Bank of America Top Bank Brand, Goldman 16th

BAC, GS, C, HBC, WFC, JPM

Bank of America Corp (NYSE:BAC)., the biggest US bank by assets, replaced HSBC Holdings Plc. (NYSE:HBC) as the World’s most valuable banking brand, according to a survey by London- based Brand Finance Plc.

HSBC, Europe’s largest bank, fell to third place this year behind Charlotte, North Carolina-based Bank of America and San Francisco-based Wells Fargo & Co. (NYSE:WFC), the 4th biggest US lender by assets.

Goldman Sachs Group Inc.(NYSE:GS) fell to 16th place from 7th.

Brand Finance, started in Y 1996, calculated the value of each banks’ brand using the so-called royalty relief method, which estimates the notional price a company would have to pay for the brand.

Bank of America’s brand was valued at US$30.6B, Wells Fargo’s at US$28.9B and HSBC’s at US$27.6B, the survey found.

Spain’s Banco Santander SA ranked 4th, New York-based JPMorgan Chase & Co. (NYSE:JPM) 5th, Brazil’s Banco Bradesco SA 6th and London-based Barclays Plc 7th.

Industrial & Commercial Bank of China Ltd. ranked eighth, New York-based Citigroup Inc.(NYSE:C) was 9th and China Construction Bank Corp was 10th, according to the survey.—Paul A. Ebeling, Jnr. www.livetradingnews.com

Posted by Shayne Heffernan on Feb 1st, 2011and filed underEquities, Latest News, Markets, News & Events, USA.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site

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