Brand Finance: UK neobank Revolut is the fastest growing bank brand in the world, skyrockets nearly 800%
The total brand value of the world’s 500 most valuable banking brands has surged by 13% year-on-year to reach USD1.6 trillion, marking the first double-digit increase in four years, according to the latest report by Brand Finance, the world’s leading brand valuation consultancy. „This follows two years of sluggish 2% brand value growth and reflects the banking sector’s ability to sustain momentum despite market volatility.” – states the press release.
Annie Brown, Valuation Director at Brand Finance, commented:
“The high-interest rate environment in many major economies has undoubtedly driven growth in banking brand values, boosting profits and share prices in 2024. However, longer-term brand value growth is being shaped by four key trends: regulation, digital innovation, a shift towards fee-based income over interest margins, and a renewed focus on brand building to sustain competitive advantage.”
Digital-first challenger banks are now seeing the benefits of years investment into building their brands. UK neobank Revolut is the fastest-growing banking brand globally, with a 795% increase in brand value to USD1.9 billion, driven by marketing investment, customer expansion and new market entry. Coutts is the UK’s strongest banking brand, with a Brand Strength Index (BSI) score of 85.6 out of 100.
HSBC remains the most valuable banking brand in the UK, and in wider Europe, a position it has held for more than a decade, and places 11th in the overall ranking. The UK bank, which celebrates its 160th anniversary this year, grew its brand value by 39% to USD27.8 billion.
While banking brands have seen significant brand value growth, overall business value has increased even more sharply (+43%), leading to a drop in brand value as a proportion of market capitalisation from 19% to 14%. This could signal either an upcoming market correction or a conservative valuation of banking brands relative to their financial performance.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
