HDFC Bank has topped the charts for the third consecutive time, in the recently unveiled BrandZ Top 50 most valuable Indian brands for 2016. It was followed by Airtel and State Bank of India who clinched the second and third spots although their valuations this year dropped by 10 and 32% respectively.

Asian Paints was placed at fourth, followed by ICICI Bank, Bajaj Auto, Kotak Mahindra Bank, Maruti Suzuki, Hero and Axis Bank in that order. The list is dominated by banks and financial companies, accounting for 38% of the total value of the top 50 brands.

The overall value of top 50 brands in the country witnessed a marginal dip of 2% this year and the total value of the country’s top 50 brands is now worth $90.5 billion from $92.2 billion in 2015.