ACCESS BANK NAMED NIGERIA 's MOST VALUABLE BRAND - BRAND FINANCE

Access Bank Named Nigeria's Most Valuable Brand - Brand Finance

Access Bank has been recognized as Nigeria's most valuable brand for the third consecutive year, according to the latest report from Brand Finance. The 2024 report highlights a remarkable 73% increase in Access Bank's brand value, cementing its position as the leading banking brand in Nigeria.

Brand Finance, a global brand valuation consultancy, revealed that banking brands contribute significantly to Nigeria’s top 25 brands, accounting for 50% of the overall brand value. In the Nigeria 25 2024 ranking, Access Bank’s brand value soared to NGN355.3 billion, making it the 31st most valuable brand in Africa. This growth is attributed to significant increases in interest-based income, reflecting improved revenues and robust financial performance.

MD/CEO, Access Bank, Roosevelt Ogbonna

Managing Director/Chief Executive Officer of Access Bank, Roosevelt Ogbonna, stated, “We are proud to once again be recognised as Nigeria's most valuable brand. This accolade is a testament to our commitment to excellence, innovation, and sustainable growth. We will continue to focus on delivering exceptional value to our customers and stakeholders.”

Group Head, Group Marketing & Retail Analytics at Access Bank,  Toyin Henry-Ajayi, added, “Access Bank’s consistent performance and brand value growth reflect our ability to stay true to our DNA of excellence through every strategic 5-year cycle. We remain dedicated to setting new standards in the banking industry and contributing to Africa’s economic development.”

Additionally, Access Bank topped the rankings in terms of sustainability perceptions value, surpassing Flour Mills of Nigeria. This underscores the Bank’s dedication to sustainable practices and corporate responsibility.

Managing Director of Brand Finance Nigeria, Babatunde Odumeru  commented on the resilience of Nigeria’s leading brands: “Despite economic challenges, Nigeria's top brands have shown remarkable resilience. Many have continued to grow, with 23 of the top 25 most valuable brands achieving brand value growth.”

Brand Finance calculates brand values using the Royalty Relief approach, compliant with ISO 10668 standards. This method estimates future revenues attributable to a brand by calculating a royalty rate for its use, reflecting the net economic benefit achievable by licensing the brand in the open market.