Maybank Malaysia’s most valuable bank brand

Reuters pic

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has kept its pole position as the country’s most valuable bank brand, following a 24% year-on-year growth to US$3.16 billion (RM12.82 billion) this year, according to the latest Brand Finance report.

This compared with a brand value of US$2.54 billion (RM10.30 billion) in 2017, theedgemarkets.com reported.

In a statement today, Maybank said it has also maintained its AAA-rating and ranking as the strongest bank brand in Malaysia for the fourth year running.

The 2018 Brand Finance Banking 500 Brand Value Report, issued by Brand Finance, said Maybank continued to be among the top brands in Asean, coming in fifth.

It climbed to 83rd place from 90th in the world as the most valuable bank brand.

Maybank group president and chief executive officer Abdul Farid Alias attributed the achievements to the collective effort of the banking group’s employees in providing a consistent brand experience for customers around the world.

“Maybank’s mission to humanise financial services has been the linchpin of our success today. It has enabled us to build a network of champions, i.e. our employees – who are passionate in creating the next chapter of brand excitement for our customers.

“We will continue to ensure we remain relevant to our customers and delight them in their interactions through all touch points – be it at our front counters or via digital platforms,” he was quoted by theedgemarkets.com as saying.

Maybank scored 82 over 100 in terms of Brand Strength Index (BSI) this year, which is a key driver that contributes to brand valuation and determines the strength of a brand.

Maybank successfully maintained its BSI to be on par with Global Top 10’s average and ahead of Asean and Asia Top 10’s average.

Brand Finance is an annual survey that values the brands of thousands of the world’s biggest companies.

The results of this analysis are then ranked with the world’s 500 most valuable banking brands featured in the Brand Finance Banking 500.