The Vancouver Sun reports in its Thursday edition that Canadian banks continue to come out on top as the country's most valuable brands while energy and resource companies saw a notable decline in the last year, according to a company that follows such things. A Canadian Press dispatch to The Sun says Brand Finance's list released Wednesday analyzes brand performance of companies as of Jan. 1. It named Toronto-Dominion Bank as the most valuable brand in Canada with a worth of $10.4-billion.
It attributed TD Bank's work to establish itself in the U.S. market as a reason for its surge.
Royal Bank, Scotiabank, Bank of Montreal and Bell rounded out the top five most valuable brands in the ranking, growing 19 per in value.
Nearly half of the companies on the list saw their brand value drop, with energy and mining companies leading the pack, down 14 per cent year-over-year.
Brand Finance says its ranking showed that Enbridge saw a significant decline of $550-million in its brand value, partly due to the company's controversial Northern Gateway project and its current pipeline projects in the U.S.
The list also noted that Research in Motion's BlackBerry brand dropped off the top 10 list this year.
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