FNB named as the most valuable banking brand third year in a row

13 July 2020 FNB

The latest 2020 Brand Finance® Africa Annual Survey has named FNB as the most valuable banking brand for the third year in a row. The FNB brand has been valued at R23.9 billion.

“Being named as the most valuable banking brand in the country three years consecutively reflects our dedication to building and delivering the best contextual and digital banking solutions possible. It’s great to see that our customers can rely and fall back on a brand they can trust, especially when it comes to their banking needs,” says Faye Mfikwe, FNB Chief Marketing Officer.

According to the report, the COVID-19 pandemic could see South Africa’s top 50 most valuable brands lose up to 15% of brand value cumulatively. This is a drop of over R65 billion in brand value across the top 50 most valuable brands compared to the earlier valuation as at 1 January 2020.

She adds that, “From the onset of the COVID-19 pandemic we looked at Cashflow Relief solutions to assist both our customers and entrepreneurs. Our aim was to ensure that our customers could maintain their financial affairs during this uncertain time. Our multi-channel digital approach helped customers continue managing their day-to-day-banking, investing, credit and insurance needs from home during the lockdown.”

“The success of our brand can be attributed to our deeply-rooted relationships with all our stakeholders that have helped strengthen our journey towards building innovative platforms that speak to our customers’ needs and has helped maintain our market position in South Africa.” concludes Mfikwe.

Brand Finance is the world’s leading independent brand valuation consultancy which is well-known for quantifying the financial value of brands. It calculates the values of the brands in its league tables using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668.

Quick Polls


Is the commission procurement rule introduced via clause 5.14 of the Amended Financial Services Sector Code (AFSSC) an important piece of the transformation puzzle?


The clause’s implementation coincides with an increase in the minimum spend targets, which further complicates matters
Many FSPs still view the AFSSC as a matter of choice and consequence rather than compliance
Transformation represents a great opportunity for growth and penetration by brokers
Brokers are unlikely to find their commission business yanked away from them by insurers looking to influence procurement scorecards
fanews magazine
FAnews August 2020 Get the latest issue of FAnews

This month's headlines

Ethical behaviour - are you toeing the line?
Latest business interruption developments raise more questions than answers
Brokers remember: You are accountable...
A sustainable pension - How to manage living annuities in uncertain times
Claim stats… life can change in a heartbeat
Are South Africa’s income protection benefit providers ready for COVID-19?
Subscribe now