5 NIGERIAN BANKS MAKE LIST OF WORLD’S TOP 500 BANKING BRANDS. WHERE WILL YOU PUT YOUR MONEY?

It is rather impressive that despite the economic hardship in the country, five (5) banks in Nigeria have been listed among the world’s top 500 banking brands.

The banks are:

First Bank of Nigeria Limited

Guaranty Trust Bank (GTB)

Zenith Bank

Access Bank; and

United Bank for Africa (UBA)

In the list, First bank led other Nigerian banks in the global ranking with a $357 million brand value. First bank was ranked 357.

GTB followed with a brand value of $258 million and was ranked 395.

Zenith Bank had a brand value of $247 million with a ranking of 414.

Access bank had a brand value of $182 million and was ranked 476.

Finally, United Bank for Africa had a brand value of $172 million and was ranked 487 in the world.

The ranking is believed to have been done in five steps which include obtaining brand specific financial and revenue data, modeling the market to identify the demand and position of the individual banks in the context of all other market competitions.

Brian Caplen, a banker who explained the ranking methodology, revealed that the Brand Finance employs a discounted cash flow technique to discount estimated royalties at an appropriate rate in order to have a not present value of a bank’s trademark and the intellectual property it has.

Thus, First Bank remains the most valuable banking brand in Nigeria according to this rating. It is also the only bank to fall within the top 10 banking brands in Africa. It will interest you to know that First Bank has been rated 6 consecutive times.