Question
India's largest private sector lender HDFC Bank has
joined the list of global top 10 banks with $100 billion market capitalization.Which company is globally at the top in terms of market capitalization?Solution
With the listing of new shares of HDFC Bank issued to shareholders of parent entity HDFC Ltd following a $40 billion reverse merger deal, India's largest private sector lender has joined the list of global top 10 banks with $100 billion market capitalisation. HDFC Bank is behind JPMorgan ($438 billion), Bank of America (232 bn), China's ICBC ($224 bn), Agricultural Bank of China ($171 bn), Wells Fargo ($163 bn) and HSBC ($160 bn). As the merged entity, HDFC Bank has more m-cap muscle than global investment firms Morgan Stanley ($143 bn) and Goldman Sachs ($108 bn). In terms of market value on BSE, HDFC Bank remains the third-largest Indian company behind only Reliance Industries (Rs 18.6 lakh crore) and TCS (Rs 12.9 lakh crore). ICICI Bank is at the fourth spot in India and 19th slot in the list of world's top lenders with a market cap of $82 billion or Rs 6.68 lakh crore.
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