Business News: FNB Handed Strongest Brand in the World Title, Beating Capitec in 2nd Place

• First National Bank has bagged the title of the world's strongest banking brand from Brand Finance
• Capitec Bank came closely behind FNB in second place, falling only two decimal points behind the bank
• Other SA banks, Standard Bank and ABSA, also got themselves on the list, landing in the top 25

JOHANNESBURG - South African bank FNB has been named the strongest banking brand in the world by Brand Finance.

FNB narrowly beat Capitec Bank, which came closely behind in second place. According to Brand Finance, FNB scored the highest in the Brand Strength Index (BSI).

The strongest banking brand is determined using brand inputs, brand equity and performance.

FNB clenched an impressive BSI score of 93.00 out of 100, receiving an AAA+ rating, Brand Finance reported through a press release.

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Brand Finance said that what set FNB aside from other banks was its sustainable practices, having received awards for its environmental, social and governance performance.

FNB was also praised for its mobile banking services, which made it easy for its customers to manage their finances and check their accounts.

Though Capitec came in second place, the bank was only two decimal points behind FNB. Capitec also received a BSI score of 93.00 with an AAA+ rating.

According to Business Tech, Two other South African banks made the top 25. Standard Bank came at number 21 on the list, while the green bank, Nedbank, secured the 25th position. ABSA made the top 100 at number 65.

R1K Capitec investment 20 years ago rewards investors with R2.3 million, leaving many kicking themselves

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R1K Capitec investment 20 years ago rewards investors with R2.3 million, leaving many kicking themselves

In another story, Briefly News reported that an investment of R1 000 in Capitec Bank 20 years ago would be worth an incredible R2.3 million today.

The Stellenbosch-based bank is one of the biggest success stories in the country and has rewarded its investors generously. Capitec boasts an impressive 18 million clients with a market value of almost R240 billion.

An analyst from Allan Gray said since listing on the Johannesburg Stock Exchange in 2002, Capitec has delivered a total shareholder return of 46% per annum. Capitec is the third-largest JSE-listed bank.

Source: Briefly News