HSBC remained the biggest bank brand for the third year in a row with its brand value rising 12% to $28,472 million.
This must have been a relief to the bank that saw its brand value erode by 28% in 2009 league table. Here’s top 10 best banks in the world.
1 – HSBC
BRAND VALUE (Note: Brand Value in $ millions)
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. As of 2011 it is the world’s second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine. It has around 7,500 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers. As of 30 June 2010, it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia.
2 – Bank of America
Bank of America Corporation (NYSE: BAC), an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina. Bank of America serves clients in more than 150 countries and has a relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. The company is a member of the Federal Deposit Insurance Corporation (FDIC) and a component of both the S&P 500 Index and the Dow Jones Industrial Average.
As of 2010, Bank of America is the 5th largest company in the United States by total revenue, as well as the second largest non-oil company in the U.S. (after Walmart). In 2010, Forbes listed Bank of America as the 3rd biggest company in the world.
The bank’s 2008 acquisition of Merrill Lynch made Bank of America the world’s largest wealth management corporation and a major player in the investment banking market.
3 – Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world. It originated in Santander, Cantabria, Spain.
4 – WELLS FARGO
Wells Fargo & Company (NYSE: WFC) is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit card. In 2011, Wells Fargo was the 23rd largest company.
In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2011. The firm’s primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota.
Wells Fargo in its present form is a result of an acquisition of California-based Wells Fargo & Company by Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte, NC-based Wachovia. Although Norwest was technically the surviving entity in the 1998 merger, the new company renamed itself Wells Fargo, capitalizing on the 150-year history of the nationally recognized name and its trademark stagecoach. Following the acquisition, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls.
In 2010 Wells Fargo had 6,335 retail branches (called stores by Wells Fargo), 12,000 automated teller machines, 280,000 employees and over 70 million customers.
5 – Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York. As of March 2010, Citigroup is the third largest bank holding company in the United States by total assets, after Bank of America and JP Morgan Chase.
Citibank has retail banking operations in more than 100 countries and territories around the world. More than half of its 1,400 offices are in the United States, mostly in New York City, Chicago, Los Angeles, the San Francisco Bay Area, Washington, D.C. and Miami. More recently, Citibank has expanded its operations in the Boston, Philadelphia, Houston, and Dallas metropolitan areas.
In addition to the standard banking transactions, Citibank offers insurance, credit cards and investment products. Their online services division is among the most successful in the field, claiming about 15 million users.
6 – BNP Paribas
BNP Paribas S.A. is the largest global banking group in the world, headquartered in the 9th arrondissement of Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000. In April 2009, BNP Paribas purchased a 75 percent stake in Fortis Bank, the Belgian banking business, making BNP the eurozone’s largest bank by deposits held.
7 – Goldman Sachs
The Goldman Sachs Group, Inc. (NYSE: GS) is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market.
Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury under Presidents Bill Clinton and George W. Bush, respectively, as well as Mark Carney, the governor of the Bank of Canada since 2008, and Mario Draghi, governor of the European Central Bank.
8 – Chase
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in Chicago, since its merger with Bank One Corporation in 2004. In 2008, the bank acquired the deposits and most assets of Washington Mutual.
9 – Bradesco
Bradesco (BM&F Bovespa:BBDC3, BBDC4 / NYSE: BBD / BMAD: XXBDC) is one of the Big Four banks in Brazil, the others being Banco do Brasil, Itaú Unibanco and CEF. Bradesco was the largest private bank in Brazil until Banco Itaú and Unibanco merged in 2009. Bradesco is headquartered in Osasco, has 3,945 branches and 38,772 Automatic Teller Machines. Bradesco offers Internet Banking, insurance, pension plans, annuities, credit card services (including football club affinity cards for soccer fans) for customers, and savings bonds. The bank also provides personal and commercial loans, as well as leasing services. Internationally, Bradesco has branches in New York, Grand Cayman and Nassau, and banking or financial subsidiaries or affiliates in Nassau, Luxembourg, Buenos Aires, Grand Cayman and Tokyo.
10 – Barclays
Barclays PLC (LSE: BARC, NYSE: BCS) is a global banking and financial services company headquartered in London, United Kingdom. As of 2010 it was the world’s 10th-largest banking and financial services group and 21st-largest company according to a composite measure by Forbes magazine. It has operations in over 50 countries and territories across Africa, Asia, Europe, North America and South America and around 48 million customers. As of 30 June 2010 it had total assets of €1.94 trillion, the third-largest of any bank worldwide (after BNP Paribas and HSBC).
Barclays is a universal bank and is organised within two business ‘clusters’: Corporate & Investment Banking and Wealth Management, and Global Retail Banking. The Corporate & Investment Banking and Wealth Management cluster comprises three business units: Barclays Capital (investment banking), Barclays Corporate (commercial banking) and Barclays Wealth (wealth management). The Global Retail Banking cluster comprises four business units: Barclaycard (credit card and loan provision), Barclays Africa, UK Retail Banking and Western Europe Retail Banking.
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- Reference/Source: economictimes.indiatimes.com by Bhanu Pande, ET Bureau (1 Feb, 2010, 03.18AM IST,)
- Reference/Source: wikipedia.org
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