QNB enters ‘Brand Finance Global 500’ rankings for first time with a value of $3.8 billion. QNB has entered the ‘Brand Finance Global 500’ rankings for the first time with a brand value of $3.8 billion.
The brand value of Qatar’s largest bank by assets rose 56% year-on-year driven by its continued robust financial performance and its successful international expansion. QNB now operates in more than 30 countries across three continents.
Saudi Telecom Company (STC), the kingdom’s biggest operator, is the Arab world’s most valuable brand, while Emirates, the world’s largest airline, continues to be most valuable brand in the United Arab Emirates (UAE), according to Brand Finance’s Global 500. STC of Saudi Arabia moved up to 252nd place in the rankings, making it the Middle East’s most valuable brand. The company’s brand value rose 11% during 2016 to $6.2bn. The increase was primarily driven by STC ‘humanising’ its marketing campaigns, and reengaging with its stakeholders with a fresh, more personable outlook.
Despite an oil slump, the strengthened US dollar and global economic softening that has impacted consumer appetite for air travel globally, Emirates secured 264th place in the rankings with a brand value of $6.1bn. The company’s Brand Strength Index score even increased from 85 out of 100 in 2016 to 87 out of 100 in 2017, securing it a ‘AAA’ rating once again. Brand Strength Index is the part of Brand Finance’s assessment, designed to calculate the underlying strength of a brand. It includes an analysis of marketing investment, brand equity (the goodwill accumulated with customers, staff and other stakeholders) and finally the impact of those on business performance. Etisalat, the biggest of two telecom providers in the UAE, rose to 293rd place, up from 404th place in 2016. The company’s brand value increased 45% on last year to $5.5bn. The rise in value was on the back of growing user numbers, innovation (i.e. Etisalat was the first Middle Eastern brand to trial 5G) and strong profit results in 2016.
Andrew Campbell, Brand Finance Middle East managing director, said, “Middle Eastern brands continue to make their mark in the Global 500. The brand value of the four companies from the region represented in our 2017 ranking grew on average by 23% year-on-year, which reflects the scale of their achievements when it comes to driving brand awareness, recognition and advocacy. We expect more brands from the Middle East to enter our Global 500 in time as oil prices readjust and companies from the region continue to expand into new geographic markets.”