World’s Top Banks: Data analytics and research company Global Data reported that HDFC Bank is ranked 13th, ICICI Bank 19th and SBI 24th among the top 25 market cap banks in the world.
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 reported that HDFC Bank is ranked 13th, ICICI Bank 19th and SBI 24th among the top 25 market cap banks in the world.
By the end of the fourth quarter of 2024 (October-December), HDFC Bank’s market cap 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. ICICI Bank’s market cap grew 25.8 per cent year-on-year to $105.7 billion in the January-December 2024 period. HDFC Bank’s market cap grew 1.6 per cent year-on-year to $158.5 billion during this period.
According to the report, the market cap of the world’s top 25 banks grew 27.1 per cent 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. Its market cap grew 37.2 per cent year-on-year to $674.9 billion by the end of the fourth quarter of 2024. During this period, Goldman Sachs’ market cap saw a huge increase of 42.9 per cent.
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 over tariffs.
The report estimated that tariffs imposed under Donald Trump’s administration and tax cuts planned through 2025 could balance each other out.