HDFC Bank, LIC among top 100 global brands; Amazon cements position as No. 1 brand in the world

New Delhi: HDFC Bank, India's biggest private sector lender (as per market value) and Life Insurance Corporation (LIC), largest insurer in the country, continued to be among the world's top 100 brands by value although their brand value declined in 2020. TCS, which made a debut into the coveted list last year, was dropped out of the list this year. 

According to the Brandz Top 100 Most Valuable Global Brands 2020 ranking, HDFC Bank was ranked 59th in the world with a brand value of $20.8 billion while LIC stood at the 75th position with a brand value of $17.5 billion. HDFC Bank's ranking improved from 60th position last year while LIC's rank declined from 68 in 2019. Both these companies saw significant erosion in their brand value- by 8% and 14% respectively- according to the report.

Amazon retained the number one position in the list with 32% increase in its brand value at $415.8 billion. The closure of brick & mortar retail stores in US due to the pandemic, increased dependence of people on ecommerce giants. Apple stood at the second place with a brand value of $352.2 billion, up 14% from last year. There was no change in its position as compared to last year.

However, Microsoft replaced Google as the third most valued brand in the world with a brand value of $326.5 billion, a 30% jump compared to last year's value. Brand values have also been boosted by how companies have made themselves useful during the lockdown, the report said.

MasterCard found its place in the top 10 due to 18% increase in value. "The ascent of MasterCard and the presence of Visa at No. 5, reflectbrand resilience as payments and other financial services continue to experience digital disruption," the report mentioned. 

Source: Times Now News

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