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HDFC Bank overtakes ICICI in m-cap race

October 24, 2008

HDFC Bank, India's second-largest private bank, has overtaken ICICI Bank, the largest private player, in terms of market capitalisation to top the rankings among private banks.

Among all banks, government-owned State Bank of India still tops the banking sector list with market cap of Rs 84,077 crore (Rs 840.77 billion).

For the complete story, click here...

ICICI Bank, which merged with development financial institution ICICI in 2002, first overtook SBI in the m-cap race on December 16, 2005.

It retained the number one slot till January 25, 2008, when the public sector bank regained leadership ahead of its rights issue.

ICICI Bank hikes home loan rates...

Image: A file photo of 2004, Aditya Puri, managing director of HDFC Bank, gestures in front of a poster. | Photograph: Rob Elliott/AFP/Getty Image

Also read: What the world's big guns say about the meltdown

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