Domestic banks race past Deutsche

Four domestic lenders have surpassed German banking major Deutsche Bank in market capitalisation this year. Germany's biggest bank is currently valued at just $18 billion, following a 50 per cent slide in its stock price so far this year. In comparison, State Bank of India (SBI), ICICI Bank, Kotak Mahindra Bank and Axis Bank are all valued at over $20 billion, because of a decent run at the bourses. HDFC Bank, India's most valuable bank, is valued at nearly three times that of Deutsche Bank. The private sector lender is more valuable than several other banking biggies in Europe. Shares of Deutsche Bank slumped six per cent on Monday to its lowest level since the 1980s on concerns over its financial health. The lender is also facing a $14-billion demand from the US Department of Justice to settle claims of mis-selling of mortgage-backed securities. Also, German Chancellor Angela Merkel has ruled out state assistance before the national election in September 2017. The bank's health is viewed as a big risk to the global financial system by analysts. Samie Modak looks at how the banks stack up