Mumbai, Sep 17 (IANS): Private sector HDFC Bank has become Indias most valuable brand for the fifth year in a row with a 21 per cent rise in its brand value to $21.7 billion over the previous year, according to a survey.

According to a release here on Sunday, HDFC Bank retained its top spot in the "WPP and Kantar Millward Brown's BrandZ 75 Most Valuable Indian Brands" ranking that was started in 2014 by the global communication services company.

"HDFC Bank's brand value has grown consistently over the past 5 years, from $9.4 billion in 2014 to $21.7 billion in 2018. This year the study covered 120,000 Indian brands across 414 categories with insights from 3.1 million consumers," it said.

"A booming economy and an increasingly digital world are re-shaping India's brand landscape and creating new opportunities. Brands that get it right, regardless of whether they are established players or newcomers, are reaping the rewards," The Store WPP Chief Executive (EMEA and Asia) David Roth said in a statement.

HDFC Bank is also the only Indian brand to be featured in the BrandZTM Top 100 Most Valuable Global Brands ranking released recently by WPP group company Millward Brown, it said.

"The Bank moved up 3 notches up to 60 from its last year's rank of 63. The prestigious list is topped by Google. Other brands in the top 10 are Apple, Amazon, Microsoft, Tencent, Facebook, Visa, McDonalds, Alibaba and AT&T in that order," it added.