Private sector lender HDFC Bank on Friday surpassed State Bank of India (SBI) as the country's most valued bank, in terms of market capitalisation, for the first time since January. Based on on Friday's closing price, HDFC Bank's market capitalisation stands Rs 1,37,727 crore, compared with SBI's Rs 1,30,250 crore.
SBI is the country's largest bank in terms of balance sheet, while ICICI Bank, which has the second-largest balance sheet, has market capitalisation of Rs 1,04,223 crore. Shares of HDFC Bank on Friday closed at Rs 587, up 3.75 per cent over the previous close, while those of SBI closed at Rs 71.35, about 3.54 per cent lower on the National Stock Exchange. Barring a few days, SBI, which accounts for about a fourth of the country's loans and deposits, has been the leader in terms of market value since 2008. Before that, ICICI Bank held the top position for about two years.
