The property dimension of the nation’s prime banks has improved in 2021 with State Bank of India (SBI) and HDFC Bank climbing up two notches within the newest S&P Global Market Intelligence’s rating of the Asia-Pacific’s largest banks. What’s extra, the third-largest lender – ICICI Bank — has discovered a spot within the league desk with the rank of fifty. The three lenders collectively have an asset dimension of $1.2 trillion, which is 2.1% of the combination property of the highest banks in Asia.
The rating, which was based mostly on the whole property, options the biggest state lender SBI in twenty second place, whereas HDFC Bank occupied the forty fourth slot within the newest rating. Among the highest 25 lenders, solely SBI and Industrial Bank Co of China have seen two notches leap within the rating.
“Banks in the Asia-Pacific face uncertainties from the Russia-Ukraine conflict and divergent monetary policies in the region. The rising pace of inflation, fueled by higher commodity prices, has pressured the region’s central banks to follow the US Federal Reserve and end ultra-loose monetary policies. Still, many central banks, especially in China, see the need to support their economies as they continue to face the drag from the Covid-19 pandemic,” noticed S&P Global Market Intelligence.
However, practically half of the checklist is dominated by Chinese lenders whereas Japan comes second with eight banks that includes within the checklist. Twenty-two mainland Chinese banks made it to the checklist, holding mixed property of $34.526 trillion at finish of 2021, rising greater than 10% from a yr in the past. The mixed property of all 50 banks collectively stand at $56.32 trillion. South Korea and Australia have six and 4 lenders, respectively, featured on the rating.
With 20.05% compounded annual progress in web revenue and comparable progress in deposits, the whole property of HDFC Bank surged by 18.9% over the past 5 years to $267.12 billion on the finish of 2021. While the whole property of SBI grew by 9.5% over the past 5 years, ICICI Bank noticed its property develop by 11.4% throughout the identical interval.
Nevertheless, the Indian banks boast of a better rank in market capitalisation as of March 2022, with HDFC Bank commanding seventh rank in Asia pacific area. While ICICI Bank is ranked 14th on the checklist, SBI is occupied seventeenth rank.
Source: www.financialexpress.com”