HDFC Bank most valuable brand in India: WPP study
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New Delhi: HDFC Bank Ltd, India’s second-largest private sector lender by assets, retained its top position in a list of India’s 50 most valuable brands released on Wednesday. The bank has a brand value of $12.6 billion, according to the second edition of the BrandZ rankings.
Axis Bank Ltd, Canara Bank Ltd, tyre maker MRF Ltd and bike maker Royal Enfield are the four brands that figure for the first time in the rankings, compiled by research agency Millward Brown and commissioned by WPP Plc., the world’s largest communications services group.
In the first edition of BrandZ, released in 2014, HDFC Bank ranked the most valuable brand in India with a value of $9.4 billion.
Airtel, the mobile services brand of India’s largest mobile phone operator Bharti Airtel Ltd, remained in the No.2 spot with a brand value of $11 billion. India’s largest lender State Bank of India figured at No.3 with a value of $9.4 billion, followed by ICICI Bank Ltd ($5.1 billion) and Asian Paints Ltd ($3.9 billion). Among the top 10 brands, Axis Bank is the only new entrant.
The list is dominated by banks and financial services companies. Of the 50 brands, 13 are banks and financial services firms, 12 home and personal care brands and 11 are food and beverage brands. The 13 banks and financial services firms account for 41% of the total brand value, representing an increase of 49% over the previous year, according to the report.
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