In its annual evaluation of local brands, Brand Finance announced that Standard Bank had been named the most valuable banking brand in South Africa for the second year in a row.
Over a hundred reports ranking brands across all industries and countries are published annually by Brand Finance, which tests 5,000 of the largest brands. The annual Brand Finance SA 100 2023 ranking includes the best South African brands.
In 2023, Standard Bank’s brand value will be R29.7 billion, up 27%.
According to Brand Finance, After the pandemic, South African banking brands have experienced a strong recovery, allowing for impressive brand value growth. The area currently represents five brands in the main 10 of the positioning and is additionally the most significant area in the SA 100 2023 positioning, making up 24% of the absolute brand esteem. The 11 banking brands included in the ranking had a total brand value of R146.5 billion.
The CEO of Standard Bank SA, Lungisa Fuzile, states: We are pleased that we have been recognized in this manner among some of the biggest brands in South Africa. We share this appreciation with our employees and devoted clients, and we are thankful for their dedication and support.
He adds: ” To keep on driving as SA’s most significant financial brand affirms our job as public representative in the commitment to the more extensive African economy. We exist to make life easier for our clients by assisting them in saving, transacting, growing their wealth, growing their businesses, and protecting the things that matter most to them. Africa is our home, and we drive her growth. We are guided by our purpose.
“Looking ahead to 2023, we will continue to support sustainable growth and development in South Africa while providing excellent client service with a human touch and world-class digital infrastructure.”