News: Spain's most valuable brands: Zara, Movístar and Banco Santander.

BUDGET high-street fashion chain Zara is Spain's most valuable brand for the first time ever, according to recent rankings, ahead of telecommunications company Movístar and financial entity Banco Santander.

The Best Spanish Brands 2017 ('Mejores Marcas Españolas 2017') report, now in its seventh year, lists the top 30 names in the country, as well as five others which are causing major changes in their industries.

And the Inditex clothing empire's most famous name, Zara, is at number one after its net worth increased in 2017 by 45%, to just under €15.5 billion, making it the brand that showed the most growth last year.

Movístar, formerly number one, shrank by 12% and now holds a net worth of just less than €10.65bn.

Banco Santander, worth nearly €5.6bn, its high-street rival, the BBVA bank, worth almost €4.7bn, and another Inditex brand – Zara's 'younger sister' Bershka, worth €1.42bn and up 18% - make up the top five and their positions are unchanged from the end of 2016.

Zara and Banco Santander are the only two Spanish firms that are also present in Interbrand's Best Global Brands report.

nditex has three names in the top 10 – upper-end high-street fashion brand Massimo Dutti is at number nine, having grown 29% in the last year.

Five brands described as 'disruptive' – although in a positive sense, meaning they have burst onto the market and changed the face of their sectors – are included and are named as RoomMate, El Ganso, Cabify, Glovo and Hawkers.

Second in Spain in terms of growth in 2017 is supermarket chain Mercadona, up by 31% to just over €1.25bn, allowing it to rise two positions in the rankings to number eight.

Zara's main rival, low-cost international clothing chain Mango, fell in net worth by 39% in 2017, dropping to number 18 in Spain, whilst State-owned financial entity Bankia dropped by 13%.

Two new brands have entered the list this year – beer manufacturers Estrella Galicia, at number 27 and worth €288 million, and private health insurers Sanitas, at number 29 and with a value of a quarter of a billion.

The majority of the top 30 most-valuable brands in Spain are well-known internationally, especially Zara, Banco Santander – currently the largest on British high streets – Mango, Movístar and the BBVA.