SINGAPORE: Singapore’s largest bank, DBS, has been named the most valuable Singaporean brand for the 11th consecutive year. The financial institution’s brand value rose by 5% to reach US$11 billion, solidifying its position at the top of the annual list by Brand Finance.
Brand Finance, a global brand valuation consultancy, also noted that DBS’s brand strength improved by 1.6 points, achieving a score of 88.0 out of 100 and maintaining its prestigious AAA rating. The company’s consistent performance in areas such as customer service, marketing, data security, and value for money played a significant role in its high ranking.
“DBS has shown significant growth in research metrics on customer service and marketing efforts, as well as good scores on metrics pertaining to perceptions of its data security and value for money,” stated the Brand Finance report.
Right behind DBS is Marina Bay Sands (MBS), with a brand value of US$6.2 billion. Although MBS is second in brand value, its brand strength leads the pack with a score of 91.8, earning an AAA+ ranking.
In third place is United Overseas Bank (UOB), which saw a 2% increase in brand value, reaching US$5.6 billion. UOB’s brand strength also improved by 0.5 points to 80.5, preserving its AAA- rating. The report highlights UOB’s robust perception in data security and marketing efforts.
Further down the list, Oversea-Chinese Banking Corporation (OCBC Bank) holds fourth place with a brand value of US$5.0 billion. In fifth place is Singtel, valued at US$4.0 billion.
Rounding out the top 10 brands in Singapore, in order of value, are Great Eastern (US$3.5 billion), Singapore Airlines (US$2.2 billion), Lazada (US$2.1 billion), Olam (US$1.6 billion), and Tiger Beer (US$1.5 billion).
/TISG
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