SINGAPORE (Feb 7): DBS Bank is No. 34 in Brand Finance’s Banking 500 2019 annual report global rankings, rising six spots from No. 40 in 2018 and making it Asean’s ‘Most Valuable Bank Brand” for the 7th straight year.

Brand Finance is an independent brand valuation and strategy consultancy. Its annual Banking 500 study ranks the world’s most valuable and strongest banking brands using an ISO-certified brand valuation method.

In its Feb 2019 report on the most valuable and strongest banking brands, Brand Finance also upgraded DBS’s brand rating to AAA from AAA- previously.

Notably, the bank’s brand value has grown 38.9% to US$9.02 billion ($12.2 billion) from US$6.49 billion since the last report.

ICBC retained its No.1 global ranking in 2019 with an unchanged brand rating of AAA+, followed by China Construction Bank and Agricultural Bank of China, which came in at second and third places, respectively, with AAA brand ratings.

DBS last month announced that it was ranked among the top 40 strongest brands in the world in the agency’s Global 500 2019 annual report, which was issued in Jan this year.

“At DBS, we constantly endeavour to improve the banking experience for our customers. In recent years, we’ve accomplished this through a relentless focus on digitalisation, coupled with a culture of innovation and human-centred design thinking that flows through our entire organisation,” comments Karen Ngui, head of group strategic marketing & communications at DBS Bank.

“We remain firmly committed to reimagining banking and it is an honour to once again represent Singapore among the 40 most valuable bank brands in the world,” she adds.