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HDFC Bank, SBI in list of top global banks

HDFC Bank and State Bank of India are finding place in the list of top 50 global banks in terms of market capitalization. HDFC Bank ranks 45th with a market capitalization of $39 billion and SBI with a market capitalization of $38 billion, is ranked 46th, according to Bloomberg’s list of the world’s 100 most valued banks. ICICI Bank, at 53rd rank, is the only other Indian entity to figure in the list. A year ago, no Indian bank featured among the 60 most valued global banks. At 65, HDFC Bank had the best ranking among Indian lenders. Industrial and Commercial Bank of China (ICBC) tops the list of global banks, with a market capitalization of $285 billion, over seven times that of HDFC Bank. Chinese banks dominate the list of the top 10 global banks, with Bank of China ($212 billion), China Construction Bank ($208.1 billion) and Agricultural Bank of China ($202 billion) also figuring in the list. Wells Fargo ($263 billion) and JPMorgan Chase ($205 billion) are other major global banks, ranked second and fifth, respectively.

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