HDFC Bank market cap to touch $100 bn by 2020: Goldman Sachs

It is already the country's most-valued bank at Rs 4,22,700 crore, or about $66 billion

Private sector lender HDFC Bank is likely to cross the $100 billion market capitalisation-mark by fiscal 2019-20, Goldman Sachs said in note. HDFC Bank is currently the country's most-valued bank with market value of Rs 4,22,700 crore (nearly $66 billion).

Doubling of profits to $5 billion (Rs 32,000 crore) by 2020-21 will be the key driver in taking HDFC Bank towards the $100 billion market cap milestone, the brokerage said.

Goldman Sachs expects HDFC Bank's earnings to grow at a compounded annual growth rate of 21 per cent in the next three financial years to 2019-20. It says the bank's latest earnings