BOC, LMD's most respected brand

The publisher of business magazine LMD, Media Services has released the latest rankings of Sri Lanka's Most Valuable Brands in what is its fifth special edition the Brands Annual, which contains the nation's only comprehensive valuations and rankings of leading brands.

In an exclusive press release, Media Services said that leading brand valuation firm Brand Finance has valued the top 100 brands in this country, in addition to rating another 100 'unlisted brands'.

The Brands Annual notes, "In the five years since the special edition was launched, the 10 most valuable brands in this country have doubled in value and the Bank of Ceylon has topped the rankings by taking first place on the podium throughout this period. In 2013, its brand value surpasses a whopping Rs 24 billion."

And the number two spot in the valuations has been the exclusive domain of another giant from the ranks of the state banking sector the value of the People's Bank brand this year is Rs. 19 billion and counting," it adds.

The banking sector continues to dominate the rankings. This year, it accounts for 37% of cumulative valuations. The magazine notes that the banking sector's total brand value is now worth more than Rs. 105 billion, with the telecom sector taking second place with a valuation of Rs. 33.5 billion.

Managing Director of Brand Finance, Ruchi Gunewardene, says in the special edition that brands are in desperate need of effective management. "It is an important element of business strategy, which in turn determines the valuations accorded to businesses by investors," he added.