ANZ awarded 'best brand'

The latest Banker/Brand Finance Banking 500 Report found all of Australia’s banks have improved their brand value over the past 12 months.

ANZ was identified as having the “most valuable banking brand” of all the Australian banks, claiming 39th position on the list.

Overall, 12 Australian banks were named on the list, with the Commonwealth Bank of Australia claiming the second highest Australian spot and 44th on the international list.

National Australia Bank was right behind, securing 45th position overall, while Westpac came in at 53rd.

In overseas markets, Wells Fargo overtook HSBC to become the world’s most valuable banking brand in 2013, whilst Chase rose from fifth to second.

European banks are struggling to emerge strongly from the economic uncertainty of the past four years and the continuing troubles of the Eurozone hinder any progress.

The Brand Finance table underlines this as there are only five European banks in the top 20 banking brands, with North American and Far Eastern banks making up the top 10.

On releasing the results, Brand Finance chief executive David Haigh said this year’s results suggest that globally the banking crisis is nearly over as both brand ratings and values are rising.

“While UK banks continue to lag the global recovery in both reputation and brand value, Australian banks are increasing their brand value,” he said.