HDFC Bank among world's 50 most valued lenders in 2014: ReportNew Delhi: 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 (around Rs 2.5 lakh crore at 1 dollar
New Delhi: 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 (around Rs 2.5 lakh crore at 1 dollar = 61.86 rupees).
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 or M-Cap of $40.58 billion.
In the top 50 list compiled by Relbanks, State Bank of India (SBI) has been ranked 51st with a market capitalisation of $36.40 (Rs 2.2 lakh crore) while ICICI Bank is 55th ($33.42 billion or Rs 2 lakh crore).
With more than 70 million customers and over 9,000 locations and a market cap of $284.39 billion (over Rs 17.5 lakh crore), 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 a market capitalisation of $269.70 billion. It is followed by JP Morgan Chase of again the USA with a market capitalisation of $233.94 billion.
Top ten banks of the world include 4 from the US, 4 from China and one each from the UK and Australia.
For the 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 in the corresponding period in the previous year.
However, this was the fifth consecutive quarter the private sector bank posted a sub-30 per cent increase in quarterly profit.
For 37 straight quarters, the bank had posted at least 30 per cent profit growth.