DBS named most valuable bank brand in Singapore and ASEAN

Also one of top 10 in Asia.

DBS Bank has been ranked as Singapore’s most valuable banking brand and as the top banking brand in ASEAN, and also one of the top 10 banking brands in Asia by the latest The Banker/BrandFinance Banking 500 study.

It was also revealed that DBS’ exceptional growth in brand value allowed the bank to maintain its leading position in Singapore and ASEAN while improving its global ranking by four places from 58th to 54th place.

“DBS leads the pack for another year with a brand value of USD 4.01 billion. This is up 15.3% on 2013, an increase of over half a billion dollars. This puts DBS just outside the global top 50, but with such impressive growth it is likely to break into the prestigious top 50 group next year. DBS is in a strong position to be in the top 50 banking brands globally and challenge some of the Australian banks," said Samir Dixit, Managing Director of BrandFinance Asia Pacific.

"As earnings remain threatened in the ASEAN region including Singapore, the strength of bank brands will be tested significantly in 2014. Also, constant downgrades to GDP estimates coupled with the slowdown in mortgages will likely create some business downside in the next few quarters. This is where a strong brand will play a significant role to help retain customers, reduce churn, build customer confidence and improve profitability," he added.

BrandFinance noted that even with just three banks on the global 500 rankings, banks from Singapore represented the greatest total brand value of any ASEAN country, with a combined brand value of USD 8.5 billion, an increase of 17% on last year’s total of USD 7.3 billion. DBS contributed to almost half of the 2014 value.

Said Karen Ngui, Head of Group Strategic Marketing & Communications at DBS Bank, “DBS is honoured to be recognised as the most valuable bank brand in Singapore yet again. It is heartening to note that our brand value now exceeds USD 4 billion and that we are also the most valuable bank brand in ASEAN. We remain committed to shaping the future of banking and redefining the customer experience, as we execute on strategy and make significant strides in Singapore and across the region.”

The Banker/BrandFinance Banking 500 is an annual study conducted by BrandFinance, the world’s leading brand valuation consultancy, and published in ‘The Banker’ magazine. In the study, the world’s biggest banks are ranked by their brand value, with the results reflecting industry trends and indicating future developments.