KUALA LUMPUR: Malayan Banking Bhd (Maybank) has being crowned the most valuable Malaysian bank brand, and among the top five Asean bank brands in the global brand rankings of the “Top 500 Banking Brands 2017”, published by the Global Brand Valuation and Strategy Consulting firm, Brand Finance.
Maybank is also the only Malaysian bank brand with an AAA brand strength rating, making it the strongest Malaysian bank brand.
According to Brand Finance’s survey, Maybank managed to nearly double its brand value lead over the second-placed Malaysian bank to US$654 million in 2017 from US$334 million in 2016.
In a statement, Maybank said it also experienced a strong and positive brand value growth of 24 per cent amid stiff competition from other Asean and global brands and gained 11 places to be ranked amongst the top 100 most valuable bank brands in the “Brand Finance Top 100 Global Banking Brands 2017” rankings.
The 20 per cent brand value increase, as compared to an almost unchanged market capitalisation, improved Maybank’s brand value to market cap ratio to 15 per cent, showing the importance of the brand and its ability to contribute to business success.
Maybank group president and chief executive officer Datuk Abdul Farid Alias said the recognition reflects the strong support from the Group’s stakeholders, as well as the significant equity the Maybank brand enjoys in the marketplace.
“This award also reaffirms the consistency of the brand experience that we endeavour to provide across our entire network, guided by Maybank’s unique mission of humanising financial services.
“In addition, it demonstrates the strong efforts, collaboration and support of Maybank employees who work diligently each day to deliver that unique and differentiated brand experience to all we come into contact with,” he said.
Brand Finance Asia Pacific managing director Samir Dixit said Malaysian bank brands are seen to be more competitive versus global banks, and are positioned to grow and expand into regional markets.
Samir said their crucial regional footprint is enabling good growth and helping establish their reputation with potential clients across the world.
“Maybank has been striving for the number one bank brand spot in Malaysia for some time, and it is good to see that their marketing and brand efforts are delivering on their agenda,” he said.