Chinese banks see great brand value growth

15:57, February 22, 2010      

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"The Banker," a prestigious international financial affairs publication, released the latest "Global Financial 500" rankings February 21. Hong Kong and Shanghai Banking Corporation (HSBC) retained its place as the world's most valuable financial services brand with a brand value totaling 28.5 billion U.S. dollars, and the brand value of China's banking sector rose by 58 percent.

Aside from HSBC, Bank of America Corporation, Santander, Wells Fargo, National City Bank of New York, BNP Paribas, Goldman Sachs, JPMorgan Chase, Bradesco, and Barclays round off the top ten.

The banking sector has shown tangible signs of recovery according to the latest assessment, with the brand values of the world's top 500 banking groups up by 49 percent in 2009 reaching 716 billion U.S. dollars, and their market capitalization skyrocketing 62 percent accordingly.

The assessment also shows that U.S. dominance of the global banking industry is declining, while banking sectors in other emerging market countries are gradually increasing their sphere of influence in the global financial order. The brand value of U.S. banks listed in the 2009 "Global Financial 500" rose by only 29 percent, lower than 31 percent growth in Asia, 67 percent in Europe, 78 percent in the Middle East, and 84 percent in South America.

By People's Daily Online
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