CommBank has claimed the title as the sole Aussie brand included in the Kantar BrandZ Top 100 Most Valuable Global Brands ranking for 2024.
The list, which continues to be topped by Apple, saw the bank rank #82 overall and #14 out of 20 in the financial services category.
“We are thrilled to be recognised as Australia’s most valuable brand and be ranked among global leaders,” said CommBank CMO, Jo Boundy.
“CommBank’s commitment to building a brighter future for all Australians drives our focus on creating more meaningful and rewarding customer experiences. This recognition is a credit to our hard-working teams’ over many years. We will continue to listen, innovate, and add value for our customers.”
The annual Kantar BrandZ Top 100 Most Valuable Global Brands valuation ranking and report is based on the opinions of over 4.3 million respondents on roughly 21,000 brands spanning 532 categories. Its brand valuation methodology combines financial analysis with measures of brand equity.
Since its 2006 launch, the brand value of the Global Top 100 has surged by 474%, bumping the entry threshold by 354% – from $4 billion to $19 billion. This year, the Global Top 100 rebounded by 20% to $8.3 trillion, nearing the 2022 peak of $8.7 trillion.
Kantar Australia’s head of brand strategy Ryan France said he was pleased to see an Australian brand recognised on this global stage, especially in a tough economic environment.
“The best-performing Financial Services brands are winning through customer orientation,” he said.
“Brand value growth in the financial services category was most strongly related to ‘meaningful’ perceptions. In this category, being meaningful means meeting customer needs and being emotionally approachable. It means offering a good range of products and services. And it means being trusted in a world where there is increased scrutiny on the financial services industry.”
He said what made CommBank’s performance as a legacy brand was notable for continuing to strengthen its “meaningful difference” in the minds of consumers.
“These are usually the brands facing challenges, and challengers, coming at them from all directions,” France continued.
“However, CommBank shows us that these well-established brands can not only survive but thrive. By being an innovation leader, and thinking bigger than their category, CommBank is evolving its leadership role. That’s what big brands need to do to stay ahead, and CommBank gives us a great case study that we can all learn from.”
In May, independent creative studio Supermassive announced a partnership with CommBank’s venture scaler, x15ventures, to launch the app Truyu.
Available on the App Store and Google Play Store, Truyu is an Australian-first digital protection tool that issues alerts when a user’s identity is deemed at risk or is being misused online at major merchants.
See also: Exclusive: CommBank launches Truyu via Supermassive