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Monday, January 19, 2015

HDFC Bank among world's 50 most valued banks in 2014

HDFC Bank is the lone Indian entity among the world's 50 most valued lenders in 2014 with a market capitalisation of close to $41 billion.

Ranked at the 45th position, the private sector bank is ahead of global majors Credit Suisse, DBS Group, and Standard Chartered with a market capitalisation of $40.58 billion.

In the top 50 list compiled by Relbanks, SBI has been ranked at 51th with market capitalisation of $36.40 while ICICI Bank with $33.42 billion is 55th.

With more than 70 million customers and over 9,000 locations and a market cap of $284.39 billion, Well Fargo of the USA is the largest bank in the world based on market capitalisation. It is the second largest bank in the US by deposits and debit cards.

Well Fargo is followed by the Industrial & Commercial Bank of China ( ICBC) with the market capitalisation of $269.70 billion. It is followed by JP Morgan Chase of again the USA with the market capitalisation of $ 233.94 billion.

Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia.

For the second quarter ended September 2014, HDFC Bank had reported a 20 per cent rise in net profit at Rs 2,381.5 crore as compared to Rs 1,982.32 crore.

However, this was the fifth consecutive quarter the private sector bank posted a sub-30 per cent increase in quarterly profits. For 37 straight quarters, the bank had posted at least 30 per cent profit growth.

Source : Economic Times


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