Report names Wells Fargo as top-valued bank brand in U.S.
Wells Fargo & Co. on Wednesday was named the most valuable bank brand in the United States, according to The Brand Finance Banking 500 report.
Brand Finance's annual study assesses the dollar value of the reputation, image and intellectual property of financial services companies worldwide.
Wells Fargo maintained its second- place ranking on the list of the world's most valuable brands, posting a value of $23.23 billion. HSBC was ranked the world's most valuable bank brand at $27.5 billion, the report found.
HSBC replaced Bank of America Corp. in the top spot in the world rankings. Bank of America, valued at $22.9 billion, was ranked third overall, and second among U.S. financial institutions.
Other U.S. financial institutions in the top 10 worldwide were Chase ($18.9 billion) ranked fifth, Citigroup Inc. ($18.6 billion) at number six and American Express ($18.2 billion) ranked seventh.
U.S. Bancorp, which is the parent company of U.S. Bank, was ranked 41st in the world with a value of $4.5 billion. Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
