Report: Romania’s Banca Transilvania is the third strongest banking brand in the world

Romania’s Banca Transilvania (BT) is the third strongest banking brand in the world according to the Brand Finance Banking 500 2024 assessment, up from seventh place in the last ranking.

The brand value of Banca Transilvania increased by 34% compared to 2023, reaching USD 686.5 million, moving up 44 places in the ranking to position 252. Last year, the bank was at position 297, with a value of USD 513 million.

Banca Transilvania entered the Brand Finance Banking 500 ranking in 2018, at position 486, with a brand value of USD 174 million.

"This is very good news for BT, but also for Romania. Banca Transilvania's position among global banking brands shows us once again the importance of building strong, local brands that can successfully compete with companies that have a very good reputation internationally. This shows that good work can be done here, in Romania," said Ӧmer Tetik, CEO of Banca Transilvania.

Banca Transilvania registered a profit of RON 2.491 billion (EUR 501 million) in 2023, 14% higher than in 2022, and attracted 623,000 new customers, averaging 1,700 per calendar day. Financing companies and the population, increasing operational activity, and attracting new customers were the bank's drivers last year.

“Three African brands, Equity Bank, First National Bank, and Kenya Commercial Bank, as well as Romanian Banca Transilvania all rank amongst the top 5 strongest brands globally, earning AAA+ ratings,” the report says.

The combined value of the world’s top 500 most valuable banking brands has reached a record level of USD 1.44 trillion, almost double what it was a decade ago, according to the new report from Brand Finance, the world's leading brand valuation consultancy. The Chinese banking sector demonstrates a notable recovery, with the 'big four' banks remaining well ahead of their US counterparts. ICBC (Industrial and Commercial Bank of China) maintains its position as the world's most valuable banking brand for the eighth consecutive year, boasting a 3% rise in brand value to USD 71.8 billion.

Despite experiencing a minor decline (4%) in brand value, Bank of America retains the title as the leading US banking brand for the fourth consecutive year and is ranked fifth position overall, boasting a value of USD 37.3 billion.

(Photo source: company photo)