Johannesburg — WITH a brand valuation of $1,4 billion (over US$117 million) and growing its brand value by 23 percent in the past year, South Africa's First National Bank (FNB) has been named Africa's leading bank.
It has been honoured deservingly in The Banker's, Top 500 Banking Brands Report 2018.
FNB is ranked 141st in the global banking table.
According to the report, the bank's brand positioning campaign in 2017 redefined the concept of 'helpfulness' in the current South African and African context.
Joy Macknight, Deputy Editor at The Banker, said FNB made great strides in brand positioning over the past 12 months.
Impressively, it moved up 16 positions in The Banker's Top 500 Banking Brands 2018 global ranking, to become the premier banking brand in Africa, according to Macknight.
Faye Mfikwe, FNB Chief Marketing Officer, said the success lay in FNBs ability to operate in challenging market conditions with changing consumer perceptions and dynamics.
"We fundamentally believe that understanding our customers' circumstance and context, plays a vital role in helping us maintain a strong and relevant brand," said Mfikwe.
FNB continually invests in world-first digital solutions and big data capabilities to address customer needs.
It is the first bank in Africa to launch its own branded subscriber identity module (SIM) cards and smartphones.