From HDFC Bank to SBI, here are India’s top 10 biggest banks. Check here
After the mega-merger of HDFC bank and HDFC, the formed Indian bank has made its position amongst the top-10 banks of the world. Not just HDFC Bank, other Indian banks like SBI, ICICI Bank, etc also hold larg market capitalisation. Know about India's top 10 biggest banks here
One of India's biggest bank mergers, HDFC-HDFC Bank, is effective from 1 July and has emerged as one of the world's top banking firms. The merger of HDFC Bank Ltd and Housing Development Finance Corp. will form a lender that will rank fourth in the equity market capitalisation at global level and will be valued at about $172 billion. The mega-bank will be just behind JPMorgan Chase & Co., Industrial and Commercial Bank of China Ltd. and Bank of America Corp., according to data compiled by Bloomberg.
After the inclusion of the Indian bank in the list of top global banks, take a look at other big banks of the country in terms of market capitalisation.
Top ten Indian banks (in terms of market capitalisation)
| Rank | Bank | Mcap ( ₹crore) |
| 1. | HDFC Bank (post merger) | 14,12,055.5 |
| 2. | ICICI Bank Ltd | 6,53,704.04 |
| 3. | State Bank of India | 5,11,201.77 |
| 4. | Kotak Mahindra Bank Ltd | 3,66,967.55 |
| 5. | Axis Bank Ltd | 304211.88 |
| 6. | Indusind Bank Ltd | 106707.03 |
| 7. | Bank of Baroda | 98436.88 |
| 8. | IDBI Bank Ltd | 59482.29 |
| 9 | Punjab National Bank | 56882.91 |
| 10. | Canara Bank | 54750.45 |
HDFC-HDFC Bank merger
The merger of HDFC Bank Ltd and Housing Development Finance Corp, resulted in the formation of a mega bank, whose customer numbers will surpass the population of countries like Germany.
The new bank will rank fourth in equity market capitalisation, behind JP Morgan Chase & Co., Industrial and Commercial Bank of China Ltd. and Bank of America Corp., reported Bloomberg. The value of the merged bank will be equivalent to $172 billion.
After 1 July, the new HDFC Bank entity will have around 120 million customers. Its branch network will also increase to over 8,300 and boast a total headcount of more than 1,77,000 employees. After the merger, HDFC will also surpass its peer banks like State Bank of India and ICICI Bank, in terms of market capitalisation.
Ahead of the merger, shares of HDFC twin rallied continuously in past months. The bank is also enjoying high levels of investor confidence. Its largest investor is JPMorgan. Its contingent convertible bonds, the riskiest type of debt that can convert to equity if a lender runs into trouble — has outperformed its global peers.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High