SpareBank 1 first time appearance

The annual banking top 500 most valuable brands report by Brand Finance was published this week with SpareBank 1 making its debut appearance!  If you are not familiar with SpareBank 1, it is an alliance of 14 independent banks consisting of 300 offices across Norway that collaborate on a common platform and brand name.  

SpareBank 1 was not the only bank from Scandinavia that made the list. 
3 banks from Sweden, Nordea, Swedbank, and Svenska Handelsbanken, and one Norwegain Bank, DNB, made it into the top 100.  However, all 4 banks dropped ranking from last year at least 10 spots.  According to the report, the European banking system in general is struggling to grow due to a less active approach to the financial crisis. As a result, brand values have fallen and customer satisfaction is not as high as it used to be. 

As you may or may not predict, Chinas’ banks dominate the top 4 spots regardless of trade friction and currency concerns thanks to government support and a steadily growing middle class.  Below you will find a summary from the press release and a link to the full report: 

  • Led by ICBC as the world’s most valuable banking brand (US$79.8 billion), China’s banks dominate top four spots of the ranking
  • Chinese banks grow 28%, achieving US$407 billion in total brand value, over US$100 billion more than US banks
  • All US banks, with the exception of Wells Fargo (-9%), Chase (-7%), and BankUnited (-6%), improve their brand value
  • Growth of European banks is pedestrian, with German banks losing 24% of value, but Banca Mediolanum stands out as the fastest-growing brand in the world, up 82% year on year
  • Sberbank of Russia claims the title of the world’s strongest banking brand, with a score of 93.1 out of 100 and an AAA+ rating

Read or download the full report here.

*XY01 is the official Brand Finance partner for Scandinavia. Get in touch with us if you want to learn more about your brand value and brand strength, or if you want a tailored report for your specific brand.

Want to know more?

Get in touch with Haley Zerwas, Sr. Brand Management & Strategy Specialist