Monday, February 3, 2014

Wells Fargo has world's most valuable bank brand

The stagecoach is apparently worth its weight in gold. Wells Fargo has been named the most valuable bank brand in the world, according to a ranking from Brand Finance.

The San Francisco bank's branding is worth more than $30 billion, the consulting firm estimated. That's up more than 16 percent from last year as loose monetary policy aided markets and the economy. Wells also has a more favorable reputation compared to peers, Brand Finance notes. Bank of America and JPMorgan Chase, in particular, have felt the weight of massive legal settlements and investigations over the past few years.

British banking giant HSBC came in second in the world rankings, with a brand value of $26.9 billion. Bank of America was close behind at $26.7 billion. The Charlotte bank had one of the largest jumps in brand value in the past year as its net income and stock price increased. Bank of America finished 2013 with the most profitable year it's had since the financial crisis.

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