Three Moroccan banks are in the top 500 of the most valuable and strongest banking brands in the world in 2022. This is what emerges from the Brand Finance ranking.
UK brand valuation and advisory firm Brand Finance published its report on February 2 in The Banker magazine. The world’s 500 largest banking brands reversed the trend of shrinking banking brand value for the first time in three years, seeing brand value grow 9% to a record high of $1.38 trillion. dollars, the report says. The consolidated value of the brands of the largest banks in the world decreased by 2% at the start of 2020 (1,330 billion dollars) and by 4% at the start of 2021 (1,207 billion dollars), it is specified.
Initially caused by economic uncertainty and fluctuating interest rates, the situation was exacerbated by the Covid-19 pandemic, which had a negative effect on profits and interest rates, explains the London-based company Brand finance. However, the improved digitalization of bank brands, combined with strong government intervention and economic recovery around the world, has led to higher than expected sector profitability in 2021, the same source continues. By these criteria, ICBC (1ᵉ) is the largest bank in the world in terms of total assets.
In Africa, five South African banks – Standard Bank (145ᵉ), First National Bank (146ᵉ), ABSA (154ᵉ), Nedbank (191ᵉ) and Investec (193ᵉ) – appear in the top 200. In the Maghreb, three Moroccan banks appear in the top 500 of the most valued and strongest banking brands in the world: Banque Populaire (288ᵉ), Attijariwafa bank (299ᵉ) and Bank of Africa (466ᵉ). No Algerian, Tunisian, Mauritanian or Libyan bank appears in this world ranking. In the Middle East, QNB (45ᵉ) cemented its position as the region’s most valuable bank brand, seeing sustainable brand value growth of 16% to $7.1 billion.