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United Overseas Bank Limited (UOB) has achieved the highest brand value among Singapore banks for the fourth consecutive year in the Singapore Brand Award (SBA). This year, not only has UOB outranked its local banking rivals in terms of brand value, the Bank has also improved its brand value by a growth of 27% to S$2,188 million.

The annual SBA, first launched in 2002, is organised by International Enterprise Singapore (IE Singapore). This year’s award has also introduced a new category, “The Five Fastest Growing Singapore Brands”. Under this new category, UOB is the only local bank ranked as one of the five fastest growing Singapore brands. Among the five Singapore companies, UOB was third, behind Eu Yan Sang and OSIM.

Mr Francis Hsu, Senior Vice President and Regional Head of Credit Card/Brand Management at UOB said, “We are pleased with the growth in UOB’s brand value. It certainly reflects that UOB is on the right track with its branding strategy. While we have maintained a leading position in brand value among local banks for four years in a row, we will not rest on our laurels. We will continue to invest in executing our branding strategy, and work towards increasing our brand value in the countries where 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. The SBA is based on brand evaluation, and 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.

About United Overseas Bank
UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of more than 500 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 one million. The Bank also has the largest base of merchants in Singapore, both for consumer and commercial credit card acceptance.

About the Singapore Brand Award (SBA)
The Singapore Brand Award, established in 2002, is part of IE Singapore’s continued effort to encourage and support companies in developing and managing their brands. Through this national award, the SBA aims to increase the awareness of branding as a key strategic competency and recognise Singapore-based companies that have invested in their brands to achieve international success.

The 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; to allow Singapore brands to benchmark themselves against other brands internationally; and to identify and profile international Singapore brands.

Companies shortlisted by Interbrand were based on two criteria: all brands must originate in Singapore or be headquartered in Singapore for at least ten 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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