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Thursday, 23 May 2013

DBS Bank named top brand in Singapore

 

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DBS Bank has been ranked the most valuable brand in Singapore for the first time, coming ahead of Singapore Airlines, in Brand Finance's annual "Top 100 Singapore Brands" league table - PHOTO : SPH
DBS Bank has been ranked the most valuable brand in Singapore for the first time, coming ahead of Singapore Airlines, in Brand Finance's annual "Top 100 Singapore Brands" league table.

The bank moved up two places from its No 3 position in 2012, DBS said yesterday.

According to Brand Finance, DBS had the highest brand value growth over the last year of US$1.16 billion, which was a 50 per cent increase over its 2012 value. The bank's overall brand value has more than doubled in the past four years, rising from US$1.36 billion in 2009 to its current value of US$3.47 billion.

Said Karen Ngui, managing director and head of group strategic marketing and communications at DBS: "The significant growth in our brand value is a testament to the strides the bank has made, both in Singapore and around the region. In recent years, we have delivered strong earnings growth and are today the largest bank in South-east Asia and a leading Asian bank."

Samir Dixit, managing director of Brand Finance Asia Pacific, described DBS as "a great example" of a brand-focused business, where the brand plays a significant role in helping build the business while the organisation seeks to diversify its revenues away from its home market.

London-based Brand Finance is an independent brand strategy and valuation consultancy. The ranking incorporates data from all listed companies. Each brand is accorded a brand rating and a brand value.

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