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According to GlobalData, these banks are in a strong position and have been included among the top banks worldwide which have the highest market capitalisation. JPMorgan Chase has secured the top rank
The RBI has also released a list of the most secure banks to address public concerns about bank safety. (Representative/News18 Marathi)
We often rely on savings accounts or fixed deposits banks offer to keep our money safe. However, recent times have highlighted concerns about bank stability, with even cooperative banks facing bankruptcy. The Reserve Bank of India (RBI), in response to these concerns and to enforce regulatory compliance, has taken punitive action against banks found violating rules. A list of the most secure banks has been released to address public concerns about bank safety.
There is no fear of these banks going bankrupt. Three Indian banks are included in the list of the top 25 banks globally. India’s HDFC Bank, ICICI Bank, and State Bank of India (SBI) have secured positions among the top 25 banks worldwide with the highest market capitalisation.
According to a report by data analytics and research company GlobalData, HDFC Bank has secured 13th place among the top 25 market cap banks in the world. ICICI Bank is at 19th and SBI is at 24th. At the end of the fourth quarter of 2023 (October-December), HDFC Bank had a market cap of $158.5 billion, ICICI Bank had $105.7 billion, and SBI had $82.9 billion.
The report stated that Indian banks are in a strong position. ICICI Bank’s market capitalisation increased by 25.8 per cent year-on-year to $105.7 billion during the period January-December 2024. During the same period, HDFC Bank’s market capitalisation increased by 1.6 per cent year-on-year to $158.5 billion.
According to the report, JPMorgan Chase has become the bank with the highest market capitalisation in the world. The US Federal Reserve Bank is also included in this list. Currently, an atmosphere of concern exists there due to the tariffs imposed by Donald Trump.
Top 25 Global Banks by Market Cap, Q4 2024
- JPMorgan Chase & Co.
- Bank of America Corp
- ICBC
- Agricultural Bank of China
- Wells Fargo
- Bank of China
- China Construction Bank
- Morgan Stanley
- Goldman Sachs
- HSBC Holdings
- Royal Bank of Canada
- Commonwealth Bank of Australia
- HDFC Bank
- Mitsubishi UFJ
- Charles Schwab
- China Merchants Bank
- Citigroup
- UBS Group
- ICICI Bank
- Al Rajhi Banking & Investments
- Sumitomo Mitsui Financial Group
- TD Bank
- DBS Group
- State Bank of India
- PNC Financial Services
