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Brand equity is one of the most significant concepts in branding and marketing, and its model and measurement have interested many academics and practitioners. Most of the research on brand equity has focused on physical goods, with a need for studies on the service sector in general and particularly in the banking sector in developing countries. The need for more research in this area appears contradictory, as branding plays a distinctive role, particularly in the service sector. Most of the research on brand equity has focused on developed countries and yielded good results; thus, it would suggest a regional focus on developing countries. There needs to be more empirical evidence in the service and banking sectors, particularly in developing economies. This study contributes to scholarly attempts to fill the gaps in the brand equity literature regarding the service sector of banks. This study focused on general commercial banks in Pakistan without distinguishing between Islamic and conventional banks. Therefore, future research could carefully distinguish between Islamic and conventional banks and compare brand equity models across them to better understand the differences and similarities.