Page 51 - BrandZ Top 100 Most Valuable Global Brands 2014

Section 03 | The Categories
Financial | Banks

Spotlight
Canada and Australia Slower growth impacts Action Points for Brand Building
Insight
show strength
China’s banks
Global bank brand 1. Set the bar high
3. Know your place

value growth lags Canada’s two largest banks, TD Bank Slower growth in China and other BRIC Formulate high standards and inspire the It could be global, regional or local.
Top 100 increase
Brands need to ix and Royal Bank of Canada (RBC), markets impacted the Chinese banks, organization to meet or exceed them. There’s a place for the global bank
experienced healthy business in 2013. which also contended with market
core issues before TD Bank grew net income despite reforms that pressured proits made from Customers appreciate performance more that meets the needs of international
Since the inception of the talking about values
pressure on its insurance business. RBC loans and pushed banks to look for fee- than apologies.
corporations and cosmopolitan
customers. And there’s a need for more
BrandZM Top 100 Most Valuable produced strong results, with its net based products.
2. Be ready when the bar falls
narrowly focused operations. But it’s
Global Brands in 2006, regional Six years after the crisis,
income up 12 percent.
dificult to be all things.
banks have experienced strong Several Internet companies, including Anticipate that problems from the past
brand value appreciation. In many major banks still have to The banks beneited from their signiicant Tencent, Baidu, and Alibaba disrupted will come back to impact the present.
contrast, brand value growth of announce multi-billion dollar operations outside of Canada. TD is one banking with applications that made it Hold your nerve. Be open. Make it right. 4. Be agile
provisions for the mistakes made
the global banks has lagged the in that period. The key question of the largest banks in the US, based
easy for consumers to keep some of their The past will pass and fade from the Competition has increased from outside
growth of the Global Top 100 is when will banks become truly on assets. It services more than eight savings in online accounts for higher public’s memory. Until another issue the category. A lot of other organizations
overall. Following the inancial million customers through its network
yields and make inancial transactions serves as a reminder. So no excuse
are looking to eat your lunch. Prepare for
crisis of 2008, as the Global Top sustainable again? The customer- of approximately 1,300 locations across with their mobile devices. China Mobile for complacency.
the new ways people will interact with
100 steadily improved in brand facing part is important, but the US. RBC operates in 46 countries. bought a stake in Shanghai Pudong their banks. Use technology effectively to
value and the regional banks banks need to deal with their A weakened Canadian dollar made the Development Bank to facilitate its entry meet customer needs.
capital base and other structural
experienced a sharp recovery, issues irst. Until a bank is banks’ strong US results even better.
into inancial services.
the brand values of global banks fundamentally sound, it can’t
luctuated. Both regional and The Australian banks prospered because ICBC, China’s largest lender, continued
global banks experienced an solve its long-term problems. The of the stability of Australia’s economy its traditional role of funding the projects
erosion of trust following the transition to sustainable inance and the proximity to the fast growing of State Owned Enterprises (SOEs),
is dificult because it means
inancial crisis, with trust in global slower growth, lower proits and markets of Asia. ANZ, Australia’s third- focusing a lot of activity in Western and
banks declining sharply, below is perceived as bad news for largest bank by market capitalization, Northeastern China. It also cultivated
the average score for all brands.
has grown through acquisition, having business among new, small business Insights: BrandZM BigData
shareholders in the short term.
purchased the operations of Royal Bank clients.
Global bank brand value of Scotland in six Asian countries.
Geoff Beattie
luctuates
Global Practice Leader Corporate Affairs Driven by slower growth at home, China Brands suffer from lack Regional banks are rated signiicantly
Cohn & Wolfe Commonwealth Bank of Australia Construction Bank, the nation’s second of trust and love
better by their customers, however we
400 geoff.beattie@cohnwolfe.com
enjoyed positive results based on rising largest state-owned bank, looked abroad still see an erosion of trust.
home prices and a robust mortgage for business, opening six overseas
300 business. It has over one million home branches, in Taipei, New Zealand, Russia, Global bank brands, even the Top 10, Trustworthy 104 (109)
loan customers. The bank’s range of Dubai, Osaka and Luxembourg. In China, attracted negative sentiment before
200
businesses includes retail, corporate and it moved into retail, opening an online the recession, and this dilemma has The contrast between the Top 10 regional
institutional clients. The bank operates shopping platform.
increased dramatically.
and Top 10 global brands is stark.
100
in Australia, New Zealand, Asia-Paciic Regional banks are more “meaningful”
and Europe.
Agricultural Bank of China accelerated its 2014 (2008)
(meeting the needs of their customers
2006 2008 2010 2012 2014
transition to a modern commercial bank with greater afinity) than global banks.
Arrogant 117 (109)
Trust and recommendation suffer
by improving the coordination between
its growing urban and international Meaningful
Dishonest 114 (105)
business and its base in China’s rural
110 communities. Already present in Asia, Uncaring 111 (104)
Regional 130
North America, and Australia, the bank
104
Global 92
101
received permission to open in Dubai.
Banks may be performing well inancially, Source: BrandZM database
92 The state-owned Bank of China is the but trust has shown dramatic erosion.
All brands average = 100
country’s most international bank, with
2012 2014
2008 2010
operations in 37 overseas countries. Trustworthy 94 (101)

Determined to build a global commercial
— Top 100
— Regional — Global
banking business, Bank of China
developed relationships with currency
trading exchanges in Asia and London.

Source: BrandZM data.
The brand value growth chart is based on an
index of 2006=100. The TrustR score is based
on an index of average brand score=100.
TrustR measures trust (how well a brand kept
its promise in the past) and recommendation
(how well the brand keeps its promise today).

100 BrandZM Top 100 Most Valuable Global Brands 2014
101