Sabah - Having overcome the effects of the global financial crisis without any government backing, Turkish banks advance to higher spots in Global Banking 500, an annual ranking of banking institutions by their brand value, prepared the London-based brand valuation company, BrandFinance.
This year’s Global Banking 500 has 11 banks from Turkey with a total brand value of USD 10.38 billion and although the number of banks remains unchanged from 2010, Turkish banks have risen in rank considerably in 2011’s survey. According to the ranking, Isbank rose to 75th place from last year’s 91st, with USD 2.28 billion in brand value, while Akbank secured the 94th, up from last year’s 115th. Garanti Bank has made it to the first 100 for the first time by taking the 95th spot, thus increasing the number of Turkish banks in the top 100 list to three. With a brand value of USD 1.39 billion Yapi Kredi took the 117th place, while the state-owned Vakifbank jumped 51 places from 200th place to 149th position. Halkbank, Finansbank, TEB, Denizbank, Bank Asya and Sekerbank are the other Turkish banks that have made it to the list.