Russia's Sberbank Tops List Of Most Valuable Russian Brands In 2018 -Brand Finance Company

LONDON (UrduPoint News / Sputnik - 15th August, 2018) Russia's Sberbank has once again ranked first in top 50 most valuable Russian brands in 2018, according to a report by the London-based Brand Finance consultancy company, published on Wednesday.

Sberbank also topped the list in 2017 with its brand value reaching 569.467 billion rubles.

"Sberbanks brand value has surged by 18% to ��670.4 billion [rubles, $9.9 billion]. Sberbanks remarkable performance further extended its lead as the most valuable Russian brand, worth more than twice as much as the second-ranked brand, Gazprom (brand value up 5% to ��320.

8 billion)," the report read.

According to the report, Sberbank's brand value increased significantly in light of "an encouraging performance" in Russia's domestic market.

"The brand is also investing in future growth, as earlier this year it announced new plans to combat the threat from tech competitors," the report said.

Russia's Lukoil oil and gas company ranked third with its brand value standing at 281.063 billion rubles, followed by Rosneft energy company with brand value of 203.869 billion rubles.