Merged HDFC Bank mcap settles at $154.2 bn; 7th most valuable bank globally

Shares of HDFC Bank rose 2.1 per cent to settle at Rs 1,679, valuing the lender at Rs 12.66 trillion, or $154.2 billion, making it the seventh’s most valuable lender globally. Monday was the first day when the 3.11 billion new shares of HDFC Bank issued to shareholders of erstwhile Housing Development Finance Corp (HDFC) commenced trading.

On July 12, the last trading day for HDFC shares, HDFC Bank was valued at Rs 9.2 trillion ($112 billion) and its global mcap ranking stood at 13. The league table of the world’s most valuable banks is topped by two US banks—JP Morgan Chase ($438 billion) and Bank of America ($232 billion). China’s Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of China occupy third and the fourth place. At present, Wells Fargo and HSBC are slightly ahead of HDFC Bank.