HDFC Bank among top 10 banks in terms of Market Capitalization

HDFC Bank formed after the merger of HDFC Ltd (Housing Development Finance Corporation Ltd) with HDFC Bank becomes the 7th largest global lender in terms of Market Capitalization. The merger between HDFC Bank, an Indian bank, and HDFC Ltd materialized on 1st July, 2023.  Based on the data released by Bloomberg, as on 17th July, 2023, HDFC Bank ranks at seventh position with a market capitalization of $154 billion (Rs. 12.66 Lakh Crore).

HDFC Bank is the only bank from India that has succeeded in finding a place in the list.  Even though, six other banks rank better than HDFC Bank globally, the position offers an opportunity for celebration for India, as the Bank succeeded in pushing down banking behemoths like Bank of China, China Construction Bank and Royal Bank of Canada.

Market Capitalization (MC) represents the value of a company listed in a stock market. MC is calculated by multiplying the share price of the company reflecting in the stock exchange by the number of shares outstanding. The list published by Bloomberg places JP Morgan Chase, Bank of America and Commercial Bank of China on the top three ranks. Bloomberg is a leading institution engaged in financial researches and releasing accurate financial data and news that support decision making by financial professionals and banks across the world. The list published by Bloomberg is provided below:

Banks in India in terms of Market Capitalization(MC) 

The top three positions among banks in India, in terms of MC, are occupied by HDFC Bank, ICICI Bank and State Bank of India (SBI) respectively.  ICICI Bank occupies 16th position in the global list while SBI is ranked at 22nd.  

The Market Capitalization of this list is based on the share price that prevailed on July 1, 2023.