Mumbai: Private bank HDFC Bank has added another feat to its cap. The Mumbai headquartered bank has emerged as one among the top 100 brands in a list released by BrandZ.
Ranked at number 60, the bank's brand valuation is estimated at $20.8 billion.
Some of the popular names in the list includes the likes of Google, Apple, Amazon, Microsoft, Tencent, Facebook, Visa, McDonalds, Alibaba, and AT & T.
Among the banking category some of the popular names include Citi Bank, as well as the Industrial and Commercial Bank of China, but their practices are largely towards trade banking. HDFC bank by comparison, offers a multitude of services in addition to trade, corporate banking.
This is the fourth time in a row that HDFC Bank has been featured in the top 100 global brands list. The increase in brand value has pushed the bank's rank 3 notches up to 60 from its last year' rank of 63.
A graph explaining the rise in HDFC Bank's Brand Valuation and the corresponding Brand Rank.
BrandZ research covers two million consumers and more than 10,000 different brands across 30 countries. The only brand valuation methodology of its sorts, the agency obtains customer viewpoint by conducting worldwide on-going, in-depth quantitative consumer research, building up a global picture of brands on a category by category and country by country basis.
Post the announcement, HDFC Bank released a video. Here is the video for our readers:
HDFC Bank with 43 million customers, 4787 branches, 12635 ATMs across 2691 Indian towns and cities is considered among India's finest private banks.
The listing spoke in great detail about Chinese companies outgrowing their US competition. "The total value of China’s Top 10 grew year-on-year by +47%, more than double that of the US brands (+23%)," reads the report.
It further added that parts of the world such as India and Indonesia too showed strong regional growth.
Besides the bank, there is another Indian company that entered BrandZ's other list. Maruti Suzuki entered the top 10 cars category for the first time.