HSBC has been named as the world’s most valuable banking brand by The Banker magazine. The magazine’s Top 500 Financial Brands listing also gave HSBC the only triple ‘A’ brand rating of any bank . Last year’s most valuable banking brand Citigroup fell a place to second, despite sizeable write downs in the wake of the credit crisis, whilst the Bank of America enjoyed a respectable third place despite a testing year.
The listing also reflects the rapid economic growth in emerging markets such as Brazil, China, India and Russia . China’s growth has been particularly significant, with three Chinese banks named amongst the top 25, with the Industrial and Commercial Bank of China leading the way in 15th, China Construction Bank in 17th and the Bank of China in 22nd. Brazil, meanwhile, had three banks in 42nd, 45th and 53rd, Russia’s Sberband bank ranked 55th whilst the State Bank of India was 59th.
HSBC Named as World's Most Valuable Banking Brand
HSBC Named as World's Most Valuable Banking Brand
Wed, 27 Feb 2008
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