According to Times of India report, HDFC Bank will be among the world’s top 10 most valuable banks after its merger with the parent, mortgage lender Housing Development Finance Corporation (HDFC), at the current valuations and will also be the first Indian bank to make it to the Top 10 club. The combined market cap of HDFC Bank and HDFC would be around USD 160 billion.
- HDFC Bank is worth more than DBS Group and UBS (both valued at around $58 billion). The country’s largest lender State Bank of India ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.
- HDFC Bank is a systemically important bank in India along with SBI and ICICI Bank.
- Recently in April, RBI approved HDFC Bank’s proposed merger with parent and mortgage lender Housing Development Finance Corp Ltd (HDFC).
Important takeaways for all competitive exams:
- HDFC Bank Ltd MD & CEO: Sashidhar Jagdishan;
- HDFC Bank Ltd Establishment: 1994;
- HDFC Bank Ltd Headquarters: Mumbai, Maharashtra;
- HDFC Bank Ltd Tagline: We Understand Your World.