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CIMB tops brand ranking - 1st in M'sia, 4th in Asean
Publication Date : 27-02-2014
CIMB Group Holdings Bhd came in first place in Malaysia and fourth in Asean in Brand Finance’s annual ranking of the world’s 500 most valuable banking brands.
CIMB contributed 29% of the US$7.11 billion brand value commanded by Malaysian banks. It is also the only bank in Asia ex-Japan to have a AAA rating, which reflects the strength, risk and potential of a brand relative to its competitors.
Brand Finance Asia Pacific managing director Samir Dixit said CIMB was a growing brand with strong fundamentals.
“The AAA rating is enjoyed by only 18 banks worldwide, so this is a fantastic achievement. Furthermore, CIMB is also among the top five banks in Asean with a brand value exceeding $2 billion.
“This is no mean feat given the tough competition in the banking sector in the region,” he said in a statement.
Its brand would play a crucial role in its overall success amid the economic slowdown and the margin stress in the industry, Dixit added.
CIMB has taken on a more concerted effort in building up its brand equity and adopted a more cohesive regional branding strategy, in line with its aspiration of becoming a leading banking franchise in Asean.
The Banker/BrandFinance Banking 500 is an annual ranking of the most valuable brands in banking, conducted by brand valuation consultant Brand Finance. The results were revealed in the latest edition of the The Banker magazine.