London-based brand valuation consultancy Brand Finance has released its latest Brand Finance Philippines 2024 report, highlighting top-performing companies across banking, telecommunications, and retail sectors. This year's report showcases significant growth and strategic resilience among the Philippines' most valuable brands.
Banking Sector Dominates the Rankings
Banks have emerged as dominant players in this year's rankings. BDO Unibank leads as the most valuable brand with a 14% increase in brand value. Other banking giants such as Bank of the Philippine Islands (BPI), Metrobank, and UnionBank secured the 5th, 6th, and 10th spots respectively. The strong presence of these financial institutions underscores the sector's critical role in the economy and its ability to adapt and grow amidst challenges.
Telecommunications and Retail Sectors Showcase Strength
Globe Telecom and PLDT, stalwarts of the telecommunications industry, also made significant strides. Globe Telecom secured the third spot, reflecting its efforts to enhance connectivity and customer experience. PLDT, despite a 25% decrease in brand value, retained a commendable 4th position, highlighting the competitive nature of the industry.
Puregold, a leading supermarket chain, maintained its 9th spot in the 2024 Brand Finance Philippines 30, competing with major players from banking, power, energy, and telecom sectors. Recognized for its 16% increase in brand value since 2023, President Ferdinand Vincent Co attributed this success to the company's focus on quality service and customer satisfaction. As the only multi-channel retailer in the top ten, Puregold's commitment to sustainability is evident through initiatives like "Walang Plastik Grocery Days" and reductions in plastic use and energy consumption. These efforts underscore its balanced approach to business, earning significant brand recognition and value.
Notable Mentions and Rising Stars
While the top 10 brands capture significant attention, emerging brands are also making waves. Mang Inasal, despite not being in the top 10, achieved a remarkable 201% increase in brand value, climbing to the 15th spot. This surge is attributed to its expansion strategies and growing brand familiarity.
The top 10 most valuable brands in 2024, along with their estimated brand value and strength rating, are as follows:
1. BDO Unibank - $2,471M
2. Jollibee - $2,346M
3. Globe Telecom – $1,9498M
4. PLDT – $1, 929M
5. Bank of the Philippine Islands (BPI) – $1,532M
6. Metrobank – $1,191M
7. Meralco – $881M
8. Petron – $828 M
9. Puregold – $731M
10.UnionBank – $676M
