4 Nigerian banks among top 500 banking brands in the World

   

  The ranking as published in the February edition of The Banker magazine of the Financial Times Group in conjunction with London-based Brand Finance showed Wells Fargo of the United States of America retaining the number one banking brand in the world for four consecutive year.

    First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc and United Bank for Africa also named among the world’s top 500 banks.

 First Bank of Nigeria in 320th position out of 500 top banks in the world in 2016
 Guaranty Trust Bank in 389th position in the world from 417th in 2015
 Zenith Bank dropped from 388th to 392nd position in the world in 2016
 United Bank for Africa is in the 447th position.

   A statement by the Country Representative of The Banker magazine in Nigeria, Mr. Kunle Ogedengbe, noted that First Bank’s brand value increased to $322m in 2016 from $300m in 2015 while that of GTB also increased to $243m from $213m.A brand value is the licensing rate that a third-party would need to pay to use the bank’s brand.