The 2011 annual report on the world's most valuable bank brands by Brand Finance shows that the total value of the top 500 bank brands has increased by 19% to US$855bn, driven by the recovery of global bank brands over the past two years. The market capitalisation of banks has decreased by 19% over the same period, but retail banking remains the largest sector, contributing $284bn, or 33% of the Banking 500. Bank of America is now the most valuable banking brand in the world, displacing HSBC, which had held the top spot for the past three years. The resurgence of the US banking industry is evident by an increase in the number of US banks in the study and a 23% increase in brand value to US$230bn. European banks saw their brand value increase by 6% to US$338bn, despite six banks falling out of the Banking 500 in 2011. ICBC saw its brand value rise by 27%, closing the gap with Western banks.
