Brand Finance announced an 11% increase in STC's brand value from 2016 to become US $ 6.2 billion. With this increase, STC has now become the most valuable brand in Saudi Arabia and in the Middle East.
Brand Finance CEO, David Haigh commented on this increase saying: "STC is embarking down a path of 'humanization' re-engaging its many stakeholders with a fresh, personable outlook. A clear indication of its success in this regard is a 5 point increase in its brand strength index score, improving customer perceptions on metrics such as consideration, preference and satisfaction. The financial value of its strategy is even more apparent; however, STC's brand value has risen 11% to US$6.2 billion. This means that it is now not just the most valuable brand in Saudi Arabia, but across the entire Middle East. A major coup for both STC itself but also for Saudi Arabia, which can now lay claim to the top spot in the region after years' of dominance by Emirates."
Dr. Khaled H. Biyari, STC Group CEO, stated: "This growth reflects the stature achieved by the customers, shareholders and the reason millions of customers around the world have placed their trust in STC as their telecommunications service provider. The 11% increase in brand value will reflect positively on the future economic value for the group showing the company's commitment to its customers through continuous development of the business, products, services and innovative solutions in the telecommunications sector."
Brand Finance is the world's leading independent branded business valuation and strategy consultancy. Headquartered in the City of London and present in over 20 countries, STC ranked number one based on a number of quantifiable attributes, such as the company's financial performance and sustainability, as well as customer's loyalty.