Industrial and Commercial Bank of China Overtakes Well Fargo as World’s Most Valuable Banking Brand
ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand. According to the Top 500 Banking Brands 2017 Ranking by UK-based The Banker magazine, the brand value grew 32% year on year to US$47.8 billion. China’s total banking brand valuation has also increased by 25% to US$259.2 billion.
“ICBC has overtaken Wells Fargo for the first time to become the world’s most valuable banking brand.”
~ South China Morning Post
The ranking of the most valuable banking brands globally, in its 11th year, determines the net present value of a bank’s trademark and associated intellectual property, or its brand value. ICBC, China Construction Bank, Bank of China and Agricultural Bank of China also made it into the top 10 global banking brands.
Through its continuous endeavor and stable development, the Bank has developed into the top large listed bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank has its presence in six continents, and its overseas network has expanded to 41 countries and regions.The Bank provides comprehensive financial products and services to 5,090 thousand corporate customers and 465 million personal customers by virtue of the distribution channels consisting of 17,122 domestic institutions, 338 overseas institutions and 2,007 correspondent banks worldwide, as well as through its E-banking network comprising a range of Internet and telephone banking services and self-service banking centers, forming a diversified and internationalized operating structure focusing on commercial banking business and maintaining a leading position in the domestic market in the commercial banking sector.In 2014, the Bank was named the “Global Bank of the Year” by The Banker, ranked the first place among the Top 1000 World Banks by the Banker and the largest enterprise in the world among the Global 2000 listed by the US magazine Forbes for the second consecutive year.
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