Credit crisis wipes billions off the value of banking brands

Internet giants among biggest winners

The worst-hit financial services brands have lost $16bn (£9.7bn) of their value thanks to the last 12 tumultuous months of the banking crisis, a leading survey will say today.

Taken together, the top 100 world brands have lost around 4.5 per cent of their worth since 2008, according to the Interbrand annual league table. But while there have been no movers in the top five spots – ranking Coca-Cola, IBM, Microsoft, GE and Nokia the same as last year – the financial crisis has caused the biggest losses in value since the survey began a decade ago.

UBS was this year's biggest overall faller, losing a staggering 50 per cent of its value to leave the brand worth $4.4bn compared with nearly $9bn last year. The fall took the Swiss bank from 41st place to 72nd in the league. The second biggest drop was Citi, which lost 49 per cent and fell from 19th to 36th. Morgan Stanley was also hit hard, dropping by 26 per cent. Amex lost 32 per cent and fell seven places to 22nd. HSBC lost 20 per cent.

But last year's catastrophe has also had its winners, even in the banking sector. Goldman Sachs held on to its 38th place with a respectable 10 per cent drop in value, and JP Morgan stayed at 37th with an 11 per cent loss. Interbrand is also tipping Barclays, Credit Suisse and Santander – none of which is yet in the top 100 – as names to watch in the future.

Graham Hales, the managing director of Interbrand, said: "There are different stories here about how financial services brands have managed themselves through the crisis. Some of the bank brands have been able to maintain a degree of confidence even in difficult circumstances, where others' lack of confidence is being clearly communicated by the organisation."

Away from financial services, the top-performing brands continue to add millions of dollars to their value. Google – which shot up by 43 per cent last year – was also 2009's fastest riser, adding another quarter to its brand valuation, taking it to 7th place overall with a total value of $32m. "Google is continuing its march up the table," Mr Hales said. "It continues to dominate its market and also continues to innovate, such as the phone about to come out."

The next best performer was Amazon, adding 22 per cent to take it to 43rd position. "Amazon does well as a retailer without a retail footprint, so it benefits from a more efficient business model," Mr Hales said. Zara, the Spanish-owned clothing chain, which jumped by 14 per cent and rose from 62nd to 50th is also boosted by market-leading logistics that takes fashions from the catwalk to the high street faster than its competitors can.

Another big mover was Nestlé, adding $727m or 13 per cent to its value, taking it from 63rd to 58th. And Apple jumped four places up to the league to 20th by adding 12 per cent to take the brand value to $15bn.

While it is little surprise that financial services companies should be faring badly, or that recession-hit industrial sectors such as automotive also show a marked dip, the lift to companies with low-commitment branded products was less expected, according to Interbrand. Not only has Coca-Cola, held on to the top spot – adding 3 per cent to its brand value and taking it to an eye-watering $69m – but Gillette, H&M and Kellogg's have done well through the downturn for similar reasons.

Top-end luxury brands have also held on to the majority of their value, compared with their mid-market counterparts. Ferrari was by far the best-performing automotive brand, maintaining last year's $3.5bn valuation, while the majority of others in the top 100 fell by between 5 and 10 per cent. Harley Davidson was one of the worst losers, dropping a whopping 43 per cent, taking it from 50th to 73rd place.

Start your day with The Independent, sign up for daily news emails
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....

Recruitment Genius: Compliance Manager

£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...

SThree: Talent Acquisition Consultant

£22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...

Day In a Page

John Palmer: 'Goldfinger' of British crime was murdered, say police

Murder of the Brink’s-MAT mastermind

'Goldfinger' of British crime's life ended in a blaze of bullets, say police
Forget little green men - aliens will look like humans, says Cambridge University evolution expert

Forget little green men

Leading evolutionary biologist says aliens will look like humans
The Real Stories of Migrant Britain: An Algerian scientist adjusts to life working in a kebab shop

The Real Stories of Migrant Britain

An Algerian scientist struggles to adjust to her new life working in a Scottish kebab shop
Bodyworlds museum: Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy

Dying dream of Doctor Death

Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy
UK heatwave: Temperature reaches 39.8 degrees on Central Line - the sweatiest place in London

39.8 degrees recorded on Tube

There's hot (London) and too damn hot (the Underground). Simon Usborne braved the Central line to discover what its passengers suffer
Kitchens go hi-tech: From robot chefs to recipe-shopping apps, computerised cooking is coming

Computerised cooking is coming

From apps that automatically make shopping lists from your recipe books to smart ovens and robot chefs, Kevin Maney rounds up innovations to make your mouth water
Jessie Cave interview: The Harry Potter star has published a feminist collection of cartoons

Jessie Cave's feminist cartoons

The Harry Potter star tells Alice Jones how a one-night stand changed her life
Football Beyond Borders: Even the most distruptive pupils score at homework club

Education: Football Beyond Borders

Add football to an after-school homework club, and even the naughtiest boys can score
10 best barbecue books

Fire up the barbie: 10 best barbecue books

We've got Bibles to get you grilling and smoking like a true south American pro
Wimbledon 2015: Nick Bollettieri - Junk balls and chop and slice are only way 5ft 1in Kurumi Nara can live with Petra Kvitova’s power

Nick Bollettieri's Wimbledon Files

Junk balls and chop and slice are only way 5ft 1in Kurumi Nara can live with Petra Kvitova’s power
Ron Dennis exclusive: ‘This is one of the best McLaren teams ever – we are going to do it’

‘This is one of the best McLaren teams ever – we are going to do it’

Ron Dennis shrugs off a poor start to the season in an exclusive interview, and says the glory days will come back
Seifeddine Rezgui: What motivated a shy student to kill 38 holidaymakers in Tunisia?

Making of a killer

What motivated a shy student to kill 38 holidaymakers in Tunisia?
UK Heatwave: Temperatures on the tube are going to exceed the legal limit for transporting cattle

Just when you thought your commute couldn't get any worse...

Heatwave will see temperatures on the Tube exceed legal limit for transporting cattle
Exclusive - The Real Stories of Migrant Britain: Swapping Bucharest for London

The Real Stories of Migrant Britain

Meet the man who swapped Romania for the UK in a bid to provide for his family, only to discover that the home he left behind wasn't quite what it seemed
Cheaper energy on the way, but it's not all sunshine and rainbows

Cheaper energy on the way, but it's not all sunshine and rainbows

Solar power will help bring down electricity prices over the next five years, according to a new report. But it’s cheap imports of ‘dirty power’ that will lower them the most