· Brand value jumps 5% to $22.7 billion in 2019, ranks 1st for 6th year in a row
· Survey conducted by Kantar Millard Brown from WPP group
Mumbai, September 27, 2019: HDFC Bank has been ranked India’s Most Valuable Brand for the 6th consecutive year. This ranking is the result of a survey conducted by Kantar Millward Brown, a group company of global communication services behemoth, WPP. Known as the ‘2019 BrandZ™ Top 75 Most Valuable Indian Brands’ the survey values the HDFC Bank brand at $22.7 billion, a 5% increase over the previous year.
“HDFC Bank has demonstrated the rewards of maintaining a forward-thinking and innovative outlook, with its consistent focus on exceeding the changing needs of its customers. With new financial products, an ongoing drive towards digital banking and new branches set-up throughout the country, the bank grew 5% in brand value to $22.7 billion,” wrote BrandZ in its report on HDFC Bank.
HDFC Bank’s brand value has grown consistently over the past 6 years, from $9.4 billion in 2014 to $22.7 billion in 2019. This year the study covered 1,000 Indian brands across 80 categories with insights from 3.7 million consumers.
“As India flexes its muscles on the world stage, it faces increased macroeconomic headwinds which have combined with a rise in global trade tensions to create a challenging environment,” said Mr. David Roth, CEO of The Store WPP, EMEA and Asia; and Chairman of BrandZ. “Successful Indian brands are adapting to these challenges and recognising that longevity requires them to do more than just disrupt the status quo; long-term brand building requires new strategies that major on stability.”
HDFC Bank has also featured five times consecutively in the Top 100 global brands list. The Bank has retained its 60th rank over the last two years. The prestigious global list is topped by Amazon. Other brands in the top 10 are Apple, Google, Microsoft, Visa, Facebook, Alibaba, Tencent, McDonalds and AT&T in that order.