Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on January 29, 2019

KUALA LUMPUR: Maybank has made it into the world’s top 500 brands for the first time, after it was named in Brand Finance’s Global 500 Brands — the only Malaysian bank and one of two Malaysian brands to be included in this prestigious listing.

In a statement yesterday, Maybank said it achieved a brand valuation of US$4.2 billion (RM17.27 billion), a 32% increase from last year’s valuation of US$3.16 billion. Maybank said it also maintained its position as the top bank brand in Malaysia for the fifth year running, improving its previous rating of AAA- to AAA, and recording an increase in Brand Strength Index (BSI) to 86/100 this year from 82/100 previously.

BSI is a key driver that contributes to brand valuation and determines the strength of a brand. The steady performance was also replicated at the regional level as Maybank was among only eight Asean brands listed in the global ranking.

The bank was placed 494 in the world’s top 500 most valuable brands list.

Its  group president and chief executive officer Datuk Abdul Farid Alias (pic) said the recognition was a reflection of the bank’s sustained efforts in building closer relationships with its stakeholders and focusing on delivering consistent value through all its products and services.

“We believe it demonstrates how a homegrown brand from Malaysia is defining new standards and raising the bar in the global stage with support from all its stakeholders,” he said.

He  said the bank’s strategy in developing a meaningful brand experience is centred on its mission to humanise financial services, as well as its commitment to being at the heart of communities where it operates.

 Meanwhile, Brand Finance Asia Pacific managing director Samir Dixit said regional banks like Maybank had started to threaten some of the established global players and are now competing with the best in the world when it comes to global brand strength and global recognition.

“The Maybank brand has been growing from strength to strength over the years and this milestone achievement is a great reward for their concentrated brand management efforts over the years.

      Print
      Text Size
      Share