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DBS, OCBC, UOB dominate Singapore's most valuable brands for 2017
THE three local banks - DBS, OCBC Bank and UOB - continue to dominate Singapore's top 3 most valuable brands for 2017.
According to 'Brand Finance Singapore 100' on Monday, DBS, with US$5.4 billion brand value, holds pole position for the fifth consecutive year.
OCBC and UOB again finish second and third, with a brand value of US$3.64 billion and US$3.62 billion respectively. UOB is the most improved brand by absolute value, with its brand value increasing US$856 million, and closing the gap with OCBC.
"The 3 banks have contributed 30 per cent of the total brand value in Singapore, up from 27 per cent last year,'' said David Haigh, Group CEO of Brand Finance Plc.
Total value of Top 100 Singapore brands in 2017 has increased to US$42.6 billion, up 4 per cent from US$41.1 billion in 2016.
National carrier Singapore Airlines saw its ranking drop to number 6 in 2017, from 4th position in 2016 due to weakening of brand strength and weaker business performance. Its brand value fell to US$1.63 billion, from US$2.55 billion in 2016.
Singtel, which was ranked 6th in 2016, is now at 5th position. The telco has seen its brand value expand to US$2.63 billion this year, from US$2.42 billion last year.