Banca Transilvania named world’s 3rd strongest banking brand in latest ranking

Chinese brands hold onto top four most valuable spots in new Banking 500 ranking by Brand Finance

• Banca Transilvania is the world’s 3^rd strongest banking brand in 2024
• Romanian banks BRD and BCR are also present in Banking 500, with BCR going up 20 places in the overall ranking
• Chinese banking brands recover in value, holding on to top four most valuable banking brands spots and increasing in brand value
• Local banking brands prove stronger than global brands: Indonesia’s BCA is ranked the world’s strongest banking brand and regional African players report high scores for brand strength
• Brand values of Russian banks continue to plummet

[6^th March 2024, BUCHAREST] – Banca Transilvania has impressively jumped from being the 7^th to the 3^rd strongest banking brand in the world in 2024, according to a new report from Brand Finance, the world’s leading brand valuation consultancy. The Romanian banking brand now commands an exceptional brand strength index (BSI) score of 92.3/100.

Banca Transilvania has also jumped up 44 places in the overall ranking – up to 252^nd place –, increasing its brand value by 34% to USD686.5 million. This growth is down to robust financial performance, while the bank’s commitment to digital transformation has bolstered its operational efficiency and enhanced customer satisfaction. In a tough economic climate, these factors have propelled Banca Transilvania’s brand value and strength.

Mihai Bogdan, Managing Director, Brand Finance Romania, commented,

“In turbulent economic times, Banca Transilvania has solidified its position as a financial powerhouse in the region. This is evidenced by its exceptional jump in this year’s Brand Finance Banking 500 ranking, in which Banca Transilvania is now named the 3^rd strongest banking brand globally. In addition to improving the quality of its service offerings and enhancing satisfaction amongst its rapidly growing consumer base, the brand’s path toward digital transformation proves its ability to adapt and thrive in an ever-evolving landscape, which has been integral to the growth of its brand strength.”

Furthermore, Romanian banks BRD and BCR are also making this year’s ranking, albeit with opposite evolution; while BRD is going down 6 places to 463^rd position (brand value USD224 million), BCR is going up 20 places to 466^th, with brand value up to USD222 million, also increasing its brand strength index by 2.7%.

Overall, the combined value of the world’s top 500 most valuable banking brands has reached a record level of USD1.44 trillion, almost double what it was a decade ago.

The Chinese banking sector demonstrates a notable recovery, with the ‘big four’ banks remaining well ahead of their US counterparts. ICBC (Industrial and Commercial Bank of China) maintains its position as the world’s most valuable banking brand for the eighth consecutive year, boasting a 3% rise in brand value to USD71.8 billion. China Construction Bank, Agricultural Bank of China, and Bank of China secure second, third, and fourth positions respectively, following single-digit percentage increases in each of their brand values.

Despite experiencing a minor decline (4%) in brand value, Bank of America retains the title as the leading US banking brand for the fourth consecutive year, and is ranked fifth position overall, boasting a value of USD37.3 billion. Meanwhile, Wells Fargo, positioned sixth overall, is narrowing the margin with its American competitor, marking a 9% increase to achieve a brand value of USD35.8 billion.

David Haigh, Chairman & CEO, Brand Finance commented:

„As the world’s top banking brands reach new heights, China’s mega-banks continue to dominate at the top of the brand value ranking. Another key insight from our 2024 data is that local banks increasingly outshine their larger counterparts in brand strength. Dominant brands thrive in singular markets with limited competition, while banks expanding into multiple markets may successfully augment their brand value but risk diluting brand strength.”

Brand Finance’s research indicates that local and regional banks are performing as well as – and, in many cases, outperforming – global banks in terms of positioning their brand in the hearts and minds of customers. Indonesia’s BCA is the world’s strongest banking brand with a Brand Strength Index score of 93.8/100 and elite AAA+ rating. Three African brands, Equity Bank, First National Bank, and Kenya Commercial Bank, as well as Romanian Banca Transylvania all rank amongst top 5 strongest brands globally, earning AAA+ ratings.

Only 11 of the top 50 countries experienced decreases in aggregate value, led by Russia (69%), Nigeria (28%) and Malaysia (20%). Unsurprisingly due the international sanctions imposed on Russia, the country’s two largest brands – Sber and VTB – figure at the top of the fallers in brand value by percentage, with 91% and 63% plunges, respectively.

Note to Editors

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The world’s top 500 most valuable and strongest Banking brands are included in the Brand Finance Banking 2024 ranking.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.

The full ranking, additional insights, charts, more information about the methodology, and definitions of key terms are available in the Brand Finance Banking 500 2024 ranking.