A bank by any other name? look no further..| Bank Insight

Retail Banking habit in the world uncluttered by Mobile Banking and cross channel marketing as also the banking crisis of 2008 that still continues in Europe, US and now Asia, was driven by customers looking for the most trusted brand name before walking in to open a relationship.

The brand of the bank was key through Globally valid tag lines that substituted for transparency and the bank’s vision and underwrote principles of customer service facilitation and easy conviction on Fees and Charges. Till last year global banking brands were crowded by US and European names

Today multitude of charges and fees, disengagement of customers and abundance of credit card products in the mail has created a fragmented market in the US when the economy is at its best, the deepest levels of distrust in bank names globally especially in Europe and the disenfranchisement of banks in the global bank sell off means a re evaluation of brands for consumers on the street as also investors.

Brand Finance sponsored Bank Brand ranking report appeared yesterday, showing a brand valuation drop of $ 6 bln for Wells Fargo and $ 8 bln for Bank of America to $23 bln and $22.9 bln respectively falling to #2 and #3 in retail banks despite their on ground performance in an embattled US market while the Emerging markets emperor sneak ahead with unchanged brand value of $27.6 bln from last year to a Global #1 rank. The bank has recently sold more than $33 bln worth in Credit Card assets and 150 bank branches in the US. Chase and Citi tied behind the Top3 but also below Santander at $18.9 bln and $18.6 bln a piece. Santander lost $6 bln in Brand value this year maintaining #5 while Barclays’ lost 5 ranks int he fall from $17.3 bln to $13.5 bln in brand value and the entry of Ag Bankin the Top 20 meant all Big 4 from China were there in the Top 20 ahead of European banks like Credit Suisse and UBS that fell through to #21 and #30 respectively

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