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Best banking brands of 2014

By Jeanine Skowronski · Bankrate.com
Wednesday, May 21, 2014
Posted: 10 am ET

Customers expect their bank to be more than just a bank. That's why HSBC, Citi and JPMorgan Chase top BrandZ's 2014 list of most valuable global banks, despite their well-documented legal woes over the past few years.

"Consumers are really looking for banks that aren't just a place to store your money," says Oscar Yuan, vice president of Millward Brown Optimor, which compiled the rankings. "They're looking for banks that are active and engaged in facilitating commerce."

10 most valuable global bank brands of 2014

Rank 2014 Brand Brand value 2014 ($M) Brand value change Rank 2013
1 HSBC 27,051 13% 1
2 Citibank 17,341 30% 2
3 JPMorgan Chase 12,356 28% 5
4 Santander 11,060 20% 6
5 ING Bank 9,771 29% 8
6 UBS 9,683 30% 9
7 Barclays 9,536 19% 7
8 BNP Paribas 9,453 N/A NEW
9 Standard Chartered Bank 9,150 -10% 4
10 Goldman Sachs 8,400 14% 10

10 most valuable regional bank brands of 2014

Rank 2014 Brand Brand value 2014 ($M) Brand value change Rank 2013
1 Wells Fargo 54,262 14% 1
2 ICBC 42,101 2% 2
3 China Construction Bank 25,008 -7% 3
4 RBC 22,620 13% 5
5 Commonwealth Bank of Australia 21,001 18% 7
6 TD 19,950 12% 6
7 ANZ 19,072 15% 8
8 Agricultural Bank of China 18,235 -9% 4
9 US Bank 14,926 N/A NEW
10 Bank of China 14,177 0% 9

Customers value brands that make their lives easier, he adds, so any financial institution "that facilitates person-to-person commerce in addition to person-to-institution commerce" is going to appeal to them.

Of course, trust continues to play a pivotal role in the financial services industry. Regional banks, led by Wells Fargo, outperformed global firms on brand value, largely because they've done a better job of fostering relationships following the financial crisis.

"There is a level of trust that consumers have with regional banks that they don't have with their global counterparts," Yuan says.

The BrandZ rankings, commissioned by WPP, are based on surveys of 2 million global consumers and a rigorous analysis of firms' financial performances.

Top technology companies like Google, Apple, IBM and Microsoft dominate the list's overall rankings, but the financial services industry has improved as a category year-over-year. Top performers include Visa (No. 7), MasterCard (No. 18), American Express (No. 24) and PayPal, which broke into the Top 100 for the first time at No. 97.

The payments processor's appearance on the list signifies that "tech is really playing a role in financial services, as well," Yuan says.

What do you value in a banking brand? Let us know in the comments below.

Follow me on Twitter: @JeanineSko.

 

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