World’s Top Banks: A report by data analytics and research company Global Data said that among the world’s top 25 market cap banks, HDFC Bank is ranked 13th, ICICI Bank 19th and SBI 24th.
SBI Market Cap: India’s HDFC Bank, ICICI Bank and State Bank of India (SBI) have made it to the top 25 banks with the highest market cap in the world. Data analytics and research company Global Data’s report said that among the top 25 banks with market cap in the world, HDFC Bank is ranked 13th, ICICI Bank is ranked 19th and SBI is ranked 24th.
By the end of the fourth quarter of 2024 (October-December), the market cap of HDFC Bank was $158.5 billion, ICICI Bank $105.7 billion, SBI $82.9 billion.
Indian banks in strong position
The report said that the position of Indian banks remains strong. During the period January to December 2024, the market cap of ICICI Bank has increased by 25.8 percent year-on-year to $105.7 billion. During this period, the market cap of HDFC Bank has increased by 1.6 percent year-on-year to $158.5 billion.
According to the report, the market cap of the world’s top 25 banks has increased by 27.1 percent year-on-year to $4.6 trillion by the end of December 2024.
This bank is the world’s largest
JPMorgan Chase remains the world’s largest bank by market cap. By the end of the fourth quarter of 2024, its market cap has increased by 37.2 percent year-on-year to $674.9 billion. During this period, Goldman Sachs’ market cap has seen a huge increase of 42.9 percent.
According to the report, most stocks rose in the fourth quarter due to interest rate cuts by the US Federal Reserve, while other regional markets remained under pressure due to concerns about tariffs.
The report speculated that tariffs imposed under Donald Trump’s administration and planned tax cuts in 2025 could balance each other.