Access Bank ranked Nigeria’s most valuable brand

Access Bank Plc.has again been ranked Nigeria’s most valuable brand by Brand Finance, a leading brand valuation consultancy.

Mr. Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc., said in a statement on Sunday that the bank was proud of the feat and would continue to deliver exceptional value.

“We are proud to, once again, be recognised as Nigeria’s most valuable brand. This accolade is a testament to our commitment to excellence, innovation, and sustainable growth.

“We will continue to focus on delivering exceptional value to our customers and stakeholders, driving positive impact across the communities we serve,” he said.

The 2024 Brand Finance Report showed a 73 percent increase in Access Bank’s brand value.

According to the report, the increase solidified the bank’s position as the most valuable banking brand in Nigeria.

The 2024 rankingmarks the third consecutive year that Access Bank has held the top spot in Brand Finance’s annual ranking of the world’s top 500 banking brands.

Brand Financeadded that Access Bank’s brand value soared to N355.3 billion, making it the 31st most valuable brand in Africa.

It said that the growth was primarily driven by significant increases in interest-based income, reflecting improved revenues and robust financial performance.

Brand Finance also said that banking brands contributed 50 percent of the overall brand value among Nigeria’s top 25 brands.

It stated that among Nigeria’s top 25 brands, banking brands not only emerged as the most valuable but also the strongest and fastest-growing.

Mr. Babatunde Odumeru, Managing Director of Brand Finance Nigeria, praised the resilience of Nigeria’s leading brands.

Odumeru said:“Despite a tumultuous financial year, Nigeria’s leading brands have displayed remarkable resilience.

“These top-tier brands have not only withstood economic pressures, but many have continued to flourish, with 23 of Nigeria’s top 25 most valuable brands achieving brand value growth.

“We are also increasingly seeing top brands continuing to expand beyond their domestic borders and grow their influence across the continent.”

The values of brands in the rankings are calculated using the royalty relief approach, a method compliant with ISO 10668 standards.