Turkish Airlines named country’s most valuable brand
Integrated telecommunications service provider Türk Telekom lost its lead as the most valuable brand of 2017 as its brand value dropped 27 percent year-on-year in 2018.
The brand value of Turkish telecommunication giant dropped to $1.9 billion in 2018, down from $2.6 billion last year.
Another telecommunications giant, Turkcell, ranked third on the list with $1.8 billion.
Akbank, a private Turkish lender owned by Sabancı Group, and Garanti Bank, another lender in the Turkish market partly owned by Spain’s BBVA, retained fourth and fifth places on the list with $1.65 billion and nearly $1.6 billion, despite increasing their brand values from last year.
The survey also showed that Beşiktaş has been ranked as the most valuable Turkish football club with $121 million. It was followed by Fenerbahçe ($102 million), Galatasaray ($74 million) and Trabzonspor ($33 million).
Brand Finance revealed that the total worth of Turkey’s 100 most valuable brands stood at $27.5 billion this year, almost unchanged compared to last year, according to the survey.
Muhterem İlgüner, managing director of Brand Finance Turkey, told Anadolu Agency that Turkish economy’s annual growth of 7.4 percent in 2017 positively affected the listed companies’ profitability and revenues, though they were limited by the drop in the value of the lira.
Last year, one U.S. dollar traded for 3.65 Turkish Liras on average, compared to 3.02 in 2016.
İlgüner highlighted that the total value of Turkey’s 100 most valuable brands hovered around to $25-35 billion in the last 11 years.
İlgüner pointed out that services sector dominates Turkish companies’ brand values.
“When Global 500 list are examined, industrial sector constituted 70 percent of the total value and 30 percent by services sector. In Turkey it is reverse,” he said.