HSBC Tops In Banking,
According To The Banker magazine
HSBC has retained its place as the most
valuable banking brand in the world. This is
the third year in a row The Banker magazine
and Brand Finance have awarded the
self-styled “World's Local Bank” the title.
The giant has increased its brand value by
12% to 28.5 billion US dollars.
The result was published in an annual review
which shows the banking sector is starting
to recover. It looked at the world's 500
most valuable banking groups and measures
them by both their brand strength and value
as of 31 December 2009.
David Haigh from Brand Finance told Sky
News: “HSBC is very good at the basics, you
know. It's extremely down to earth,
delivering very good product, very good
service and it has a tremendous advertising
campaign.”
Bank of America is the second most valuable
banking brand and Santander is the world's
fastest growing retail bank brand, coming
third overall.
A significant factor in the growth of the
Spanish brand value has been the
consolidation of Abbey, Alliance & Leicester
and Bradford & Bingley brands.
US dominance of the global banking industry
has declined with a drop in the number of US
banks in the Global Top 500, down from 95 in
2008 to 85 in 2009.
Brian Caplen, editor of The Banker said: “In
the wake of the financial crisis, banks are
approaching the issue of branding with
renewed vigour.
”However this cannot be a short-term
project. What The Banker's brand ranking
shows is that successful banks such as HSBC
and Santander work at getting all the parts
of the operation to work in favour of the
branding”.
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Banco HSBC (Costa Rica) S.A. operates around 40 branches throughout the major cities. HSBC entered Costa Rica in the summer of 2007; it was introduced under the promotional campaign "HSBC is the new name of BANEX". HSBC acquired Banex and has assumed operations in all of its branches.
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