HDFC Bank has gone past Russia’s Sberbank to become the most valuable bank in the emerging market outside China. HDFC Bank’s current market capitalisation is $78.4 billion against Sberbank’s $74.4 billion. Chinese banks are leading the pecking order in the emerging market, with Industrial & Commercial Bank of China topping the list with a market cap of $273.4 billion.
Globally, America’s JPMorgan Chase is the most valuable with a market cap of $353 billion, followed by Bank of America at $282 billion. There are four lenders from India that now rank among the world’s 500 most valuable companies. HDFC Bank is followed by its housing finance cousin Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and State Bank of India.
Source- Business Standard
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- HDFC Bank- India’s largest private bank by market capitalization.
- HDFC Bank Chairman- Aditya Puri, Headquarters- Mumbai.
- Reserve Bank of India labelled HDFC Bank as ‘domestic systematically important bank’ – in other words, ‘too big to fail’.