Bank brands gain value, except NAB

15/12/2009

The brands of Australia’s big four major banks have largely escaped extensive damage as a result of the global financial crisis. National Australia Bank’s brand image lost 4.7 per cent of its value in 2009 and fell three places in the top ten list of most valuable Australian brand names.

NAB was the most valuable brand name in Australia in 2008, according to Brand Finance Australia, but fell to third in 2009. Westpac’s brand climbed from 8th most valuable to 2nd most valuable in Australia after Woolworths. Westpac bought St George bank during the study period.

Commonwealth Bank’s brand image remained steady at 4th most valuable in Australia as it accumulated 7.4 per cent in value during the year. ANZ fell one spot from 6th to 7th, but its brand value climbed almost 5 per cent in 2009.

Other brand names in the top 10 were Coca Cola Amatil, Lion Nathan, Foster’s and Wesfarmers, the new owners of Coles. Qantas fell out of the top ten to number 12 as $700 million was wiped from its brand value.

Source: The Age

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