Is HDFC largest bank in India?
HDFC Bank's market cap increased 12.1% to $155.91 billion, cementing its position as India's largest bank, following its merger of parent Housing Development Finance Corp Ltd in July 2023.
State Bank of India (SBI)
With its headquarters in Mumbai, SBI is India's largest public sector bank.
As of 2023, the world's biggest private bank in terms of assets under management (AUM) is UBS Group AG. UBS, a Swiss multinational investment bank and financial services company, is renowned for its extensive services in wealth management, investment banking, asset management, and retail banking.
While HDFC Bank is the larger of the two lenders, ICICI Bank is continuing on its trajectory of closing the gap with its larger peer.
The market capitalization of HDFC Bank is 1051256.71 Cr as on Wed Feb 14 2024 10:28:15.
ICICI Bank (2nd largest bank in India by market capitalisation): Established in 1994, ICICI Bank is known for its customer-friendly approach, competitive rates, and advanced technology.
Axis Bank is powered by a dedicated workforce of over 91,898 employees and reports an impressive revenue of Rs. 1,06,155 crore with a net income of Rs. 10,818 crore. In 2023, Axis Bank secured its position as the third-largest private bank in India.
The “big four banks” in the United States are JPMorgan Chase, Bank of America, Wells Fargo, and Citibank. These banks are not only the largest in the United States, but also rank among the top banks worldwide by market capitalization, with JPMorgan Chase being the most valuable bank in the world.
From investment view point, analysts see 45% upside in HDFC Bank and 42% upside in ICICI Bank from a one-year perspective. While Emkay Global opines that ICICI Bank can maintain its outperformance over HDFC Bank if it sustains its core performance and realises top management premium.
HDFC Ltd, over the last 45 years has developed one of the best product offerings making it a leader in the housing finance business. HDFC Bank enables seamless delivery of home loans as a part of its wide product suite catering to urban, semi urban and rural India.
Why HDFC is No 1 bank in India?
HDFC Bank's market cap increased 12.1% to $155.91 billion, cementing its position as India's largest bank, following its merger of parent Housing Development Finance Corp Ltd in July 2023. Other large Indian banks also saw higher market caps.
Its Liquidity Cover Ratio (LCR) fell to 109.8 per cent from 120 per cent QoQ due to a drawdown of liquid assets to fund loan growth. The bank's loan-to-deposit ratio (LDR) rose from 108.4 per cent to 110.5 per cent QoQ. The LDR for standalone HDFC Bank was 89 per cent in Q3FY24 versus 85 per cent in Q1FY24.
In terms of the bank's distribution network, according to the information available in the last financial year's annual report, SBI operates a total of 22,405 branches, whereas HDFC has an extensive network with more than 7,800 branches across India.
The merger has come about to serve client needs better and adapt to the changing needs of the broader industry. Post-merger, HDFC Bank is currently the 11th largest lender in the world and the largest bank in India.
Which bank is the safest bank in India? The Reserve Bank of India (RBI) regulates the safety of banks in India. Among the prominent banks known for their stability and safety measures are the State Bank of India (SBI), HDFC Bank, ICICI Bank, and Punjab National Bank (PNB).
In the previous fiscal (FY23), SBI was the most profitable company with a net profit of Rs 50,232 crore, followed by Reliance Industries and HDFC Bank, which posted Rs 44,190-crore and Rs 44,109-crore net profit, respectively, according to Capitaline data.
In India, HDFC Bank has continuously been ranked among the best banks in terms of both assets and client happiness. The Reserve Bank of India (RBI) controls the bank, ensuring that it follows strict financial laws and security procedures.
Among the top 10 banks in India, the bank that makes the highest yearly revenue is HDFC bank. In 2022, HDFC Bank's annual revenue stands at ₹1.68 lakh crores. After HDFC Bank, ICICI Bank has the second-highest annual revenue.
My salary account is maintained with HDFC Bank for nearly 10 years and till now there was no issues. Its a friendly bank according to my experience. I am using the online service which is very good. Their customer service was good but fixed deposit interest rates was less.
For instance, AMB for an HDFC Bank Regular Savings Account is ₹10,000 for metro and urban areas and ₹5,000 for semi urban areas; whereas AMB for an HDFC Bank DigiSave Youth Account, is ₹5,000 and ₹2,500, respectively. HDFC Bank offers Savings Max Account that comes with a ₹25,000 AMB.
What is the most prestigious bank?
Goldman Sachs & Co.
Goldman Sachs is widely known as the most prestigious investment bank on Wall Street.
(HDFC) is headquartered in Mumbai and is the largest private bank in India. With a substantial revenue of Rs. 1.68 Lakh Crores and a net income of Rs. 38,151 Crores in 2022, HDFC offers a diverse range of services, encompassing Retail and Wholesale Banking, Credit and Debit Cards, Home Loans, Auto Loans, and more.
1. JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said.
Private banks also offer high-value financing for assets like aircrafts, yachts and real estate, with some banks even offering asset and lifestyle management rather than just financial products. Another reason rich people will choose private banking is for privacy reasons.
Not only were the Rothschilds the largest bank, they had ten times the capital of Barings, the second largest bank, in 1825. Having originally been a dealer in medals and coins, Mayer Amschel Rothschild (1744–1812) became a banker in Frankfurt, with the second son Nathan (1777–1836) based in England by 1798.
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