Halifax leapfrogs NatWest and RBS in bank brand value ranking

The marketing fortunes of bailed-out banking groups Lloyds and RBS have diverged significantly in the past year, according to the annual ranking by Brand Finance.

Halifax ads: feature people who give extra
Halifax ads: feature people who give extra

Lloyds Banking Group-owned brands Lloyds and Halifax have each enjoyed double-digit growth in brand value while RBS Group-owned brands NatWest and RBS were static, according to the Brand Finance Banking 500 survey.

Both groups are still partly-owned by the taxpayer more than five years after the financial crisis forced them to take bailouts, although Lloyds Banking Group is only 35% taxpayer-owned while RBS Group is more than 80%.

The Lloyds brand has climbed to third in the table with a 16% increase in value after Liverpool FC shirt sponsor Standard Chartered fell to fourth with a 28% drop. The top two are HSBC, with a 2% rise in value, and Barclays, with no change.

Halifax climbed to fifth with a 13% rise, leapfrogging Natwest, which dropped 1%, and RBS, which dropped 6%.

Surprisingly, there was a 4% increase in the brand value of the Co-operative Bank following a tumultuous year during which it posted a pre-tax loss of £1.3bn and the Co-op Group lost control of it to a group of hedge funds.

Less surprisingly, the value of the new TSB brand increased by 21% over a year in which it further established itself following its revival by Lloyds Banking Group as part of a market remedy by European regulators.

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