National Bank of Egypt solidifies position as Egypt’s premier brand

National Bank of Egypt maintains its position as Egypt’s most valuable brand, according to new data from Brand Finance, the world’s leading brand valuation consultancy. Tight interest rates and improved profits in the nation’s tough economic environment drive National Bank of Egypt’s brand value growth of 37% to USD655 million. The banking sector dominates 2024’s ranking with four out of ten brands, including National Bank of Egypt, Banque Misr, CIB, and new entrant Arab African International Bank.

Despite declining brand strength, National Bank of Egypt also retains its position as the nation’s strongest brand, now rated AA+. Brand Finance data attributes this decline to lower scores for several metrics, including perceptions of price, the brand’s ability to demand a price premium, loyalty, and reputation.

Brand Finance’s research also found that National Bank of Egypt also came out on top for sustainability perceptions, leading across the three key metrics, namely, Environmental, Social, and Governance.

Telecom Egypt (brand value up 14% to USD306 million) has become Egypt’s second strongest brand, up from fifth place previously. Telecom Egypt’s climb follows proactive measures to boost brand awareness through strategic partnerships and milestone initiatives. For instance, in January 2024, Telecom Egypt secured the nation’s first license for 5G installation and operation. Now rated AA+, this rise in brand strength is reflected in enhanced scores in familiarity, consideration, and loyalty for the brand.

Now Egypt’s fastest growing brand, Elsewedy Electric’s brand value has surge by 62% to USD389 million, propelled by stronger business performance and more than 15% improvement in its BSI score. According to Brand Finance data, Elsewedy Electric performs particularly strongly on familiarity and reputation. Following closely behind, tobacco brand Eastern Co has become Egypt’s second fastest-growing brand, up 43%. This rise is fuelled by Eastern Co’s ramped-up production of cigarettes in response to a national shortage, leading to improved revenues and optimistic forecasts.