ANKARA
One of Turkey’s largest private lenders has been chosen as ‘most valuable brand’ by an international ratings agency.
Akbank topped Turkey’s Most Valuable Marks-100 survey Monday with a brand value of $2.5 billion according to international agency, Brand Finance.
The bank was followed by Turk Telekom, the Turkish telecommunications giant, with a brand value of $2.47 billion and another lender, Isbank, with a value of $2.44 billion.
Brand Finance director for Turkey, Muhterem Ilguner, pointed to the fact that 69 percent of the total value of Turkey's 100 most-valuable brands is comprised of services-sector companies.
This is in comparison to 71 percent of the overall value of the world’s top 500 brands being based on their products instead.
"This chart suggests that Turkey has not managed to create valuable brands yet," Ilguner said.
According to the study, the total value of Turkey's 100 most-valuable brands amounted to approximately $25-35 billion dollars ,which is close to the value of a single brand on a global scale.
