Itaú Unibanco retains its reigning title as the most valuable brand in Brazil, boasting a value of US$8.7 billion (roughly R$42.7 billion), reflecting a 32% surge since 2022.
This financial titan of Latin America overshadows other brands, carrying a value 70% greater than the runner-up, as shown in a study carried out by UK-based consulting firm, Brand Finance and released on Wednesday (7).
Having operated for 98 years across 18 nations, Itaú Unibanco has racked up significant milestones, such as R$30 billion in net revenues, a customer base of 70 million, nearly 100,000 employees globally, and over R$1 trillion in loans.
Apart from topping the charts in Brazil, this bank is the solitary Brazilian brand featured among the globe’s 500 most valuable brands.
In Brazil’s ranking, the top five spots are dominated by banks, with the sole exception of Petrobras.
Bradesco claims the second rank, boasting a value of US$5.1 billion, trailed closely by Banco do Brasil at US$ 4.9 billion.
The study credits factors like Bradesco’s competency to cater to customers across diverse socioeconomic strata, the expansive reach of its services, its governance framework, robust financial outcomes, credit democratization, and the expansion of the banking sector for enhancing the brand’s value.
Banco do Brasil continues to fortify its brand position and value, evolving its value-based management systems, and holds the third spot on the list.
The cumulative value of Brazil’s 100 most valuable brands witnessed a 16% increment from the previous year.
“Brazilian brands have exhibited their resilience in overcoming the COVID-19 pandemic crisis, registering real growth for the second consecutive year.”
“The 16% upswing is substantiated when analyzing the count of brands that appreciated in the past year – 76% of brands experienced an increase in their worth from 2022 to 2023,” Eduardo Chaves, Managing Partner of Brand Finance Brazil, commented.
Here are the top 10 most valuable brands in Brazil:
1st – Itaú
Brand value in 2023: $8.7 billion
2nd – Bradesco
Brand value in 2023: $5.1 billion
3rd – Banco do Brasil
Brand value in 2023: US$ 4.9 billion
4th – Petrobras
Brand value in 2023: US$ 3.9 billion
5th – Caixa Econômica Federal
Brand value in 2023: 3.1 billion dollars
6th – Vale
Brand value in 2023: US$ 2.2 billion
7th – Natura
Brand value in 2023: US$ 2 billion
8th – Skol
Brand value in 2023: US$ 1.8 billion
9th – Brahma
Brand value in 2023: US$ 1.6 billion
10th – Sadia
Brand value in 2023: US$ 1.6 billion
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