Brand value of world’s top banks drops for 2nd year in row

SourceArab News
SectorFinancial Services
CountryMiddle east

Tough economic conditions have seen the brand value of the world’s banks decrease for the second year in a row, according to the latest report by consultancy firm Brand Finance. The annual report found that nearly two-thirds of the world’s 500 most valuable banking brands have recorded brand value losses in the last 12 months. The Brand Finance Banking 500 recorded an increase of 10 percent in the total value of all the brands analyzed in 2018. The following year the value rose another 15 percent, but in the 2020 report it was down 2 percent. In this year’s report, covering the period during the coronavirus pandemic, the total value was down 4 percent to $1.27 trillion. more...