Akbank remains Turkey's most valuable banking brand for the fourth consecutive year, as indicated in the World's Most Valuable Banking Brands of 2015 Report released by Brand Finance. While the total brand value of the top 500 banks in the report increased by 5 percent compared to 2014, the brand value of Akbank increased by nearly 27 percent, reaching more than $2.5 billion. Akbank came 81st on the list of the most valuable banking brands in the world, jumping 13 places compared to early 2014. Akbank CEO Hakan Binbaşgil emphasized that Turkey needs more brands to reach its targets. "We see there is a fierce competition in Turkey and internationally. It is not enough to simply produce and sell in this kind of environment. Branding is a very important part of becoming more competitive and contributing to Turkey's national income, whether in the real sector or in the service sector," Binbaşgil said. Highlighting that brand value is one of the most important values of a company, Binbaşgil added, "Besides conventional financial indicators, a company's brand value plays an important role in shaping the preferences of investors today."