Banorte has been ranked as one of the 10 most valuable and strongest brands in Mexico, thanks to its favorable customer perceptions, employee satisfaction and corporate reputation.
Banorte was the only financial institution on the 2021 list compiled by the consulting firm Brand Finance, which each year tests 5,000 of the largest brands, assessing their strength and quantifying their value across sector and countries.
“We are honored to be included as one of the top 10 most valuable brands in Mexico,” said Banorte Chairman Carlos Hank González. “It was only possible through the dedication of our employees and the trust of our customers.”
Banorte jumped into the Top 10 from No. 12 in the last Brand Finance report, in part because of its financial standing and continued support and introduction of customer-centric benefits.
Brand Finance said that in addition to measuring overall brand equity and revenue, it assesses the relative strength of brands, based on marketing investment, consumer perceptions, workforce satisfaction, corporate reputation and other factors.
Besides Banorte, others on the Top 10 list were Corona beer, Pemex oil company, telecommunications provider Claro, Victoria beer, Modelo beer, Bodegas Aurrerá discount stores, Telcel telecommunications, Cemex building materials and Grupo Bimbo food distributor.
Richard Haigh, managing director, Brand Finance, said the pandemic has challenged businesses worldwide. He saluted those like Banorte for staying focused and earning high marks over the past year.
Companies with “a strong existing reputation and good levels of familiarity among consumers are…most primed to weather the storm,” he said.