Saturday Nov 16, 2024
Saturday Nov 16, 2024
Tuesday, 16 June 2020 00:38 - - {{hitsCtrl.values.hits}}
A new entrant to Brand Finance’s much-awaited annual review of Sri Lanka’s 100 most valuable brands, SDB bank surpassed many of the country’s biggest business names and banks on its way to the top 50 of the illustrious list’s 100 best-performing brands. The bank earned the additional distinction of securing the top spot among all first-time entrants in 2020.
Brand Finance Sri Lanka’s 17th annual review featured a number of familiar names in addition to first-time inclusion SDB bank. The bank’s leveraging of business growth through improved brand value is seen to be a key factor for their top-50 rank in the global brand valuation consultancy’s 2020 Top 100 list.
SDB bank’s ranking in Brand Finance’s annual review is made all the more commendable by its surpassing of a number of significantly larger banks. The bank’s brand valuation of Rs. 2,029 million is set to add immense long-term value to its brand in driving further financial growth.
The comprehensive brand refresh effected by SDB bank towards end-2019 and the early part of 2020 contributed heavily to this valuation. From adopting an umbrella brand strategy in consolidating its sub-brands under the parent brand, opening of new-look branches islandwide, and significant investment across digital advertising media, to a revamped internal branding effort, the bank’s brand revamp has allowed for greater alignment with its financial objectives.
Firmly on course with the bank’s 2020 Business Strategy, SDB bank’s CEO Thilak Piyadigama and its corporate team had identified being ranked in Brand Finance’s Top 100 brands as a key goal in its ambitious overall strategy for 2020.
The CEO added: “The increased brand confidence this valuation adds to SDB bank will naturally differentiate us from other bank brands, allowing us increased marketing leverage and critical points of differentiation in driving our business goals for 2020 and beyond.”
In addition to boosting brand and customer confidence, the ranking will prove beneficial in improving the bank’s already impressive investor portfolio which includes first-rate institutions such as the International Finance Corporation, a member of the World Bank Group; FMO, a Dutch development bank; and SBI Holdings, a Japan-based financial services group.
The enhanced corporate standing will allow a transformational SDB bank to attract and secure large-scale global investment in further consolidating its position as one of the country’s top banks.
