A man uses his mobile phone in front of a Telstra logo in central Sydney, August 13, 2009. Reuters/Daniel Munoz

Telecom giant Telstra has yet again achieved the top position in the list of Australia’s most valuable brands. The finding from an annual global survey reveals Telstra stands at the top with an estimate brand value of US$14.3 billion (AU$18.8 billion).

The value took a dive of about two percent over last year. Telstra is ranked 125th internationally.

“It is testimony to Telstra’s brand strength that despite a decline of 18 percent in enterprise value, Telstra’s brand value has only decreased by two percent,” Brand Finance Australia managing director Mark Crowe said. The telecom company’s brand value has seen a significant rise thanks to its business performance. Telstra’s reported revenue escalated by two percent and its expected cumulative annual growth rate rose from 3.7 percent last year to 4.2 percent this year.

As reported by AAP (via News Corp), Commonwealth Bank, ANZ and National Australia Bank finished second, third and fourth respectively. The three banks experienced a favourable increase in their estimated brand value.

Commonwealth Bank recorded a brand value of US$8.21 billion (AU$10.84 billion). ANZ came in a close third with a brand value of US$8.124 billion (AU$10.73 billion). National Australia Bank had a brand value of US$6.47 billion (AU$8.55 billion). According to Crowe, the cumulative brand value of the top 100 brands of Australia amounted to almost US$143 billion (AU$189 billion).

Woolworths, which had achieved the second spot previously, slipped to fifth because of a 21 percent downfall in its brand value. The brand had remained the most valuable in Australia from 2009 through 2015. “Falling profits and a significant decline in brand strength, along with intense competition, will continue to put pressure on Woolworths brand value, unless in particular an improvement in customer metrics can be achieved,” Crowe said.

On the other hand, Coles saw a 21 percent increase in its brand value – helping the Westfarmers-owned company owned climb two places to the sixth position. “Coles is now poised to pass Woolworths as Australia’s most valuable retail brand,” Crowe said.

Google grabbed the first position in the global ranking list, an achievement that comes after a period of five years. Google replaced Apple to attain the top spot. The tech giant’s brand value increased by almost 24 percent last year to US$109.5 billion (AU$144.65 billion). Apple’s brand value, on the other hand, fell 27 percent to US$107.1 billion (AU$141.48 billion).

Some of the other companies who finished in the top 10 included the likes of Amazon, Microsoft, Samsung and Facebook. The Industrial and Commercial Bank of China (ICBC) also found a place in the top 10.