First National Bank (FNB) has been adjudged the ‘Strongest Banking Brand’ in the World, a title conferred on it because of its advice-oriented approach on financial services in the Brand Finance Banking 500 2023 report.
According to the company’s CEO, Jacques Celliers, FNB’s continued success is based on their commitment to platform innovation and advice-led financial services.
“Our advice-led approach to financial services offers customers the full benefits of personalized help across our range of solutions. This helps customers make more informed decisions about their finances, such as; identifying potential financial risks and opportunities.
“Overall, our aim is to help customers achieve their goals and aspirations by improving their financial well-being. Our success over the 185 years of our brand’s existence is also due to our customers’ high levels of trust and loyalty, and this is something we deeply cherish.”
Celliers
Further explaining the reason for the bank’s commitment, Faye Mfikwe, Chief Marketing Officer (CMO) of FNB said the recent efforts of the bank to refresh its iconic brand, interfaces and value propositions were not only designed to address the needs of their customers but also widen the scope of the brand’s appeal and equally transcend geographical boundaries.
“This accolade gives us the impetus to continue making a difference in the lives of our customers and the communities we serve. Furthermore, we believe that a one-of-a-kind global recognition such as this one can be instrumental in inspiring hope to people on our continent about the limitless possibilities when we all strive to be ‘changeables’ at heart.”
Mfikwe
The country CEO of FNB, Warren Adams said while highlighting the bank’s far-reaching impact in Africa that, its commitment to partner in building sustainable communities has also strengthened the company’s brand. The bank, he added has put in place various measures to encourage sustainable development, focusing more on environmental and social responsibility.
“Over the years, First National Bank has increased its efforts to broaden financial inclusion across the African continent, investing in local markets to open purpose-built branches and other points of presence.
“Similarly, there have been strong partnerships with local businesses through agile business models that enable communities and the bank to derive shared value. Key among these is the expansion of our unmatched services beyond our owned brick-and-mortar structures with our Agency Plus partners.”
Adams
These Agency Plus partners, Warren Adams said have become FNB’s next door – accessible within the community to assist customers complete many fundamental transactions in real-time.
In his submission, Jeremy Sampson of Brand Finance mentioned that the survey has been conducted in a very important period for businesses where brands are confronted with global uncertainty.
In this regard, he noted that to an extent, the models of Brand Finance can become a yardstick for brands that are driven building a sustainable business and future.
“We’re pleased to once again see that brands on the African Continent continue to make their presence felt across the world…The strongest brand accolade is highly contested, which means, any brand that emerges at the top can be proud of its efforts.”
Sampson
All these submissions came after FNB emerges as the leader among the world’s 500 largest banks, with an impressive Brand Index Score of 93%, an AAA+ rating and a brand value of $1.5 billion.
‘Strongest Banking Brand’ determination process
The determination of the strongest banking brand involves an independent brand valuation where scores of independent measures are informed by brand investment – products, service and innovation; brand equity and financial performance.
FNB has seen great improvement across several metrics; positive brand sentiment and various financial performance measures in the 2023 rankings.
Additionally, the bank’s ability to cope under changing market conditions and consumer preferences has earned it the strongest banking brand title.
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