HDFC Bank most valuable bank in the emerging market outside China

HDFC Bank has been one of the biggest gainers

HDFC Bank has gone past Russia's Sberbank to become the most valuable bank in the emerging market outside China. HDFC Bank’s current market capitalisation is $78.4 billion against Sberbank's $74.4 billion. 

Chinese banks are leading the pecking order in the emerging market, with Industrial & Commercial Bank of China topping the list with a market cap of $273.4 billion, followed by China Construction Bank ($225.1 billion). Globally, America's JPMorgan Chase is the most valuable with a market cap of $353 billion, followed by Bank of America at $282 billion.

There are four lenders from India that now rank among the world's 500