Tuesday, February 07, 2012 9:00 AM
Four Nigerian banks have been ranked among the best 500 brands in the world. The ranking which was done by a London-based company and published in The Banker named FirstBank of Nigeria Plc as the number one bank brand in Nigeria in its current Top 500 World Bank Brands Ranking.
According to the Brand Finance ranking, FirstBank has the highest brand value in Nigeria at $170 million and is closely followed by Guaranty Trust Bank with $169 million. Zenith Bank has a brand value of $147 million with United Bank for Africa having a brand value of $121 million. The banks’ brands also did Nigeria proud as the country is among the World’s Top 50 by Total Brand Value by Country.
Nigeria leads the continent outside of Southern Africa. South Africa has a total brand value of $8,207 million followed by Nigeria’s $607 million with Morocco completing the Africa representation with $463 million.
According to a release by the Country Representative, Nigeria, The Banker, Mr. Kunle Ogedengbe, the publication that carried out the ranking in association with Brand Finance, First Bank came top amongst the Nigerian banks and was joined in the ranking by Guaranty Trust Bank, Zenith Bank and United Bank for Africa.
Apart from the four, no other Nigerian bank made the ranking.
The top ten bank brands in the world remain in Europe, Americas and Asia. The number one bank brand in the world is HSBC, domiciled in the United Kingdom. It is followed by Wells Fargo, Bank of America (both from the USA), Santander (Spain), Citi, American Express (both from the USA), BNP Paribas (France), Bradesco (Brazil) and China Construction Bank (China).