HDFC Bank has become the 10th largest bank in the world by market capitalization. This achievement follows the merger of HDFC Bank with its parent company, HDFC Ltd, a leading housing finance company in India. The merger has propelled HDFC Bank to the forefront of the global banking industry, solidifying its position as India’s largest private sector bank. As per the latest rankings, HDFC Bank has become the 10th largest bank in the world. Read about Top 10 largest banks in world.
Top 10 largest banks in the world in 2024
| Rank | Bank | Headquarters | Market Cap |
|---|---|---|---|
| 1 | JPMorgan Chase | New York, USA | $551.03 B |
| 2 | Bank of America | North Carolina, USA | $288.96 B |
| 3 | Industrial and Commercial Bank of China Limited | Beijing, China | $249.28 B |
| 4 | Wells Fargo | California, USA | $208.41 B |
| 5 | Agricultural Bank of China | Beijing, China | $207.79 B |
| 6 | Bank of China | Beijing, China | $171.35 B |
| 7 | China Construction Bank | Beijing, China | $166.19 B |
| 8 | HSBC | London, UK | $164.48 B |
| 9 | Morgan Stanley | New York, USA | $148.90 B |
| 10 | HDFC Bank | Mumbai, India | $147.31 B |
As of May 2024 HDFC Bank has a market cap of $149.34 Billion. The Reserve Bank of India (RBI) has identified the HDFC Bank, State Bank of India, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are “too big to fail”. Read about Top 10 largest banks in world
HDFC Bank was incorporated in 1994 as a subsidiary of the Housing Development Finance Corporation, with its registered office in Mumbai, Maharashtra, India.
