On 6 February 2018, First National Bank (FNB) announced that the bank was named Africa’s leading bank in The Banker’s, Top 500 Banking Brands Report 2018. Ranked 141st in the global banking table, with a brand valuation of $1.4bn, FNB grew its brand value by 23% in the past year.
“Banking has evolved from being more than just banking to a lifestyle offering, that touches on the personal and emotional level of our customers. The success lies in FNBs ability to operate in challenging market conditions with changing consumer perceptions and dynamics. We fundamentally believe that understanding our customers’ circumstance and context, plays a vital role in helping us maintain a strong and relevant brand,” says Faye Mfikwe, FNB Chief Marketing Officer.
According to the report, the banks brand positioning campaign in 2017 redefined the concept of ‘helpfulness’ in the current South African and African context. Joy Macknight, Deputy Editor at The Banker explains that, “First National Bank made great strides in brand positioning over the past 12 months. Impressively, it moved up 16 positions in The Banker’s Top 500 Banking Brands 2018 global ranking, to become the premier banking brand in Africa.”
The enablement of banking through our innovative customer-centric products and services; coupled with the fundamental tenet of ‘How can we help you?’ has positively impacted the banks brand perception in all markets.
“Banking is a category that is a pivotal element in our customers’ lives. Within an African context and especially as we enter new territories, we’ve seen complexity and vastness of banking products and solutions. The success of our brands positioning is measured on how well it resonates with our customers and is informed by their needs,” says Mfikwe.
Mfikwe adds, “Buy-in to the brand’s strategy also sits with our employees who have played a significant role in driving FNB forward. These ambassadors are the true custodians of the brand and through their effort and dedication FNB has grown in stature and reputation.”
FNB has a proud heritage of ‘Helpfulness’. “Adding this award to our list of accolades at the beginning of a New Year is a major achievement. It signifies that the brand is well-entrenched in the markets that we operate in and also equipped to work in new and developing markets. At the heart of any brand are the relationships with their customers. For FNB, these customers have played an important role in making FNB the best brand in Africa,” concluded Mfikwe.