American banks top image poll
<p>Asians are more familiar with the brands of American financial
</p><p>institutions than with their local rivals, with US bank Citibank top of
</p><p>the regional league, according to a new financial image survey conducted
</p><p>by Time Inc Asia.
</p><p><BR><BR>
</p><p>The survey examined perceptions of 58 international financial
</p><p>institutions among almost 23,000 Asian subscribers of Time's stable of
</p><p>regional magazines; Asiaweek, Fortune and Time.
</p><p><BR><BR>
</p><p>Of those respondents, 92 per cent were of Asian heritage.
</p><p><BR><BR>
</p><p>Citibank was rated first across the region.
</p><p><BR><BR>
</p><p>Ninety per cent of respondents said they were 'very familiar' or
</p><p>'familiar' with the bank and its brand.
</p><p><BR><BR>
</p><p>Seventy-two per cent of respondents said the same of Hong Kong's HSBC,
</p><p>which came in second.
</p><p><BR><BR>
</p><p>American institutions also topped the investment bank league, with
</p><p>Merrill Lynch out in front.
</p><p><BR><BR>
</p><p>AIA was rated as the top insurance company in the Asia-Pacific
</p><p>region.
</p><p><BR><BR>
</p><p>Across the region, emerging markets bank Standard Chartered Bank came
</p><p>third, followed by Bank of America and Chase Manhattan Bank.
</p><p><BR><BR>
</p><p>At a local level, HSBC faired better than Citibank in Hong Kong.
</p><p><BR><BR>
</p><p>The regional leader took second place, followed by Merrill Lynch,
</p><p>Goldman Sachs and Chase Manhattan Bank.
</p><p><BR><BR>
</p><p>Alice Chai, vice-president of marketing information at Time Inc Asia,
</p><p>said one explanantion for HSBC's second rate performance - albeit the
</p><p>best-performing local brand - was the timing of the survey.
</p><p><BR><BR>
</p><p>"When we did the survey last year, HSBC was in the middle of a global
</p><p>rebranding," she said.
</p><p><BR><BR>
</p><p>However, one of Singapore's largest institutions across all sectors, the
</p><p>Development Bank of Singapore, also came second to Citibank in
</p><p>Singapore, with HSBC coming third.
</p><p><BR><BR>
</p><p>Ms Chai said the quality of marketing used by American financial
</p><p>institutions - in terms of both public relations and advertising - was
</p><p>superior to Asian rivals.
</p><p><BR><BR>
</p><p>"US companies have been established for many years and have had time to
</p><p>build brand awareness and are particularly good at it," said Ms
</p><p>Chai.
</p><p><BR><BR>
</p><p>AIA and Standard Chartered Bank took fourth and fifth places
</p><p>respectively in Singapore.
</p><p><BR><BR>
</p><p>- For the full story, see Asian PR News, available only by paid
</p><p>subscription.
</p><p><BR><BR>
</p><p>Call Ms Iris Tang at (852) 2577-2628 or email subscrib@media.com.hk.
</p><p><BR><BR>
</p>
by
|
06/09/2000
Asians are more familiar with the brands of American financial
institutions than with their local rivals, with US bank Citibank top of
the regional league, according to a new financial image survey conducted
by Time Inc Asia.
The survey examined perceptions of 58 international financial
institutions among almost 23,000 Asian subscribers of Time's stable of
regional magazines; Asiaweek, Fortune and Time.
Of those respondents, 92 per cent were of Asian heritage.
Citibank was rated first across the region.
Ninety per cent of respondents said they were 'very familiar' or
'familiar' with the bank and its brand.
Seventy-two per cent of respondents said the same of Hong Kong's HSBC,
which came in second.
American institutions also topped the investment bank league, with
Merrill Lynch out in front.
AIA was rated as the top insurance company in the Asia-Pacific
region.
Across the region, emerging markets bank Standard Chartered Bank came
third, followed by Bank of America and Chase Manhattan Bank.
At a local level, HSBC faired better than Citibank in Hong Kong.
The regional leader took second place, followed by Merrill Lynch,
Goldman Sachs and Chase Manhattan Bank.
Alice Chai, vice-president of marketing information at Time Inc Asia,
said one explanantion for HSBC's second rate performance - albeit the
best-performing local brand - was the timing of the survey.
"When we did the survey last year, HSBC was in the middle of a global
rebranding," she said.
However, one of Singapore's largest institutions across all sectors, the
Development Bank of Singapore, also came second to Citibank in
Singapore, with HSBC coming third.
Ms Chai said the quality of marketing used by American financial
institutions - in terms of both public relations and advertising - was
superior to Asian rivals.
"US companies have been established for many years and have had time to
build brand awareness and are particularly good at it," said Ms
Chai.
AIA and Standard Chartered Bank took fourth and fifth places
respectively in Singapore.
- For the full story, see Asian PR News, available only by paid
subscription.
Call Ms Iris Tang at (852) 2577-2628 or email subscrib@media.com.hk.
