Most of the global banks had repaid government loans issued during the financial crisis, and had implemented reforms that reshaped their businesses. However, the public and government regulators remained unsatisfied with some of the changes. Banks experienced criticism for past practices and high executive compensation. Although profits were up, trust was down.
Less tainted by the risky practices that precipitated the financial crisis, the regional banks enjoyed strong results and brand values appreciated, particularly among bank brands in North America and Australia. The category brand value softened because four of the regional leaders are Chinese banks, which felt the effects of the country’s slowing economic growth rate.
Insurance brands experienced a positive year and brand values increased, particularly among the major global carriers. Property and casualty brands were in the midst of a transformation, trying to harness big data to understand individual needs and create ongoing, lifetime customer engagement.