The BrandFinance® Global 500

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Rank					Brand Value (USD $ Millions)		Brand Rating		Market Cap (USD $ Millions)
2010	2009	Logo File	Name	Country	2010	2009	2010	2009	2010	2009
1	1		Walmart		41,365	40,616	AA	AA	210,390	200,913
2	5		Google		36,191	29,261	AAA+	AAA	184,969	93,576
3	2		Coca-Cola		34,844	32,728	AAA+	AAA+	132,543	101,079
4	3		IBM		33,706	31,530	AA	AA	165,974	112,018
5	4		Microsoft		33,604	30,882	AAA+	AAA+	261,135	170,884
6	6		GE		31,909	26,654	AA+	AA	170,573	138,021
7	8		Vodafone		28,995	24,647	AAA	AAA	121,135	103,978
8	7		HSBC		28,472	25,364	AAA+	AAA+	193,794	131,577
9	9		HP		27,383	23,837	AAA-	AA+	116,325	82,900
10	10		Toyota		27,319	21,995	AAA	AAA	139,699	115,150
11	14		AT&T		26,585	19,850	AA+	AA+	162,868	147,296
12	11		Bank of America		26,047	21,017	AAA+	AAA	111,754	71,228
13	41		Santander		25,576	10,840	AAA+	AA	128,087	54,881
14	15		Verizon		23,029	18,854	AA	AA	93,770	83,851
15	23		WELLS FARGO		21,916	14,508	AA	AA	131,225	108,691
16	19		Budweiser		21,279	16,692	AAA-	AAA-	80,608	-
17	20		Tesco		20,654	16,408	AAA-	AA+	55,600	39,812
18	12		McDonald's		20,192	20,003	AAA-	AAA-	68,259	65,424
19	18		Walt Disney		20,053	16,750	AAA	AAA	56,166	38,649
20	27		Apple		19,829	13,648	AAA-	AA	179,880	71,817
21	13		Nokia		19,558	19,889	AAA-	AAA-	48,002	54,660
22	24		The Home Depot		19,013	14,310	AA-	AA-	46,637	38,385
23	28		Samsung		18,925	13,541	AA+	AA	93,796	50,445
24	16		China Mobile		18,673	17,196	AA+	AA+	185,378	178,833
25	17		Orange		18,352	16,799	AA	AA	67,056	65,992
26	220		Mitsubishi		17,805	3,002	AA+	AA-	39,145	23,652
27	30	-	Shell		16,997	12,376	AAA-	AAA-	185,196	153,027
28	56		NTT Group		16,989	9,649	AA+	AA+	65,061	78,593
29	25		Intel		16,642	13,976	AA+	AA	106,022	74,361
30	26		BMW		16,616	13,659	AAA-	AAA-	30,974	16,517
31	45		AXA		16,403	10,213	AA-	A+	55,408	37,922
32	21		Pepsi		15,991	15,034	AA+	AA-	97,091	79,442
33	37		L'Oréal		15,890	11,234	AAA-	AAA-	65,857	42,964
34	22		Nike		15,808	14,583	AAA	AAA-	31,602	22,253
35	31		Target		15,224	12,253	AA	AA	35,007	25,850
36	66		Siemens		14,709	8,209	AA+	AA+	92,201	51,860
37	54		Citi		14,362	9,810	A+	A	70,105	36,498
38	58		BNP Paribas		14,060	9,360	AA	AA-	67,144	49,480
39	89		Goldman Sachs		13,887	6,753	AAA+	AAA-	93,316	36,361
40	52		Mercedes-Benz		13,883	9,844	A+	AAA-	55,309	30,313
41	64		Chase		13,400	8,747	AA	A+	69,901	52,571
42	-		Christian Dior		13,343	-	AA	-	18,815	-
43	79		Amazon.com		13,340	7,466	AA	AA-	58,847	21,326
44	75		Bradesco		13,299	7,698	AAA-	AA	56,583	29,794
45	32		UPS		13,170	11,873	AA+	AA+	57,056	47,222
46	77		Barclays		13,134	7,583	AA	A-	56,155	19,998
47	35		Honda		13,083	11,461	AA+	AA+	59,239	40,919
48	40		GDF SUEZ		12,878	11,016	A+	AA+	96,297	90,030
49	65		Allianz		12,836	8,224	AA	A+	57,334	34,428
50	39		Oracle		12,775	11,106	AA+	AA+	110,691	83,262
51	50		American Express		12,737	9,944	AA	AA	42,043	25,866
52	53		Ford		12,652	9,822	AA	A+	29,400	4,992
53	34		Sony		12,648	11,597	AAA	AAA	27,403	23,127
54	38		BP		12,114	11,229	AA+	AA+	180,912	135,331
55	48		ICBC		12,083	10,031	AA+	A+	225,368	186,089
56	62		China Construction Bank		12,076	9,024	AA+	AA	208,117	127,443
57	36		Comcast		11,979	11,383	AA+	AA	41,180	42,251
58	69		JP Morgan		11,732	8,072	AA-	AA-	102,425	48,571
59	149		Sberbank		11,729	4,531	AA+	AA-	51,108	19,616
60	112		Société Générale		11,580	5,852	AA-	A-	44,662	25,288
61	42		CISCO		11,480	10,794	AA+	AA+	135,071	91,134
62	44		Volkswagen		11,468	10,242	AA+	AA+	45,474	100,314
63	49		Chevron		11,464	9,980	AA	A+	156,569	143,384
64	43		Heineken		11,435	10,348	AAA-	AA	23,405	14,865
65	51		Tata		11,216	9,921	AAA-	AAA-	11,089	3,059
66	61		Nestlé		11,178	9,038	AAA-	AAA	176,636	140,066
67	106		BBVA		10,727	6,008	AA-	A+	69,134	39,039
68	73		Nissan		10,412	7,742	AA	AA-	33,562	16,351
69	72		T-Mobile		10,126	7,761	AA	AA-	65,094	57,285
70	59		Walgreens		9,983	9,219	AA-	A+	38,415	26,198
71	87		Avon		9,917	6,962	AA-	AA-	14,627	8,471
72	57		PWC		9,908	9,458	AAA	AAA	-	-
73	91		Deutsche Bank		9,862	6,703	AA-	AA-	43,273	19,781
74	68		Lowe's		9,784	8,173	AA-	AA-	32,226	30,050
75	67		Dell		9,750	8,200	AAA-	AAA-	27,613	19,230
76	29		ExxonMobil		9,683	13,360	AA	AA	356,379	390,604
77	82		Movistar		9,666	7,126	AA+	AA-	133,658	93,544
78	84		Bank of China		9,615	7,053	AA	AA	149,395	107,672
79	60		Carrefour		9,436	9,120	AA+	A+	34,467	24,520
80	47		Sam's Club		9,398	10,126	A+	A+	210,390	200,913
81	107		ASDA		9,122	5,967	AA	AA-	210,390	200,913
82	46		Hitachi		9,095	10,139	A+	A+	9,148	12,931
83	88		Toshiba		8,949	6,804	AA	AA	23,069	13,866
84	80		Generali		8,868	7,273	AA	A	41,184	34,283
85	86		Telecom Italia		8,866	7,005	AA+	AA+	27,803	25,038
86	-		Johnson & Johnson		8,715	-	AA+	-	173,382	-
87	92		BT		8,685	6,649	AA	AA	17,963	13,944
88	98		FedEx		8,588	6,344	AA-	AA-	26,392	17,825
89	96		KPMG		8,507	6,407	AAA-	AA	-	-
90	33		TimeWarner		8,469	11,817	AA+	AA+	35,868	33,085
91	76		Credit Suisse		8,430	7,668	AA	AA+	50,468	32,484
92	213		UniCredit		8,342	3,103	A+	BBB	44,681	15,389
93	117		Philips		8,321	5,600	AA+	AA+	26,108	17,477
94	146		H&M		8,298	4,578	AAA-	A+	48,913	31,826
95	78		UBS		8,261	7,568	AA-	AA-	62,240	37,889
96	101		Telefonica		8,155	6,165	AA-	AA-	133,658	93,544
97	125		Porsche		7,994	5,431	AAA+	AAA+	12,456	10,920
98	71		Kellogg's		7,982	7,857	AAA+	AAA+	19,950	16,902
99	137		EDF		7,922	4,905	AA+	AA+	106,839	90,570
100	139		Morgan Stanley		7,907	4,775	A+	A+	45,931	15,399

