FNB ranked SA's strongest brand by Brand Finance

The accolade is testament to the success of the bank's strategic decision to refresh its brand in 2022

07 May 2024 - 09:11
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FNB chief marketing officer Faye Mfikwe. Picture: FNB
FNB chief marketing officer Faye Mfikwe. Picture: FNB

After its brand overhaul in 2022, First National Bank (FNB) has been named the Strongest Brand in SA by Brand Finance, boasting a brand strength score of 92 out of 100. 

Brand Finance provides annual analysis on both the Most Valuable Brand and Strongest Brand in the country.

According to Brand Finance, the decision to award the Strongest Brand in SA accolade to FNB was determined by a combination of factors, including the bank's strategic shift towards positioning itself as more advisory-focused, rather than merely product-orientated.

The strength of the brand within the country was further evidenced by its high levels of familiarity and consideration among consumers.

Lastly, the bank's strategy that has enabled it to maintain a pervasive presence, ensuring it remains top-of-mind among South Africans.

FNB's chief marketing officer, Faye Mfikwe, says: “Our brand refresh in 2022 was a pivotal moment and has borne fruit. Our unwavering promise of help has resonated deeply with our customers, forging a powerful connection that transcends transactional boundaries. We now proudly occupy the top spot in brand love, a testament to the effectiveness of our engagement strategy, which weaves emotional resonance, loyalty and trust into the fabric of our brand.

Our brand refresh in 2022 was a pivotal moment and has borne fruit
Faye Mfikwe, FNB's chief marketing officer 

“For over 185 years, we have been in the business of helping people. Whether it’s enabling them to reach their potential, realise their dreams, ease their daily lives or safeguard their futures, our commitment remains unwavering. We are not just a bank; we are a force for positive change.

“Our advice-led approach to financial services offers customers the full benefits of personalised help across our range of solutions. This helps customers make more informed decisions about their finances, such as identifying potential financial risks and opportunities. Overall, our aim is to help customers achieve their goals and aspirations by improving their financial wellbeing.”

FNB's commitment to partner in building sustainable communities has also contributed to its strong brand. The bank has implemented various initiatives to support sustainable development, with an emphasis on environmental and social responsibility.

Over the years, FNB has increased its efforts to broaden financial inclusion across the African continent, investing in local markets to open purpose-built branches and other points of presence.

Similarly, there have been strong partnerships with local businesses through agile business models that enable communities and the bank to derive shared value. 

Additional global accolades the bank has received in recent years include Global Finance's award for the Best Mobile Banking App in Africa in 2022 and 2023, and Ask Afrika's Icon Status Award for the popular send-money solution, FNB eWallet, in 2022 and 2023.

In 2012, FNB was recognised as the Most Innovative Bank in the World at the BAI — Finacle Global Banking Innovation Awards. 

This article was sponsored by FNB.


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