CGD among the world’s leading financial brands
Caixa Geral de Depósitos (chairman Faria de Oliveira) enters the Brand Finance ranking of the world’s 500 most powerful financial brands at position 77.
Caixa Geral de Depósitos (CGD) is ranked the 77th most valuable financial brand in the world according to a report published this week by Brand Finance. The Portuguese bank, whose chairman is Faria de Oliveira, did not even appear in last year’s ranking.
According to the Brand Finance Global Banking 500 report on the world’s best financial brands, the CGD brand is worth 1000 million euros.
CGD is placed above other banking brands such as Scottish Widows, Bank of Scotland, Western Union, Caja Madrid and Abbey.
For the first time, this year’s ranking includes five Portuguese banks, with Millennium BCP, BPI, BES and Banif present alongside CGD. Like CGD, BES and Banif did not even appear in last year’s ranking of the most valuable financial brands in the world.
Millennium bcp is the second highest Portuguese financial brand in the ranking, rising to 138th position from 145th last year. Next comes BES, in 221st position, followed by BPI (falling to 303rd position from last years 241st), and Banif, which enters the ranking at 491st position.
According to the Brand Finance report, the Millennium BCP brand is worth 536 million euros (as against 645 million last year), with BES valued at 222 million, BPI at 131 million (as against 275 million last year) and Banif at 60 million euros.
The 2009 edition of Brand Finance’s Global Banking 500 records a 32% drop in the global value of the world’s financial brands compared with the previous year’s figure, which now amounts to 168,500 million euros.
The 209 financial brands no longer included in the ranking include Fannie Mae, Lehman Brothers, Northern Rock and Bear Stearns, while Merrill Lynch and Wanchovia drop 30 and 59 places respectively.
Another name on the move is Brazilian bank Bradesco, which rises from 42nd to 12th place, right behind JPMorgan.
HSBC still leads the ranking, although its value fell by 40% to 19,600 million euros. Other significant losses in value are recorded for BNP Paribas (from 11,309 to 7,231 million euros), Goldman Sachs (9,673 to 5,217 million euros) and Citi (21,492 to 7,579 million euros).
After HSBC come Bank of America, Wells Fargo, Santander and ICBC. The brands gaining most ground in this year’s ranking belong to financial markets such as India, Turkey and South Korea.
“The financial crisis has been clearly reflected in the values of banking brands, and this will make the leading international institutions concentrate more heavily on their branding. Banks in emerging markets are in good health and have begun to catch up with some of the household names in the banking world,” explained Brian Caplen, director of The Banker magazine, Brand Finance’s partner in the compilation of the ranking.
From Jornal de Negócios