According to a new analysis, three Indian banks, HDFC Bank, ICICI Bank, and State Bank of India (SBI), finished the fourth quarter (Q4) of 2024 ranked 13th, 19th, and 24th in the top 25 global banks by market capitalisation, respectively.
According to GlobalData, a prominent data analytics and research business, HDFC Bank’s market capitalisation finished Q4 2024 at $158.5 billion, ICICI Bank’s was $105.7 billion, and SBI’s was $82.9 billion.
Indian banks displayed resilience, with ICICI Bank emerging as a standout performer, increasing its market capitalisation by 25.8 percent to $105.7 billion, demonstrating the strength of India’s burgeoning digital banking and credit ecosystem.
However, HDFC Bank’s market capitalisation increased by 1.6% to $158.5 billion as a result of increased competition and costs.
The aggregate market capitalisation of the top 25 global banks climbed by 27.1% year on year (YoY), reaching $4.6 trillion in the fourth quarter (Q4) ended December 31, compared to the same period ended December 31, 2023.
JPMorgan Chase continues to be the world’s largest bank by market capitalisation, with a 37.2 percent growth to $674.9 billion by the end of Q4 2024.
Goldman Sachs experienced a spectacular 42.9 percent rise, propelling it to ninth place on the leaderboard from 13th in the previous quarter.
According to the research, most stocks increased in Q4 as the US Federal Reserve dropped interest rates, while other regional markets fell due to concerns over trade tariffs.
According to Murthy Grandhi, a corporate profile analyst at GlobalData, the Federal Reserve decreased interest rates by 25 basis points in November and December 2024.
“However, in December 2024, the Fed caused a stock market sell-off by lowering the expected number of interest rate decreases in 2025. “This adjustment was motivated by concerns about persistently stubborn inflation,” Grandhi explained.
According to the analysis, tariffs projected to be implemented by Donald Trump’s administration and promised tax cuts in 2025 may counteract one another.
Rising sovereign debt, a stronger dollar, foreign outflows from developing markets, geopolitical concerns in West Asia, China’s economic stimulus, and the yen carry trade are all important issues that will have an impact on market performance and economic growth.
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