Maybank brand value up significantly to RM12.83bil

PETALING JAYA: Malayan Banking Bhd (Maybank) has maintained its position as the top bank brand in Malaysia, as its brand value increased 24% to US$3.16bil (RM12.83bil) compared with US$2.54bil in 2017.

The country’s largest bank by assets said in a statement that the increase in brand value was based on the 2018 Brand Finance Banking 500 Brand Value Report. The report was issued by global brand valuation and strategy consulting firm Brand Finance.

Apart from the significant increase in the brand value, Maybank has also maintained its AAA- rating and ranking as the strongest bank brand in Malaysia for the fourth year running.

In Asean, Maybank continued to be among the top brands, coming in fifth in the region and climbing up the ranks from 90 to 83 in the world as the most valuable bank brand.

Maybank group president and CEO Datuk Abdul Farid Alias ( pic) said that this achievement is a testament of the collective effort of the group’s employees in providing a consistent brand experience for customers around the world.

“Maybank’s mission to humanise financial services has been the linchpin of our success today. It has enabled us to build a network of champions, that is, our employees who are passionate in creating the next chapter of brand excitement for our customers.

“We will continue to ensure we remain relevant to our customers and delight them in their interactions through all touch points, be it at our front counters or via digital platforms,” he said.

Maybank scored 82 over 100 in terms of Brand Strength Index (BSI) this year, which is a key driver that contributes to brand valuation and determines the strength of a brand.

Maybank has maintained its BSI to be on par with the Global Top 10’s average and ahead of Asean and Asia Top 10’s average.

Commenting on the success of Maybank’s brand value growth, Brand Finance Asia Pacific managing director Samir Dixit said: “Maybank has grown from strength to strength over the past five years and this is clearly reflected through strong organic brand value growth, which has more than doubled over the past seven years.

“The strong brand value to market capitalisation percentage clearly demonstrates that the Maybank brand is contributing to and driving the business success. Not only has Maybank grown very well, it has managed to increase a significant brand value lead over its peers.”