Sberbank Claims Global Banking Prize Without Actually Receiving It

Russia’s biggest bank, Sberbank, has been named by Brand Finance as the strongest banking brand in the world, the bank said in a statement, according to RIA news agency.

“Sberbank was named strongest banking brand in the world by Brand Finance. This is the first time a Russian banking brand has been recognized as the strongest in the world,” the bank said on Tuesday, referring to the leading independent branded business valuation and strategy consultancy.

Sberbank claims the title of the world’s strongest banking brand, with a score of 93.1 out of 100 and an AAA+ rating, said Brand Finance, a leading independent branded business valuation and strategy consultancy.

“Sberbank’s high-quality services and products create the kind of loyalty that results in long-term customer relationships. Unparalleled within Russia, the bank can deepen its relationship with customers and extend into new products, services and even industries,” according to David Haigh, CEO of Brand Finance.

Sberbank’s CEO, Herman Gref, was ranked 69th in the Brand Guardianship Index 2019, the Brand Finance ranking read. At the same time, Russian energy giant Gazprom climbed 75 positions and is now in 242nd place. Lukoil went up by 11 points to 356th place, according to the ranking.

Tech giants Amazon, Apple and Google retained their leadership as the world’s most valuable brands.

Brand Finance determines the strength of a brand through a set of metrics evaluating business performance, customer loyalty, marketing investments and other criteria.