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United Overseas Bank Limited (UOB) has maintained its leading position in the Singapore banking industry with the highest brand value among all Singapore financial institutions.

For the third year in a row, UOB outranked its local banking rivals with an improved brand value of S$1,727 million, up S$157 million or 10 per cent from the previous year's ranking. Among all Singapore companies, UOB was second, just behind global telecom giant SingTel.

Organised by IE Singapore, the inaugural Singapore Brand Award was first launched in 2002. This year, IE Singapore has once again partnered Interbrand in conducting the ranking of Singapore brands at the national level, based on valuations of their financial worth. The valuation exercise was based on Interbrand's proprietary brand valuation methodology – similar to that used to generate the annual 100 Most Valuable Global Brands table for BusinessWeek.

Mr Francis Hsu, Senior Vice-President and Regional Head of Credit Card/Brand Management at UOB said, "Our ranking sends a strong signal that UOB is on the right track with its branding strategy. We are proud that our efforts have enabled us to maintain pole position in brand value amongst financial institutions for the third consecutive year. However, we will not rest on our laurels; we will continue to be aggressive in our branding strategy. With our success in Singapore, we will aim to benchmark ourselves against other brands amongst financial institutions, in the regional markets in which we have a presence."

The SBA winners represent companies with astutely managed brands that have succeeded in their very own ways in the global arena. The winning brands have effectively leveraged on branding and transformed it into a key corporate asset, in turn creating substantial value for their shareholders and positive contributions to their financial and business performances.

About United Overseas Bank (UOB)

UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of 565 offices in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and the Philippines.

UOB is focused on enhancing its leadership in the consumer market, and is today, the largest credit card-issuing bank in Singapore with a card base that has exceeded 1.3 million. The Bank also has the largest base of merchants in Singapore, both for consumer and commercial credit card acceptance. There are currently more than 20 co-brand cards in its stable, covering the retail sector, service providers and non-profit organisations.

For more information on UOB, visit www.uobgroup.com.

About the Singapore Brand Award (SBA)

The inaugural SBA 2002 was a key project aimed at kick-starting IE Singapore's brand-related activities. Objectives of the SBA are: to underline the importance of brands as intangible corporate assets that have tangible financial value; to increase the awareness of branding as a strategic business tool and not simply a logo or marketing campaign; to allow Singapore brands benchmark themselves against other brands internationally, and to identify and profile international Singapore brands.

Companies shortlisted by Interbrand were based on 2 criteria: All brands must originate in Singapore or be headquartered in Singapore at least 10 years. Only SGX companies were shortlisted to ensure sufficiency of financial data publicly available for valuation. In addition, to reflect the international aspect of the award, shortlisted brands must generate at least 10% of their revenues from outside Singapore.

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