TD Bank Group (TD) has earned the #1 spot in Brand Finance 2023 Canada 100 Report, ranking the 100 most valuable brands in Canada.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the world’s biggest brands to the test and publishes over 100 reports, ranking brands across a number of sectors and countries. Canada’s 100 most valuable and strongest brands are included in the Brand Finance Canada 100 ranking.
“Being recognized as the Top Canadian Brand by Brand Finance is an incredible accomplishment for the Bank. It is a testament to not only the Bank’s financial performance but our brand and the goodwill it carries,” says Betsey Chung, EVP and Global Chief Marketing Officer, TD Bank Group. “TD is constantly evolving to stay top of mind for the customers and communities we serve. Brand Finance recognizes our business and brand performance – it is great to see that our prioritization of brand visibility and community impact is working. These are supported by our colleagues, marketing efforts, and overall culture. I am incredibly proud to see our brand strength ranked first in the country.”
Attributing this recognition to the Bank’s brand value and strength, brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand‘s performance on tangible measures relative to its competitors.
“TD is leading Canada by helping customers, communities and colleagues thrive in a changing world,” says David Haigh, Chairman and CEO of Brand Finance. “The Bank’s focus on digital transformation and innovation saw strong progress in 2022. This is not merely marketing positioning, but the consequence of work by over 95,000 TD colleagues to honour the Bank’s purpose and bring its brand values to life.”
Alongside its number one brand value spot in Canada, TD earned top marks in this year’s Brand Finance Global 500 report, a ranking of 500 of the most valuable brands in the world, achieving the highest ranking of any Canadian brand. In February, TD was also named as the highest-ranked Canadian brand in the Brand Finance Banking 500 report, ranking 11th on the list.
Brand Finance calculates the values of the brands in its global ranking tables using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. This involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a licensor would achieve by licensing the brand in the open market.
The full ranking, additional insights, charts, more information about the methodology and definitions of key terms will be available in the Brand Finance Canada 100 report, which will be released on Thursday, March 30th.
Today’s announcement is part of TD Tech Day, an annual event showcasing the Bank’s unique innovation, technology and modernization story. This year’s theme is inclusive innovation and highlights how TD is delivering technology and innovation to help drive inclusion for the benefit of our colleagues, customers and communities.
Source: ffnews.com
