(Yicai Global) Feb. 11 -- Chinese-funded lenders, led by the Industrial and Commercial Bank of China, have taken the top four ranks in the global list of most valuable banking brands, according to a British consultancy.
The ICBC, China's biggest bank by assets, topped the list for the third consecutive year with the brand value of USD79.8 billion last year, climbing 35 percent, Brand Finance said in a report that is based on intangible assets. China Construction Bank came second with a value of USD69.7 billion. The Agricultural Bank of China was third with USD55 billion and the Bank of China fourth with USD51 billion. California's Wells Fargo took the fifth position.
Last year, the brand value of all Chinese banks reached USD406.9 billion, while jumping 28 percent from the year before, which was twice the growth rate of the US lenders. Part of the success of Chinese financial institutions comes from the rising middle class and support from the government.
If measuring the brand's strength in terms of shareholder rights, marketing and business performance, Moscow-headquartered Sberbank of Russia has the world's most powerful banking trademark with a score of 93.1. The ICBC is second on the list and China Construction Bank fourth.
Editor: Emmi Laine