The announcement that Standard Bank Group has been independently ranked as the most valuable banking brand in South Africa is a tribute to the efforts of our employees who constantly strive to move our customers forward, says Sarah-Anne Orphanides, the group's global marketing head.
Standard Bank Group was ranked the most valuable banking brand in South Africa in the 2011 BrandFinance Banking 500, a ranking published in leading global banking journal The Banker.
Standard Bank shot up the globalrankings from position number 105 in 2010 to position 77 in 2011 with a brand value of $2.3-billion, 31 places and $400-million ahead of its nearest domestic competitor.
Says Ms Orphanides: "It's an honour for Standard Bank to be independently evaluated and ranked as best South African bank for brand value, and to improve our position in the global ranking. This award is the result of many factors, the most important of which is the focus of our people and the service that they provide to our customers and clients in South Africa and on the continent. This has been achieved inspite of the challenges employees faced in 2010."
As a South African headquartered bank with subsidiaries in 17 African countries, Standard Bank is uniquely positioned to service clients doing business on the continent. This award bears testimony to this competitive advantage.
"This ranking is a reflection of the value created in delivering what is important to our customers in different segments and markets as that is what ultimately differentiates banks and builds value in a brand," says Ms Orphanides.
She says evidence of improving service quality has been tangible for at least the past two years when Standard Bank was independently rated as number one for customer service in the Orange Index, an annual survey of consumers.
"The benefit of our long-standing commitment to moving our customers forward is increasingly evident and injects extra value into our relationship with customers. This enhances brand value, a measure of commitment and loyalty to Standard Bank," says Ms Orphanides.
"Whatever we do should help the customer advance in some way. Merely completing a routine activity or facilitating a complex transaction is only really worth something if we are assisting our customers and clients in their needs and delivering on their expectations. Their experience with us should be consistent and buildover time," says Ms Orphanides.
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