Guangdong Nanyue Bank among Most Valuable Banking Brands
For the first time ever, Guangdong Nanyue Bank made the list of the Top 500 Most Valuable Banking Brands released by the London-based Brand Finance, an independent branded business valuation and strategy consultancy.
According to a brand value analysis, the growth trajectory of Chinese banks, against a backdrop of trade frictions and currency concerns, remains strong thanks to a growing middle class and government support. Led by the Industrial and Commercial Bank of China, Chinese banks dominate the top four spots in the rankings.
The Guangdong Nanyue Bank makes the 2019 list of the Top 500 Most Valuable Banking Brands published by Brand Finance. [Photo/zjphoto.yinsha.com]
Guangdong Nanyue Bank was rated 360th on the list. The bank used to be the Zhanjiang Commercial Bank, but was transformed and renamed in January 1998. After twenty years of development, it now has more than 200 billion yuan ($29.5 billion) in assets.
The bank cracked the list of the Top 500 World Banks by The Banker magazine in 2017, and rose 34 places to 437th in 2018. It reported net profits of 1.42 billion yuan and 648 million yuan in tax payments last year.