FirstBank of Nigeria Limited, Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank) and Access Bank Plc have been ranked number one banking brand in Nigeria among the ‘Top 500 Banking Brands’ by The Banker magazine of the Financial Times and Brand Finance, London, in 2015.

A report on Monday revealed that for the fourth consecutive year, FirstBank of Nigeria has been ranked number one banking brand in Nigeria.

Country Representative of The Banker magazine - Nigeria, Mr. Kunle Ogedengbe, explained that FirstBank moved from being number 382 in 2014 to 336 in the 2015 edition.

Other Nigerian banks that also made the ranking are Zenith Bank, which moved to number 388 from 453 in 2014, GTBank, which moved to 417 from 422, while Access Bank made first entry into the ranking.

It showed that the Brand value of FirstBank increased to $300 million in 2015 from $228 in 2014 and according to the Economics editor of the magazine, Silvia Pavoni, the brand value is “the licensing rate that a third-party would need to pay to use that company's brand.”

Commenting on the methodology of the ranking, Pavoni said Brand Finance obtained brand-specific financial and revenue data; modeled the market to identify market demand and the position of individual banks in the context of all other market competitors; established the royalty rate for each bank; calculated the discount rate specific to each bank, taking account of its size, geographical presence, reputation, gearing and brand rating and discounted future royalty stream (explicit forecast and perpetuity periods) to a net present value which is the brand value.

This approach, the Economics editor noted, “is used for two reasons: it is favoured by tax authorities and the courts because it calculates brand values by reference to documented third-party transactions and it can be done based on publicly available financial information.”

Globally, Wells Fargo of the United States of America retained the number one banking brand in the world for the third consecutive year and was followed by banks in China, United Kingdom and Spain in the first ten.

Wells Fargo’s brand value for 2015 is $34.9 billion as against $30.2 billion in 2014, an increase of $4.7 billion.

According to the report, the first 10 banks in the world are Well Fargo (USA); ICBC (China); HSBC (UK); China Construction Bank; Citibank, Bank of America, Chase (USA); Agricultural Bank of China; Bank of China; and Santander (Spain).

On the rise of Chinese banks, the chief operating officer of Brand Finance, Mr. Bryn Anderson noted that “the Chinese economy has been doing well for a number of years but I think this has been the first year, in terms of brand value, when Chinese banks have climbed up the tables and stood out.”

http://www.thisdaylive.com/articles/four-nigerian-banks-among-top-500-global-banks/200834/

First Bank has always been at the top of them all.
Zenith Bank and GtBank follows accordingly, as strong competitors.
Access Bank also competes with Gt bank.

Truly, these "quartet" are the leading banks in Nigeria of today.

And when I tell people I use First Bank, they say I'm old school. Hah!

So no central Bank?

TeamSimple:
So no central Bank?

Are u for real?

Someone will soon ask "So no Islamic Jaiz BH Bank"

ignis:


Are u for real?

he must be joking...

But I think our banks need to adopt new system if they need to be up and competing with the foreign banks...Just can't imagine entering GTBANK around 8 and using up to 2hours plus... Omg that same time is needed to cook a bag of beans....abeg upgrade

Na soludo hand work be dis o. Oya Okonjo Iweala come and lie to us dat its ur policy that is working.

500 what...! and are we expected to celebrate this? When they said our economy is the 26th largest in the world.

Ok

Good

Nice one,
But why we make and count our money, have we as Nigerian youths ever cared to reason these out? Let us for a moment set religion and tribe aside.

The likes of Gowon, Buhari, IBB ruled Nigeria as youths, they had significant influence when the constitution we operate with was written and they made sure you being less a youth can only contest as a ward councillor, yet no elections are held at that level.

If like we all tend to agree when our interest are along the line, age is just a number, don't you think we should push that we be allowed to help shape the future we are supposed to own?

#we_need_a_constitutional_review

#good4dem

FirstBank of Nigeria Limited, Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank) and Access Bank Plc have been ranked number one banking brand in Nigeria among the ‘Top 500 Banking Brands’ by The Banker magazine of the Financial Times and Brand Finance, London, in 2015.

[size=13pt]Get ready for Islamic banks by Buhari.[/size]

www.nairaland.com/attachments/2076541_buha12345_jpeg651a03cb562305236235e0f84dae5bd9

Okay

There is only one bank in Nigeria and that's First Bank! Even the CBN currently falls short of regulatory vices that could keep the nation going..

Change have started oh

Buhari never enter power change don begin, what if Buhari enters power?

Abeg, hit like if you believe in sai Buhari

Wonderful! This is obviously a result of Soludo's and Sanusi's policies while they were CBN president. I'm glad I use two of those banks First and Zenith though I always prefer Zenith Bank. We still have a long way to go though!




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Good news....but them banks refuse to lend to the common man at low interest rates.

Interesting........

where is WEMA bank......lolllll

Where is my bank FCMB?

Where is my Diamond bank



















Any way, my signature; my business

TeamSimple:
So no central Bank?

smh, and u asking dis question? U are really teamsinple.

Good news..... they should keep it up

this is real true

Soludo achieved something great after all! His consolidation agenda has paid off. These banks were no where until they were influenced to go bigger and stronger.

TeamSimple:
So no central Bank?

lol

Not surprised..
Where's Diamond Bank ?

k

yh.....my bank is there.... oya shoki

That is a good news