For the seventh consecutive year, HDFC Bank holds the title of the Most Valuable Brand in India as per the BrandZ ranking. The Bank is estimated with a Brand value of $20.3 billion this year, which is however 11% Lower than the previous year.
This year’s ranking was valued $216 billion which is also low by 6% compared to the previous year’s value. The drop is largely due to the slowdown in the Brand value of companies in the Banking and Automotive sector.
Banking, financial services and insurance (BFSI) hold the top 10 spots this year, with LIC at No 2 ranking with a brand value of $18.3 billion, registering a decline of 9% over 2019. Whereas Kotak Mahindra hold the 6th spot with a brand value of f $7.2 billion and a decline of 6% YoY.
The India’s Biggest Public sector bank SBI however has declined by 36% to 10th Spot from number 5 position followed by ICICI at 11 from 10th Spot with a decline of 11% of its Brand value. Together, banking and insurance brands commanded 31% of the Top 75 ranking.
B2B technology service providers like TCS holds the number 3 spot at a brand value of $14.6 billion and Infosys at no 12 with a brand value of $4.5 billion. which its spot to telecom providers and became the fourth largest category with a total valuation of $22.3 billion.
The BrandZ ranking combines market data from Bloomberg with 3.8 Million consumers globally, covering more than 17k brands in 51 different sectors. It also includes the opinion of 1.2 lakh Indian consumers on 1140 brands in 89 categories.