- Singapore Press Holdings
For the first time ever, Malaysian bank Maybank has made it to Brand Finance’s annual ranking of the world’s top 500 most valuable brands.
The business valuation consultancy ranked the bank 494th on this year’s list. The only other Malaysian brand in the list was oil and gas company Petronas in 127th place, up from 132nd last year.
In a statement on Monday (Jan 28), Maybank said that its brand valuation for 2019 was US$4.2 billion – up from last year’s US$3.16 billion.
The five brands which topped the most valuable brand chart were Amazon, Apple and Google – which retained their positions last year – followed by Microsoft and Samsung.
Brand Finance measures the values of brands by estimating their likely future revenues – based on their royalty rates – to arrive at a “brand value”, which is defined as how much net economic benefit a licensor would achieve if the brand is licensed in the open market.
In the report’s Brand Strength Index (BSI) – a key contributor to brand valuation – Maybank rose from 82 out of 100 last year to 86 this year, improving its rating from AAA- to AAA.
Datuk Abdul Farid Alias, group president and CEO of Maybank, said that the bank’s emergence in the ranking was made possible because of its efforts in building upon relationships with its stakeholders and good value that it consistently delivered.
“It is definitely a great honour for Maybank to be listed among the top brands in the world today. We believe it also demonstrates how a homegrown brand from Malaysia is defining new standards and raising the bar in the global stage with support from all its stakeholders,” he said.
Samir Dixit, managing director of Brand Finance Asia Pacific, said that this year’s ranking shows that regional banks such as Maybank are starting to display their global competencies.
“It’s heartening to see that regional banks like Maybank have started to threaten some of the established global players and are now competing with the best in the world when it comes to global brand strength and global recognition.”
He also acknowledged that the brand has been increasing in strength over the years and added that this achievement was the result of their “concentrated brand management efforts over the years.”
Dixit also praised the way Maybank offers financial services, saying that “the humanising financial services aspect will become a long term competitive advantage for Maybank”.
The report also ranked Jeff Bezos from Amazon as the top CEO globally. The others in the top five were: Akio Toyoda from Toyota, Bernard Arnault from LVMH, Tim Cook from Apple and Robin Li from Baidu.
The only CEO from a Malaysian company to make it to the Brand Guardianship Index 2019 was Wan Zulkiflee from Petronas at 93rd spot.