ADNOC is UAE's most valuable brand; Etisalat is strongest brand: new study

DP World is considered the fastest-growing brand in the country

  
Employees are seen at the Panorama Digital Command Centre at the ADNOC headquarters in Abu Dhabi, UAE December 10, 2019.

Employees are seen at the Panorama Digital Command Centre at the ADNOC headquarters in Abu Dhabi, UAE December 10, 2019.

REUTERS/Satish Kumar

UAE’s homegrown brands ADNOC and Etisalat have been rated as the country’s leading brands for 2021, having performed really well despite the challenges posed by the COVID-19 pandemic.

Abu Dhabi National Oil Company (ADNOC) claims the title of the most valuable brand, while Etisalat takes the crown as the strongest brand, according to the latest report by Brand Finance.

Every year, the valuation consultancy ranks 5,000 brands from various sectors around the world based on different parameters, including reputation, brand value and equity.

ADNOC emerged as the most resilient of all national oil companies in the world, posting only a six percent brand value loss despite the outbreak. The company is currently valued at $10.8 billion, compared to $11.4 billion in 2020.

“ADNOC has managed to successfully shelter its brand value during an incredibly challenging year for its industry,” Brand Finance said.

Strongest brand

Etisalat came in second with a brand value of $8.5 billion, up 0.7 percent from $8.4 billion in 2020. The telecommunications firm has overtaken long-haul operator Emirates, which has dropped to the third position.

“Etisalat has been crowned the UAE’s strongest brand for the first time, overtaking Emirates, with a brand strength index (BSI) score of 87.4 out of 100 and a corresponding AAA brand strength rating – the only brand in the MENA region to achieve this rating,” Brand Finance said.

According to the report, Etisalat is the only brand in the top 10 rankings that hasn’t suffered a decline in value during the pandemic. It also has a very strong brand equity, ranking first on all of the key measures such as consideration, reputation and quality.

“Etisalat also connects with UAE residents emotionally far better than any direct competitor,” Brand Finance said.

Third on the list is Emirates, whose brand value stood at $4.6 billion, down 31 percent from $6.8 billion in 2020.

Despite a significant decline in brand value, Emirates is still considered one of the UAE’s strongest brands, with a BSI score of 80.5 out of 100. It also maintains its “genuinely global appeal”.

Fastest-growing brand

Although it didn’t make it to the top 10 list, DP World was recognised as the fastest-growing brand, with its value rising by 17 percent to $1.1 billion.

“The logistics giant recorded solid growth last year, as the brand celebrated strong performances in key markets including India, UK, Netherlands, Belgium and Egypt,” the report said.

Within the top 10 list, Emirates NBD came in as the fourth-most valuable with $3.7 billion, followed by First Abu Dhabi Bank with $3.6 billion. The two banks saw value declines of 9.7 percent and 10.1 percent, respectively.

Abu Dhabi Commercial Bank (ADCB), came in the sixth place with $2.1 billion, followed by Du with $1.8 billion, Dubai Islamic Bank ($1.6 billion), Emaar (1.5 billion) and ENOC (1.4 billion).

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

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