It is reported that the British magazine, The Banker, published the Top 500 Global Finance Brands list which was arranged by brand value. ICBC ranked 16th with the brand value of USD 8.247 billion, and it was on the top position among the selected Chinese commercial banks.
It is reported that during the remark, Brand Finance, a British brand consultant firm, evaluated and ranked the listed finance brands in the global 32 largest stock markets. Brand Finance adopted discount cash flow method to discount the evaluated brand's chartered right with appropriate discount rate to get the brand's value respectively.
Brand Finance thought that ICBC was selected into the list because it benefited the fast developing service and the good business achievement during the recent years. At the same time, some factors, such as ICBC purchasing Fortis Hongkong branch bank to establish ICBC (Asia) in 2005, coming into the market in Hongkong and Shanghai on the same day in 2006, acquisition of South Africa Standard Bank Group Ltd in 2007, ICBC's market value exceeding over Citibank to become the global largest market value bank, etc promoted the brand value.
Brand Finance is an independent consultant company working on brand management and brand evaluation. The headquarters of Brand Finance is in London and it has representative offices in several big cities in the world. The Banker magazine was founded in 1926. It's an internationally-known finance magazine and belongs to the British Financial Times Group.
