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ISCOVER
Staff Reporter
The Commonwealth Bank of Australia, ANZ and Westpac have all secured a place in a new ranking which looks at the Top 100 Most Valuable Global Brands.
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According to a study by BrandZ, CBA was the highest-placed Australian company, taking out 48th position in the ranking.
The bank also featured among the Top 20 risers, with the lender’s brand value surging by 36 per cent to US$17.7 billion.
ANZ Bank was next, securing 52nd position in the ranking, while Westpac placed 88th.
The BrandZ Top 100 Most Valuable Global Brands study, commissioned by WPP and conducted by Millward Brown Optimor, is the only ranking that uses the views of potential and current buyers of a brand, alongside financial data, to calculate its value.
The combined value of the Top 100 has grown by 77 per cent since 2006 to $2.6 trillion.
“Australian brands are fast gaining prominence as emerging overachievers, having added a further three brands to the list in 2013 since Commonwealth Bank’s debut in 2012,” Millward Brown Optimor’s Johnny Panagiotidis said.
“The four Australian entrants are a testament to the relative strength of our economy and our increasing ties with Asia. The rise of the Australian dollar also lifted the relative value of the brands.
“Australian banks’ expansion into Asian markets was again evident this year with two new entrants to the list in ANZ and Westpac, as well as a significant jump in Commonwealth Bank’s brand value and placing. The increased prominence of our largest retailers, Woolworths and Coles, was in line with the global trend for retailers in which their overall brand value grew 17 per cent, following a decline of five per cent a year ago.”
