Sber, a state-run lender in Russia, has won the title of strongest brand among European financial institutions, according to the latest survey by Brand Finance Europe.
Brand Finance, based in London, tests 5,000 of the world's biggest names and publishes over 100 reports, assessing firms across all sectors and nations. The annual Europe ranking of the world's top 500 most valuable and strongest European brands features the world's most valuable and strongest European brands.
Brands' prosperity is based on marketing investment, stakeholder equity, and business performance, and demonstrates how effectively a company invests, develops brand awareness, takes care of its reputation, and establishes customer loyalty, and how efficiently it operates its business.
Sber was also ranked as the fourth most-valuable bank in Europe, outpaced by HSBC, Santander and Barclays. In addition, the Russian banking giant entered the top 40 of the Brand value ranking, ranking 37th.
Sber has been the seventh strongest European brand, with a Brand Strength Index score of 88.2 percent, ahead of Michelin, Lamborghini and Rolex.
Sber's press office said he would not comment on the release.