Sberbank is most valuable and strongest Russian brand, according to Brand Finance
4 July 2019, Moscow — International rating agency Brand Finance has drawn up its annual ranking of leading Russian brands. Sberbank was again recognised as the country’s most valuable brand. According to the ranking, Sberbank’s brand value increased by 26% to RUB 842.2 bln. The brand received an AAA+ rating.
Sberbank was also recognised as the strongest brand in Russia with a BSI score of the 93.1 out of 100. Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, awareness, preferences, staff satisfaction and corporate reputation. Along with the level of revenues, brand strength is a crucial driver of brand value. According to these criteria, Sberbank is the strongest brand in Russia and the second strongest brand in the world, just after Ferrari.
Vice President and Marketing Director at Sberbank Vladislav Kreynin:
“Sberbank leads Brand Finance — one of the most prestigious international rankings — for the third year in a row. This is an assessment of our team’s work as many factors influence brand value such as business performance, services, product line, and marketing activity. For us it is motivation to move faster, implementing our strategy as the most innovative, customer-oriented and reliable brand in the country.”
According to Brand Finance, the three pillars of Sberbank’s brand success are innovative solutions, focus on customer experience, and improved business effectiveness. For example, an agreement between SberCloud (a subsidiary of Sberbank) and NVIDIA, reached at the St. Petersburg International Economic Forum, will enable development and implementation of AI in the Russian banking sector. In customer experience, Sberbank is also leading the way as access to loans has increased with one-day turnaround for applications. Finally, growth in retail loans and the mortgage portfolio have contributed to Sberbank’s healthy financial performance which is reflected in brand value improvement.
CEO of Brand Finance David Haigh:
“Sberbank’s high-quality services and products create the kind of loyalty that results in long-term customer relationships. Unparalleled within Russia, the bank can deepen its relationship with customers and extend into new products, services and even industries.”
The complete ranking is available on Brand Finance’s website.
In January 2019, Sberbank topped Brand Finance’s ranking of the strongest banking brands in the world, ahead of competitors from China, the US and Western Europe.