National flag carrier Turkish Airlines (THY) has been named the country's most valuable brand in 2022, as in the last three years, according to a leading London-based independent branded business valuation consultancy research Wednesday.

The airliner topped the 16th edition of Brand Finance's Turkey 100 list for this year, boasting a brand value of $1.6 billion (TL 27.4 billion).

The carrier was followed by electronics maker Arçelik with a brand value of $1.4 billion.

Ford Otosan ranked third with a brand value of $819 million, which rose seven spots compared to the previous year. White goods and electronics producer Vestel also climbed seven spots and ranked fourth with a value of $720 million.

Telecommunications giant Turkcell maintained its fifth place with a brand value of $705 million. Meanwhile, a major clothing retailer LC Waikiki, which was not included in the list last year, secured sixth place with a value of $668 million.

Private lender Garanti BBVA ranked seventh. The bank’s brand value was $532 million while retailer BİM ranked eighth with $524 million value and another private lender, İşbank, ranked ninth with $507 million.

Telecommunications firm Türk Telekom secured the 10th spot with a brand value of $500 million.

This year, nine new brands from various business lines, namely LC Waikiki, Petrol Ofisi, İGA, Yayla, Kervan, Türkiye Sigorta, Sabiha Gökçen Airport, Aktif Bank and Ege Seramik, were included in the list.

The highest increase in the values of the brands in the top 100 was in Medikal Park with 67.2% and Odeabank with 48.1%.

In the said period, the highest decrease in brand value was in Do&Co with 69.5%. This brand was followed by Tat with 67.2% and Anadolu Isuzu with 65.8%.

Brand Finance Turkey Managing Director Muhterem Ilgüner, commenting on the listing, said Turkey is a country with a high ability to generate value due to its potential and assets and the geographical assets it owns as well as the products and services it produces.

İlgüner stated that Turkey will increase the level of welfare as long as it can mobilize value creation opportunities, adding, "For this, branding should be considered as a matter of the country, strategies and policies should be developed accordingly, and the passion for producing valuable brands should be used both in the private sector and in the public sector."