Top 10 most valuable and strongest Filipino brands in 2023 revealed!

Who made it to Brand Finance's lists of most valuable and strongest Filipino brands this year?

Top 10 Most Valuable Filipino Brands 2023

Who's on the list?

According to Brand Finance, PLDT topped the list of most valuable Filipino brands in 2023. The company logged a 2 percent increase in its brand value to USD 2.6 billion, the report noted.

PLDT's brand performance contributed to the brand capturing a higher market share of the fiber industry, which led to a 45 percent improvement in year-on-year revenue. PLDT continues to focus on innovation as a driver to improve customer service and propel the nation towards becoming a financial and technology hub, Brand Finance said.

In terms of the environmental, social, and governance front, PLDT deployed the country's first carbon fiber cell tower. This initiative aims to reduce the amount of carbon dioxide produced by up to 70 percent, as compared to using traditional steel towers, Brand Finance noted. These towers also use less land space, reducing the need for land repurposing, it added.

Last year, PLDT deployed solar panels in five PLDT-Smart facilities across four cities to reduce over 137 tonnes of greenhouse gas emissions as well.

Here is the full list of the most valuable Filipino brands in 2023:

1. PLDT

2. BDO

3. Globe

4. Jollibee

5. BPI

6. Metrobank

7. Meralco

8. Petron

9. Puregold

10. UnionBank

Meanwhile, topping the list of the strongest brands was Globe.

Top 10 Strongest Filipino Brands 2023

Brand Finance said the telco held onto its stellar AAA brand strength rating.

However, the telecoms brand recorded a 2% decrease in brand value to US$2 billion and slipped one position to 3rd place. Globe Telecom's decline in brand value was mainly attributed to the depreciation of the Philippine Peso against the US Dollar, since its value in pesos has risen 9%, the report noted.

PLDT logged consolidated service revenues of PHP 157.98 billion in 2022 due to the strong performance of its mobile and corporate data business, as well as sustained growth from its non-telecoms services.

The brand is at the forefront of 5G network rollouts throughout the nation and looks to expand its global presence, Brand Finance said.

Last year, Globe brought 5G connectivity to 70 cities and towns across the Philippines, connecting over 3.9 million devices to its 5G network. To widen its global 5G roaming presence, it has brought its 5G services to 11 new countries and territories this year.

These were made possible through partnerships and deals with telcos brands around the world such as T-Mobile, Digi Telecommunications, CTM, AT&T, and Wind Tre, the report noted.

Below is the complete list of this year's strongest Filipino brands:

1. Globe

2. BDO

3. Cebu Pacific

4. BPI

5. Bear Brand

6. PLDT

7. Meralco

8. Metrobank

9. UnionBank

10. Philippine Airlines

Brand Finance also reported that Jollibee was the fastest-growing brand, recording a rise in brand value by 53 percent to USD 1.6 billion. It leaped three positions to 4th place while retaining a corresponding brand strength rating of AA-, the report said.

Fastest-growing brands in the Philippines

The fast food chain's performance was spurred on by its video promotional campaign titled "Salamat sa Joy ng Muling Pagsasama" ("Thank you for the Joy of Reunion"), highlighting the joy of eating out as pandemic restrictions eased.

This helped the brand's profits to soar 200 percent in the second quarter of 2022 as pandemic restrictions were eased, the report noted.

This year, we would like to congratulate PLDT, Globe Telecom and Jollibee for topping Brand Finance's Top 20 Philippines brands rankings as our most valuable, strongest and fastest growing brand respectively. We also see success in the nation’s banking sector, as banking brands' investments to digitalise and improve customer experience have resulted in brand value growth across all brands in the sector, said Alex Haigh, Managing Director – Asia Pacific of Brand Finance.

What do you think about this?

Source: Brand Finance