FNB ranked South Africa's most valuable banking brand
FNB has surpassed Standard Bank in the ranking of most value banking brand in South Africa.
FNB’s brand value grew by 23 percent over the past year, the bank moving up 16 places in the global rankings, to place 141st out of the top 500 banks in the world, according to The Banker, a British banking magazine.
For the past two years, the top spot has been held by Standard Bank, thought its value experienced a 10 percent drop over the same period, taking it from a global ranking of 130th in 2017 to 144th in 2018, and also placing it third out of South Africa’s banks, with Absa taking second place.
Investec came in at 177th place and Nedbank at 182nd, while Capitec, one of South Africa’s fastest-growing banking brands, climbed 57 places from last year’s ranking of 311th to place 254th in the world.
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Overall, The Banker ranked South Africa’s banking system as the 26th most valuable in the world, with the country’s total brand value growing 9 percent, from $6,6 billion (R79,3 billion) to $7,1 billion (R85,4 billion).