{"id":10735,"date":"2017-02-06T11:11:00","date_gmt":"2017-02-06T10:11:00","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10735"},"modified":"2017-02-06T11:11:00","modified_gmt":"2017-02-06T10:11:00","slug":"first-bank-gtbank-access-bank-others-among-top-500-globally","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/first-bank-gtbank-access-bank-others-among-top-500-globally\/","title":{"rendered":"First Bank, GTBank, Access Bank others among top 500 globally"},"content":{"rendered":"

First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc, Access Bank Plc and the United Bank for Africa Plc have been named among \u2018The Top 500 Banking Brands\u2019 of\u00a0The Banker<\/em>\u00a0magazine of the\u00a0Financial Times<\/em>\u00a0 and\u00a0Brand Finance,<\/em>\u00a0London, United Kingdom.<\/p>\n

In a statement on Sunday by the Country Representative, Nigeria,\u00a0The <\/em>Banker<\/em>\u00a0magazine, Mr. Kunle Ogedengbe, First Bank led the four other Nigerian banks in the global ranking.<\/p>\n

As a result, First Bank was named The Most Valuable Banking Brand in Nigeria in The Top 500 Banking Brands.<\/p>\n

With $301m brand value, First Bank ranked 357, leading GTB which ranked 395 with a brand value of $258m; Zenith Bank ranked 414 with a brand value of $247m; Access Bank ranked 476 with a brand value of $182m; and UBA with a brand value of $172m ranked 487 in the world.<\/p>\n

According to the Chief Executive Officer,\u00a0Brand Finance,<\/em>\u00a0David Haigh, the brand value is the amount a third party will need to pay in using the brand name.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

As for the methodology of the ranking, the Editor,\u00a0The Banker<\/em>\u00a0magazine, Brian Caplen, was quoted as saying, \u201cBrand Finance<\/em>\u00a0employs a discounted cashflow technique to discount estimated future royalties at an appropriate rate to arrive at a net present value of a bank\u2019s trademark and associated intellectual property \u2013 its brand value.\u201d<\/p>\n

He noted that the approach was used for two reasons: it is favoured by the tax authorities and the courts because it calculates brand values by reference to documented third-party transactions and it can be done based on publicly available financial information.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc, Access Bank Plc and the United Bank for Africa Plc have been named among \u2018The Top 500 Banking Brands\u2019 of\u00a0The Banker\u00a0magazine of the\u00a0Financial Times\u00a0 and\u00a0Brand Finance,\u00a0London, United Kingdom. In a statement on Sunday by the Country Representative, Nigeria,\u00a0The Banker\u00a0magazine, Mr. Kunle Ogedengbe, First …<\/p>\n","protected":false},"author":11,"featured_media":8232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[793,734,1536],"coauthors":[2392,2393],"class_list":["post-10735","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-access-bank","tag-first-bank","tag-gtbank"],"yoast_head":"\nFirst Bank, GTBank, Access Bank others among top 500 globally - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/first-bank-gtbank-access-bank-others-among-top-500-globally\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Bank, GTBank, Access Bank others among top 500 globally - National Wire\" \/>\n<meta property=\"og:description\" content=\"First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc, Access Bank Plc and the United Bank for Africa Plc have been named among \u2018The Top 500 Banking Brands\u2019 of\u00a0The Banker\u00a0magazine of the\u00a0Financial Times\u00a0 and\u00a0Brand Finance,\u00a0London, United Kingdom. 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