First National Bank is the most valuable brand in South Africa, as banks dominated the list of the top 10 most valuable brands.

According to Kantar, the world's largest consumer research agency, FNB's brand value was estimated at $3.4 billion.

Standard Bank followed with a brand value of $3 billion.

The two other banks, Absa and Capitec placed 7^th and 9^th position respectively. They had brand values of $1.6 billion and $1.89 billion respectively.

Telecom giants MTN ($2.8 billion) and Vodacom ($2.6 billion) placed 3^rd and 4th respectively

Apart from the banks, the top 10 list also featured telecoms companies, fast food players and retailers.

South African Breweries' Castle brand took 5^th place with a $2 billion brand value, while Nando's ($1.79 billion), Woolworths ($1.19 billion) and DStv ($1.16 billion) took the 6^th, 7^th, 8^th and 10^th positions respectively.

Launching the report on Wednesday, Kantar said South Africa’s oldest bank, with roots dating back to 1838, FNB had continued to "successfully reinvent itself, remaining relevant to existing and new customers and maintaining a point of difference over others in the category".

It expaliend that the survey was the “most definitive and robust ranking of the country's brands available”, adding that “the 2023 ranking drew on the opinion of more than 42 000 respondents covering 844 brands and 56 categories”.

To be eligible to be ranked, brands had to have originally been created in South Africa “owned by an enterprise listed on the JSE or a credible stock exchange", or if private, have originated in SA while making their complete financial statements available to the public.