In terms of profitability, there is no question that the Big 4 banks in Australia are the best in the world, but they trail the competition in terms of brand value worldwide.
The Big 4 banks in Australia are the Commonwealth Bank, Westpac Banking Corporation, Australia and New Zealand Banking Group and the National Australia Bank. In a recent ranking by Aggressive expansion into Asia, the Australia and New Zealand Banking Group leads all 4 with a steady ranking at 39 – similar to last year, at a brand value of $6.8 billion. The Commonwealth Bank rose by 2 places from last year, ranking at 42 with a value of $6.3 billion. NAB dropped by a point from last year, finishing at 46 with a value of $5 billion. Rounding up the list is Westpac, and although it came in last among the Big 4, it gained 5 spots up to 48 with a value of $4.9 billion.
All the Big 4 banks in Australia posted an increase in brand value, but only CBA and Westpac improved in their ranking from last year. The world’s best in terms of brand value is Wells Fargo, valued at $34.5 billion.
Read more about this on the Sydney Morning Herald website.
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