Banks make up five of the ten most valuable brands in Australia
this year, according to a study from Kantar Millward Brown
naming Australia’s 40 most valuable brands. Despite the value of the banking sector declining since the beginning of the Royal Commission, the Commonwealth Bank topped the list with a valuation of approximately AUS$24 billion, ahead of ANZ on AUS$16 billion. Telstra was the highest placed company outside of the banking sector, ranking third with a valuation of AUS$13 billion.
Overall, the combined value of banking sector brands accounted for 51 percent of the top 40's total value, meaning that while the banking sector has been decreasing in brand value, its share of overall brand value has remained stable compared to 2018. This is because other industries in the ranking also suffered, for example telecommunications, food retail and insurance. Bunnings Warehouse was the only brand on the 2019 top 10 ranking to grow its brand value (by a whopping 46 percent). It was also the brand with the biggest value increase in the entire top 40.
The Australian Top 40 list stands out from other nations not just for the concentration of bank brands, but also for its relative lack of technology companies
. This year, fintech company Afterpay made the top 40 list for the first time and was the only tech company doing so (ranked 20th).