SBI, HDFC Bank, ICICI Bank: India's top 3 lenders give tough competition to global banks in Q2. Here's how
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India's top three lenders, State Bank of India (SBI), HDFC Bank, and ICICI Bank, saw a rise in their market capitalization in Q2 2024, improving their ranking in the global banking landscape. HDFC Bank's market value gained 17%, reaching $154.4 billion and jumping three spots to the 10th position. ICICI Bank's market value increased by 11.5% to $102.7 billion, helping it climb two spots to the 18th rank. The market cap of SBI increased by 11.9% to $90.1 billion, moving it up two spots to the 21st place. The aggregate market capitalization of the top 25 global banks increased by 5.4% to $4.11 trillion in Q2 2024. China Construction Bank and HDFC Bank stocks recorded over 15% growth, while TD Bank saw a decline of nearly 10% in market value. JPMorgan Chase retained its position as the most valuable bank. The performance of global banks in the second half of 2024 will be influenced by economic conditions, monetary policies, inflation, geopolitical factors, and regulatory scrutiny.
#Sbi #HdfcBank #IciciBank #MarketCapitalization #GlobalBanks #Q22024
https://www.businesstoday.in/industry/banks/story/sbi-hdfc-bank-icici-bank-indias-top-3-lenders-give-tough-competition-to-global-banks-in-q2-heres-how-436937-2024-07-12
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2024-07-12 10:07:57
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2024-07-12 10:07:57Event JSON
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"content": "SBI, HDFC Bank, ICICI Bank: India's top 3 lenders give tough competition to global banks in Q2. Here's how\n==========\n\nIndia's top three lenders, State Bank of India (SBI), HDFC Bank, and ICICI Bank, saw a rise in their market capitalization in Q2 2024, improving their ranking in the global banking landscape. HDFC Bank's market value gained 17%, reaching $154.4 billion and jumping three spots to the 10th position. ICICI Bank's market value increased by 11.5% to $102.7 billion, helping it climb two spots to the 18th rank. The market cap of SBI increased by 11.9% to $90.1 billion, moving it up two spots to the 21st place. The aggregate market capitalization of the top 25 global banks increased by 5.4% to $4.11 trillion in Q2 2024. China Construction Bank and HDFC Bank stocks recorded over 15% growth, while TD Bank saw a decline of nearly 10% in market value. JPMorgan Chase retained its position as the most valuable bank. The performance of global banks in the second half of 2024 will be influenced by economic conditions, monetary policies, inflation, geopolitical factors, and regulatory scrutiny.\n\n#Sbi #HdfcBank #IciciBank #MarketCapitalization #GlobalBanks #Q22024\n\nhttps://www.businesstoday.in/industry/banks/story/sbi-hdfc-bank-icici-bank-indias-top-3-lenders-give-tough-competition-to-global-banks-in-q2-heres-how-436937-2024-07-12",
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