The banking sector led the list of Egypt’s most valuable brands in 2024, holding 4 out of 10 top spots, with the National Bank of Egypt (NBE) maintaining its number one spot on Brand Finance’s latest evaluation
The banking sector led the list of Egypt’s most valuable brands in 2024, holding 4 out of 10 top spots, with the National Bank of Egypt (NBE) maintaining its number one spot on Brand Finance’s latest evaluation.
In its annual list, the world’s leading brand valuation consultancy noted that the National Bank of Egypt also came out on top for sustainability perceptions, leading across the three key metrics; Environmental, Social, and Governance (ESG).
Other banks included in the list were Banque Misr, CIB, and the Arab African International Bank.
Growing in brand value with by a significant 37% to $655 million, the NBE’s growth was propelled by tight interest rates and enhanced profits amidst Egypt's challenging economic landscape.
Despite a decline in brand strength, National Bank of Egypt maintained its position as the nation's strongest brand, now rated AA+. Brand Finance attributed this decline to lower scores across various metrics such as price perception, premium pricing ability, loyalty, and reputation.
Telecom Egypt was reported as Egypt's second strongest brand, witnessing a 14% increase in brand value to $306 million and climbing from 5th place.
Strategic initiatives including partnerships and securing the country's inaugural 5G license in January 2024 contributed to this jump. Rated AA+, Telecom Egypt's improved brand strength is apparent in heightened familiarity, consideration, and loyalty scores.
Elsewedy Electric emerged as Egypt's fastest-growing brand, experiencing a 62% surge in brand value to $389 million.
This growth was fueled by improved business performance and an improvement in its Brand Strength Index (BSI) score.
Eastern Co, a tobacco brand, emerged as Egypt's second fastest-growing brand, with a 43% increase attributed to increased cigarette production in response to national shortages, resulting in improved revenues and optimistic forecasts.
Saudi’s Aramco dominated as the Middle East’s most valuable brand with a value of $41.562 million, followed by the UAE’s Abu Dhabi National Oil Company (ADNOC) with $15.226 million and Saudi telecom STC wit a brand value of $13.859 million.
