After Merger, HDFC to vault into ranks of world’s most valuable banks

After Merger, HDFC to vault into ranks of world’s most valuable banks: According to Bloomberg, after the tie-up of HDFC Bank Ltd and Housing Development Finance Corp, the lender would rank fourth in equity market capitalization.

It’s valued at about $172 billion.

With the merger likely effective July 1, the new HDFC Bank entity will have around 120 million customers, which is greater than the population of Germany. JPMorgan Chase & Co ranked first, followed by Industrial and Commercial Bank of China Ltd and Bank of America Corp.