DBS EXTENDS LEAD AS MOST VALUABLE BRAND IN SINGAPORE
Brand value tops USD 4 billion; double that of three years ago
SINGAPORE, 3 July 2014 – DBS Bank has been ranked the most valuable brand in Singapore for the second consecutive year in Brand Finance’s annual “Top 100 Singapore Brands” league table.
According to Brand Finance, over the last year, DBS grew its brand value by USD 535 million to USD 4.01 billion. This makes DBS the only Singapore company with a brand value that tops the USD 4 billion mark. It also enabled the bank to extend its lead over the Singapore Airlines brand by USD 761 million. Today, DBS’ brand value is nearly double that of other bank brands in Singapore.
In 2014, DBS also contributed more than 30% of the total brand value increase of USD 1.708 billion across the top 100 Singapore brands.
Samir Dixit, Managing Director of Brand Finance Asia Pacific said, “The fact that DBS has generated a significant lead over Singapore Airlines in a very short period of time clearly communicates the importance and significance of a strong brand for DBS. They will likely stay at the # 1 position for a few years unless there is a game changing strategy amongst some of the other top five brands.”
“DBS has also managed to nearly double their brand value in a very short span of just three years which is a significant achievement,” added Dixit.
Karen Ngui, Managing Director and Head of Group Strategic Marketing & Communications at DBS said, “Given our roots as the Development Bank of Singapore, it is extremely heartening to be recognised as Singapore’s most valuable brand for the second year running. Our brand value has doubled in the last three years, from USD 2.04 billion to USD 4.01 billion and this is testament to the solid strides we have made in growing our franchise in the region and entrenching our leadership position in Singapore. We remain committed to growing our brand value as we continue on our journey to become the Asian bank of choice."
News
