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BrandZ Top 100 2011: SECTORS/COMMENTARY 52Banks were at an inflection point.Most banks stabilized their businesses. Balance sheetslooked better. The major remaining deficit was customertrust in the brand.It proved difficult to restore, particularly in the US, wherethe foreclosure rate remained high and small businessloans scarce, while the banks inadequately explainedhow they’d not just survived but also contributed toOLD NEWeconomic growth.In addition, the ubiquity of digital commerce and socialnetworking challenged financial institutions to changehow they market and serve customers. Post-recessiongovernment regulations limited certain fees. Banksresponded by continuing to serve high net worthcustomers while improving service to the “mass affluent”by adopting small-bank approaches to service.The banks in fast-growing markets,such as India’s ICICI and Itaú of Brazil,appreciated in value. ICBC, the world’slargest bank in market capitalization andprofit, operated over 16,200 branchesthroughout China. China’s second largestbank, China Construction Bank focusedon telecommunications and otherrapidly expanding industries. The brandappreciated 22 percent. As the nation’smost global bank, with internationaloperations in 29 countries, Bank of Chinamay have been more impacted by globalfinancial issues.FinancialinstitutionsEarning money,restoring trustTOPBRANDSBrand Value$MBrandContributionBrandMomentumBrand ValueChange1 ICBC 44,440 2 5 1%2 Wells Fargo 36,876 3 2 97%3 Visa 28,553 4 9 15%4 China Construction Bank 25,524 2 4 22%5 HSBC 22,587 2 2 -4%6 Bank of China 17,530 2 4 -20%7 RBC 17,182 3 4 3%8 American Express 17,115 3 2 23%9 TD* 16,931 4 1 19%10 Agricultural Bank of China 16,909 1 6 N/A11 Citi 15,674 2 1 17%12 ICICI Bank 14,900 3 3 3%13 MasterCard 13,543 4 7 16%14 Chase 12,083 3 3 -3%15 Standard Chartered Bank 12,033 2 2 45%16 Santander 11,363 2 5 -37%17 US Bank 10,525 3 2 26%18 Scotiabank 10,076 2 2 N/A19 Itaú 9,600 2 3 29%20 Bank of America 9,358 1 3 -43%*Correction to TD’s 2010 value. Brand value in 2010 is $14,202, not $10,274Source: Millward Brown Optimor (including data from BrandZ and Bloomberg)FINANCIALINSTITUTIONSUP 9%
53 BrandZ Top 100 2011: SECTORS/COMMENTARYBrandZ Top 100 2011: SECTORS/COMMENTARY 54Standard Chartered Bank, a UK-based institution, earnedthe majority of its profits from emerging markets and wasminimally exposed in North America and Europe. It grew45 percent in brand value. HSBC enjoyed the efficienciesand risk balance provided by its extensive global network.Benefits from the acquisition of Wachovia continued toaccrue for Wells Fargo. Brand value almost doubled.Chase had a head start coming out of the recessionbecause the bank went into it less exposed to debt.Meanwhile, Citi and other banks moved beyond viewingtheir customers according to traditional demographiccategories. Instead of focusing on income, the banksorganized offerings around attitudes and interests.Citi marketed to a group it calls “generations forward,”young aspiring people defined by post-recession valuesthat include taking responsibility for their personal welfareand the world’s.Bank of America continued to recover from the globalfinancial crisis and its acquisition of Merrill Lynch.Despite its strength in fast-growing Latin Americamarkets, the Spanish bank Santander was hurt by resultsfrom its European operations.American Express posted strong profits as consumersand businesses returned to spending and morecardholders paid balances in full each month. Brandvalue rose 23 percent. The post-recession consumer shiftaway from credit to cash and debit cards forced creditcard companies to rethink their business models. Visa’s“life flows better,” campaign suggested that the cardhelps the user move through life more easily. The brandincreased 15 percent.FINANCIALINSTITUTIONSIN 2011Mich Bergesen, Global Director,Financial Services, LandorOffering real value“There’s an opportunity for banks now to puttheir money where their mouths are, in termsof focusing on responsible lending and offeringreal value on their products and services.”FINANCIAL INSTITUTIONSHIGHLIGHTSBanks excelled at using digital fortransactional needs, such as online banking,but lagged in brand-building social mediaapplications.Investment banks especially struggled withpost-crisis issues of reputation and trust.While customers often engaged with smalllocal institutions for checking and othertransactional services, they generally kepttheir savings in the large institutions viewedas too big to fail.SPOTLIGHTRussia’s Sberbank appeared for the firsttime in the BrandZ Top 100 Most ValuableGlobal Brands on the strength of a successfulinitiative to transform it into a friendly bankof choice rather an institution recalled for itsdominating presence during the Soviet periodand a heritage dating to 1841. A programcalled “Leading the Change in Russia,”updated the brand and emphasized itsnational reach with almost 20,000 branches.In 2010, Sperbank accounted for almost 40percent of the banking sector’s profits inRussia, compared with 29 percent in 2007.Fees and commissions drove net incometo increase by a factor of 7.4 to roughly $16billion (181.6 billion rubles) in 2010, from $800million (24.4 billion rubles) in 2009.
Page 1 and 2: Top 100Most valuableglobal brands20
Page 4 and 5: PrefaceThe definitive brand valuati
Page 6 and 7: BrandZ Top 100 2011: INTRODUCTION 1
Page 8 and 9: Top 20 RisersTechnology, vision dro
Page 10 and 11: Year-on-YearChangeAll sectors grew
Page 13: 25 BrandZ Top 100 2011: INTRODUCTIO
Page 16 and 17: BrandZ Top 100 2011: SECTORS/COMMEN
Page 24 and 25: The DigitalRevolution:Shoppers and
Page 34 and 35: A Generational ShiftBrandZ Top 100
Page 36 and 37: 71 BrandZ Top 100 2011: SECTORS/COM
Page 46 and 47: Brand ChinaFrom cutting costs to ad
Page 48 and 49: Brand IndiaColorful, confident and
Page 50 and 51: BrandZ Top 100 2011: OPPORTUNITIES/
Page 52 and 53: 103 BrandZ Top 100 2011: OPPORTUNIT

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