Although the cumulative brand value of Swiss banks has fallen slightly, some institutions have increased their brand value substantially.

Switzerland is perceived as the country of banks so since its banking sector is one of the most important in the world. Yet in terms of brand value, Swiss financial institutions lag far behind in the international ranking of the most valuable bank brands, an evaluation by «The Banker» and «Brand Finance» shows (behind paywall). Banks from China and the US have by far the highest brand value.

The top 500 Banking Brands have increased in value for the second year in a row in 2023, reaching their highest valuation ever at $1.41 trillion. Even so, the 2.4 percent increase was significantly lower than the 8.7 percent increase in 2022.

UBS Moves Up

In the ranking of the 500 most valuable banking brands, UBS appears as the first Swiss institution in 33rd place, having moved up three ranks compared to the previous year. For crisis-ridden Credit Suisse, on the other hand, the numerous negative headlines have led to a lower ranking. It dropped from 49th to 54th place. Julius Baer suffered a similar fate and is now ranked 148 from 140.

Among European institutions, UBS is ranked 6th, led by HSBC, and followed by Santander and Barclays.

For the seventh consecutive year, the state-owned Industrial and Commercial Bank of China (ICBC) is the world's leading banking brand with a value of $69.5 billion. Its value is more than three times the combined brand values of UBS at $9.8 billion, Credit Suisse's $5.6 billion, and the Julius Baer brand valued at $1.7 billion.

Credit Suisse Scandals Weigh

The extent to which the numerous scandals and negative reports are weighing on Credit Suisse's image is reflected in the significant drop in brand value. While UBS was able to increase its brand value by around 3.3 percent from the previous year, it fell by 15.9 percent at Credit Suisse. Julius Baer saw its brand value fall by just under 1 percent.

UBS also has an excellent brand name internationally in the asset and wealth management category. The Swiss bank came in fourth behind US institutions Merrill Lynch, Goldman Sachs, and JP Morgan,  with a brand value of almost $5.6 billion. Among European names, only the British bank HSBC in 8th place broke into the fortress of the American and Canadian banks.

No Swiss bank ranks among the leaders in investment banking whereas US banks dominate ahead of their Chinese counterparts. No European firm cracked the top ten.

ZKB and Pictet Rising

Other Swiss banks achieving a valuation of more than $1 billion are Zuercher Kantonalbank's $1.2 billion, ranking it 179th, and private bank Pictet with a $1.1 billion valuation is ranked 195th). In neighboring Liechtenstein, LGT is the most valuable name at $536 million putting it at 290 on the list. ZKB increased its brand value by almost 17 percent, and Pictet by 12.8 percent. LGT, on the other hand, suffered a loss of 3.4 percent compared to the previous year.

Other Swiss financial institutions making the top 500 include Vontobel, Lombard Odier, J. Safra Sarasin, EFG International, and Luzerner Kantonalbank (LUKB), with values ranging from $316 million (LUKB) to Vontobel's $485 million.

China Leads the US

The most valuable bank brands are all in the People's Republic of China. ICBC leads ahead of its state-owned competitors China Construction Bank, Agricultural Bank of China, and Bank of China. However, ICBC's brand value has shrunk by 7 percent year-on-year. According to «Brand Finance,» the decline is mainly due to decreased brand strength and the weakening of the yuan against the dollar. ICBC's direct competitors posted similar declines.

Behind them are US institutions, and the five largest banking brands there, four increased their value last year: Bank of America, Wells Fargo, JP Morgan, and Chase. Citi was the only major US bank in the top 10 to suffer a drop, declining eleven percent in value. That result dropped it three places to ninth in the world rankings.

Brazil overtakes Switzerland

China tops the country rankings ahead of the US and Canada. From Europe, only the UK, France, and Spain made it into the top 10, with Switzerland dropping one place to 11th. The cumulative brand value fell by 1 percent year-on-year to $22.5 billion, but Brazil in particular made strong gains. With an increase of 31 percent to around $24.6 billion, it moved up three places, overtaking Switzerland.

Although Asia-Pacific remains the region with the highest brand value according to the evaluation, the total value of brands declined by 1.9 percent compared to the previous year, mainly attributable to China. Other countries in the region were able to increase their brand value, with Singapore recording a 17 percent increase in total brand value.