The US’ largest retail lender, Bank of
America, has replaced HSBC as the world’s most valuable bank brand,
according to the 2011 Brand Finance Banking 500 survey.

Wells Fargo ranked second (up from
4th last year), ahead of HSBC, with Santander and Chase
(up from 8th) ranking fourth and fifth respectively.

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Bradesco ranked 6th (9th in 2010),
Barclays 7th (10th) with ICBC, Citi (down
from 5th) and China Construction Bank rounding off the
top 10.

In the most recent survey from
rival branding consultancy Interbrand, published in September,
the top ranked global retail banks were HSBC, Citi, Santander and
Barclays.

The best performing brand in the survey was
Itaú; its brand value more than doubles as it jumped from
25th last year to 11th this year.

The gradual recovery of the US sector was
evidenced by an increase in the number of US banks ranking in the
top 500 from 85 lenders in 2010 to 90 in 2011.

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US domiciled banks experienced a 23% increase
in brand value; by contrast the brand value of European domiciled
banks increased by only 6%.

Major Eurozone lenders fared poorly in this
year’s survey with BNP Paribas 12th (down from
6th); Societe Generale 24th (from
16th) and UniCredit 30th (from
21st).

National Bank of Greece was among the biggest
losers from last year, dropping 100 places to 167th;
Spain-based La Caixa, down a whopping 78 places to 125th from
47th and Intesa Sanpaolo down 72 places to 102 both ran
it close.

In Australia, the Big 4 lenders – National
Australia Bank (42nd), Commonwealth Bank of Australia
(46th), Westpac (52nd) and ANZ
(59th) – all fell.

In Canada, Royal Bank of Canada
32nd (up from 28th) ranked the country’s most
valuable brand, replacing Toronto Dominion (which remained
31st). Scotiabank rose 18 places to 44th
while Bank of Montreal jumped 9 places to 47th.

Brand Finance 500 survey,2011