DBS Bank retained its spot as the top brand in Singapore based on brand value in 2022, with a brand value of around 8.7 billion U.S. dollars. DBS, formerly known as the Development Bank of Singapore Limited, is Southeast Asia's largest bank in terms of assets. Meanwhile, UOB retained the second position in the same year.
Brand value and its significance
Brand value is an estimation of how much a brand would be valued if it were to be sold in the market. It is a driving force for companies to be more innovative and dedicated to their customers. Brand value will in turn generate customer loyalty, brand visibility, and brand association for the company. On a broader scope, by having three of its major banks sitting on the top three of most valuable brands in Singapore since 2016, Singapore may reinforce its eagerness to be the center of financial services internationally.
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Brand Finance. (August 4, 2022). Brand value of the top ten most valuable brands of Singapore in 2022 (in million U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/
Brand Finance. "Brand value of the top ten most valuable brands of Singapore in 2022 (in million U.S. dollars)." Chart. August 4, 2022. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/
Brand Finance. (2022). Brand value of the top ten most valuable brands of Singapore in 2022 (in million U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/
Brand Finance. "Brand Value of The Top Ten Most Valuable Brands of Singapore in 2022 (in Million U.S. Dollars)." Statista, Statista Inc., 4 Aug 2022, https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/
Brand Finance, Brand value of the top ten most valuable brands of Singapore in 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/ (last visited August 25, 2024)
Brand value of the top ten most valuable brands of Singapore in 2022 (in million U.S. dollars) [Graph], Brand Finance, August 4, 2022. [Online]. Available: https://www.statista.com/statistics/235103/brand-value-of-the-most-valuable-brands-of-singapore/