Banks, Big Four firm make UK’s most valuable brands list
Brand valuation consultancy Brand Finance has revealed the most valuable brands in the UK, with several banks making the list.
The report revealed the value of each brand, showing that despite worries over the vote for the UK to exit the EU, businesses in the UK are responding well to the challenges of Brexit.
HSBC was found to be the most valuable bank, earning fourth place in the rankings with a value of £13.8 billion, followed by professional services and Big Four firm EY in fifth place with a value of £12.9 billion. Barclays also earned a place in the top ten, with the bank coming in sixth place with a value of £10.2 billion.
In addition to revealing the most valuable brands, the report looked at factors such as reputation and effectiveness of marketing to identify the strongest brands, with EY topping this list.
Amongst the banks that did not make the list was the Royal Bank of Scotland, with the bank instead being amongst the firms that have experienced the biggest drop in value.
Commenting on the report, Brand Finance Chief Executive David Haigh said: “Project Fear predicted that Brexit would be the end of the world as we know it, with catastrophe for UK businesses and UK brands. It is becoming clear that the UK economy is far more resilient than predicted and that UK brands are responding well to the challenge posed by Brexit.”