HDFC Bank is India’s Most Valuable Brand: Report
HDFC Bank is India’s most valuable brand, according to a report released by marketing and brand consultancy Millward Brown in conjunction with communications group WPP. The BrandZ Top 50 Most Valuable Indian Brands ranking values HDFC Bank at $9.4 billion or Rs. 56,400 crore ($1=Rs. 60).
HDFC Bank is India’s third largest lender by assets.
“HDFC Bank has a network of over 3,400 branches and 11,250 ATMs (automated teller machines) in more than 2,100 cities. It is popular with its 28 million customers for launching mobile apps designed to make banking easier, and running literacy, education and skills training programmes in rural areas,” WPP said, which calls itself the world’s largest communications services group.
Airtel, India’s largest telecom operator by subscriber base with nearly 300 million customers came second in the rankings while India’s largest lender SBI (State Bank of India) came in at number three in the rankings.
The combined brand value of the BrandZ Top 50 Most Valuable Indian Brands is almost $70 billion or Rs. 4.2 lakh crore. Services businesses (Banking, Telecoms and Insurance) are prominent in the ranking with seven of the top 10 brands, and 30 per cent of the top 50 brands, coming from the service sector. Financial services stand out, with the 12 banks and insurers in the ranking holding the largest proportion (37 per cent) of total brand value.