HDFC Bank To Rank Among Top 10 Global Banks Post Its Merger

As per a TOI report, post the merger of HDFC Bank into its parent entity at the current valuation, HDFC Bank will top among the 10 top banks globally. In fact it shall be the first Indian Bank to make it to the list.

The India-based private sector lender has a market cap of $108 billion and recently it surpassed the valuation of Citigroup commanding a valuation of $100.5 billion.

Also, the bank has a worth more than DBS Group and UBS each valued at $58 billion.

Further, post the merger, the combined market cap of the entity shall be around $160 bn.

Pertinently, after the bank notches a higher rank in both size and valuation-its measure of being systemically important shall also rise. The bank is already a systemically important bank but its rank as among the top 10 global banks shall add to its global importance.

An international body-the Financial Stability Board that offers recommendations on financial regulations has named JP Morgan -the most systemically important bank for 2021.