- POSTED: 03 Jul 2014 17:46
- UPDATED: 03 Jul 2014 17:47
The bank is the only Singapore company with a brand value that tops US$4 billion, helping it to retain top spot for second year running, according to Brand Finance.
SINGAPORE: DBS Bank is the most valuable brand in the annual Top 100 Singapore Brands ranking for a second year running. DBS grew its brand value by US$535 million to US$4.01 billion (S$5.0 billion) over the last year, said London-based consultancy, Brand Finance.
It helped the bank extend its lead over the Singapore Airlines (SIA) brand by US$761 million. DBS contributed more than 30 per cent of the total brand value increase of US$1.71 billion across the top 100 Singapore brands.
The bank has managed to nearly double its brand value in three years, from US$2.04 billion to US$4.01 billion and its brand value today is almost double that of other bank brands in Singapore.
"The fact that DBS has generated a significant lead over SIA in a very short period of time clearly communicates the importance and significance of a strong brand for DBS. It will likely stay at the No. 1 position for a few years unless there is a game-changing strategy amongst the other top five brands," said Mr Samir Dixit, Managing Director of Brand Finance Asia Pacific.