Telstra overtakes Woolworths as Australia's most valuable brand

Telstra has overtaken Woolworths as Australia's most valuable brand, according to independent brand valuation company Brand Finance.

Telstra's brand value jumped 23% in 2015 to be valued at US$10.7 billion.

The value is based on factors such as familiarity, loyalty, promotion, marketing investment and staff satisfaction.

"As flagged in last year's result, Telstra is now Australia's number one brand despite increasing competition especially in the mobile division," said Brand Finance managing director Mark Crowe.

"It is testimony to Telstra's continued brand strength which has driven a 23 percent increase in value, despite only a 3.6 percent increase in revenue."

Woolworths had been the brand leader and Telstra the runner-up in 2015 but increasing competition from Aldi saw Woolworths drop 14% in value.

Optus also cracked the top eight this year with a brand value of US$3.6 million.

The rest of the list was dominated by the big four banks - ANZ, CBA, Westpac and NAB - taking the third to sixth places, respectively.

Woolworth's rival Coles came in at seventh.

Meanwhile on the global stage, Telstra has climbed 35 places to rank 110.