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Executive summary

Stabilisation in the market?

The total value of the top global 500 bank brands 2010 is US$716 billion, an increase of 49% on 2009.
The recovery of global bank brands has been significant. The value of the top 500 global bank brands 2010 is now 4% higher than the value in 2008 prior to the crisis. Market capitalisation has decreased by 20% for the same period.
The total market capitalisation value of the top global 500 bank brands is US$5,996 billion, an increase of 62% on 2009.
Banks' market capitalisations have seen a significant increase in value in 2010 due to renewed confidence in the markets.
All segments of the banking industry have recovered in 2010. The credit card banking segment has seen significant growth with the top ten credit card companies averaging 49% growth in brand value.
For the third year running, HSBC is the most valuable banking brand in the world, increasing its brand value by 12% to US$28.5 billion.

USA and UK's dominance of banking may be waning...

US dominance of global banking has declined further with a decrease in the number of US banks in the global 500 down to 85 from 95 in 2009.
The number of European banks in the global 500 has increased from 174 to 197 banks in 2010 while the number of UK banks has decreased from 24 to 22. This suggests that the recovery on the European continent in particular France, Spain, and Switzerland has left British banks standing.

As brands in emerging markets close the gap

2009 is the first year that a Russian bank has made the top 20 (Sberbank) which has seen significant growth.

The South American region has experienced the highest growth in brand value increasing by 84%. This is a reflection of the resilient performance in the region, particularly in the Brazilian banking market.

The Middle East has seen a 78% growth in brand value, based on high demand for Islamic banking products and services.

European bank brands have recovered significantly compared to the North American and Asian markets (67%, 29% and 31% growth respectively).

Although Asia has only experienced a 31% growth in brand value it continues to perform well particularly in India and China where bank brands have grown by 137% and 58% respectively.

Banks in the Pacific, including Australia and New Zealand have seen a recovery with growth of 52%.