 2018.

The fastest-growing brand in the sector this year is Transneft (brand value up 53% to ₽58.9 billion). The monopoly pipeline operator was able to leverage an expectation of increased future earnings, jumping from being the 25th most valuable brand of 2017 to 15th this year.

UAC is Russia’s fastest-growing brand
United Aircraft Corporation has achieved extremely rapid brand value growth, up 62% from 2017 to ₽38.6 billion this year, making it the fastest-growing brand in the league table. UAC increasingly unifies its brand positioning with key stakeholders. It is now the world’s highest-volume supplier of fixed-wing combat aircraft and has increased sales to many non-Western countries. UAC’s brand has grown strongly on forecasts of boosted sales to Iran, where American and European brands such as Boeing and Airbus have been forced to limit sales due to the geopolitical situation.

Aeroflot defends title of the world’s strongest airline brand

The national carrier Aeroflot has maintained its status as the world’s strongest airline brand with AAA brand rating driven by consistently strong equity with stakeholders, built up through investments in its brand and marketing promotion in the Russian and key international markets.

David Haigh, CEO of Brand Finance, commented:

“Aeroflot has invested heavily in its young fleet, delivering a superior product and customer experience among increasing expectations. This is complemented by marketing activities, especially in Asia, where Aeroflot’s sponsorship of Manchester United is paying strong returns to brand reputation.”

View the full list of Russia’s 50 most valuable brands here


Note to Editors

Every year, leading independent valuation and strategy consultancy Brand Finance values the world’s biggest brands. The 50 most valuable brands in Russia are included in the Brand Finance Russia 50 2018 league table.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is assessed through a balanced scorecard of factors (such as marketing investment, stakeholder equity, and business performance) and used to determine what proportion of a business’s revenue is contributed by the brand.

Additional insights, more information about the methodology, as well as definitions of key terms are available in the Brand Finance Russia 50 2018 report.

Brand Finance helped craft the internationally recognized standard on Brand Valuation – ISO 10668, and the recently approved standard on Brand Evaluation – ISO 20671.

Data compiled for the Brand Finance league tables and reports are provided for the benefit of the media and are not to be used for any commercial or technical purpose without written permission from Brand Finance.

Media Contacts

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 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 over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization 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.


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.

Get in Touch