On July 17, private lender HDFC Bank, the seventh-largest lender globally, joined the exclusive $100 billion market-cap club. The bank outperformed Morgan Stanley and Bank of China in terms of market capitalization, reaching $151 billion.The seventh-largest lender in the world as of July 2023, HDFC Bank has a market value of almost $151 billion.Following a successful merger with its parent firm, the Housing Development Finance Corporation Ltd (HDFC), the bank has now joined this elite group. After the merger, which took effect on July 1, a new company with a combined market value of over $157 billion was formed. By market capitalization, it surpasses even the biggest global investment companies like Goldman Sachs, making it one of the biggest banks in the world.In terms of market capitalization, HDFC Bank behind JPMorgan with $438 billion, Bank of America with $232 billion, the Industrial and Commercial Bank of China with $224 billion, the Agricultural Bank of China with $171 billion, Wells Fargo with $163 billion, and HSBC with $160 billion. HDFC Bank also trails these financial institutions in order of market cap.An even first quarter for HDFC Bank, with standalone profit up 30% year over year (CNBCTV18)HDFC Bank’s Guardians of the Day has produced a consistent HDFC Bank’s first quarter was stable, with standalone profit up 30% year over year.HDFC Bank’s impressive performance is reflected in its financial growth. The bank’s annual revenue for 2023 was $24.102 billion, marking a 14.02 per cent increase from 2022. Over the past decade, the bank’s market cap has shown a steady upward trend, increasing from $24.29 billion in 2010 to $151.10 billion in 2023.The financial expansion of HDFC Bank is a testament to its outstanding performance. The bank’s yearly income in 2023 increased by 14.02% from 2022 to $24.102 billion. Market capitalization of the bank has increased steadily over the previous ten years, rising from $24.29 billion in 2010 to $151.10 billion in 2023.Additionally, HDFC Bank recently completed a successful US public offering of 17.5 million American depository shares, raising roughly $1.81 billion. Through HDFC’s qualifying institutions’ placement in India, an extra 12.8 million equity shares were made accessible.On Monday, July 17, the HDFC Bank shares began trading as a combined company. On Friday, July 13, HDFC Ltd. shares was delisted from stock markets.The bank distributed $3,11,03,96,492 in fresh stock on July 14 to eligible shareholders of HDFC Ltd under the all-stock merger deal where every HDFC shareholder got 42 shares of HDFC Bank for every 25 shares held in the company. The paid-up share capital of the lender increased to 753,75,69,464.

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