Indian banks fare poorly in brand value: study
As per a study, Indian banks, barring SBI and ICICI Bank, come a cropper in global stage when it comes to their brand value while their counterparts in China have fared better.india Updated: Feb 24, 2008 15:44 IST
Indian banks, barring SBI and ICICI Bank, come a cropper in global stage when it comes to their brand value while their counterparts in communist China have fared better, according to the findings of a study.
In a study by London-based consultancy Brand Finance, only two Indian banks -- the country's biggest lender State Bank of India and ICICI Bank, the largest in the private sector, figure among the top 100 global banking brands.
Compared to the Indian brands in top 100, three Chinese banks find a place in the top 25 brands.
"We have seen the emergence of powerful financial institutions from the Chinese market in the top 20 most valuable brands in the sector, indicating significant changes in the global financial market power base," Brand Finance, an independent brand consultancy said in its latest report.
The report, Global 500 Financial Brands Index, analyses the financial value of the world's top 500 banking brands. The study incorporates data from the world's largest 32 stock markets.
According to the study, State Bank of India has a brand value of $2,852 million while for the ICICI Bank it is $2,603 million.
The findings come out at a time when SBI's proposal to merge its associate banks with itself to attain global scale and size hangs in balance with employees union protesting the plans.
Industrial & Commercial Bank of China has a brand value of of $8,427 million, China Construction Bank is at $7,786 million, Bank of China ar USD 6,741 million, Bank of Communication $2,664 million. For China Merchants Bank, it is $1,794 million.