|  |  |  |  | 

Business Exclusive Headlines News

Indian Banks pip Chinese banks in Forbes 50 list

Mumbai, Sep 9 () : Financial institutions, HDFC and Kotak Mahindra  have overtaken the Chinese banks in the Forbes Asia’s ‘Fab 50′ history this year.

HDFC Bank, the nation’s most respected financial institution with the greatest market capitalisation, and Kotak Mahindra Bank are the only two banking organizations from Asia figuring in the history and among the 11 companies from India in the 2012 version of Forbes Asia’s Fab 50, HDFC Bank said in a declaration.

By the end of yesterday’s trade, HDFC Bank had a market value of Rs. 1,39,246 crore, while Kotak Mahindra Bank which improved 0.7% yesterday had a market capitalisation of Rs. 42,827 crore. Against this, the greatest financial institution SBI had m-cap of Rs. 1,26,661 crore while ICICI  had Rs. 1,07,123 crore. While HDFC Bank improved only by 0.60 % on a day when Sensex rallied 2 %, or 337 points, SBI improved 1.9 % and ICICI improved 4.7 %. (Source: www. moneycontrol.com)

HDFC Bank said it has been in the Forbes history for five subsequent years (from 2005 to 2010).

The four largest Chinese banks – Industrial and Commercial Bank of
China, Agricultural Bank of China, Bank of China, and China
Construction Bank together have a market capitalisation of nearly a
trillion dollars. (Source: PTI).

The ‘Fab 50′ history this period is proof of companies which are enduring the economic recession and are still increasing across trading markets like Asia, the US and Europe.

“A reducing economic climate weeds out the merely good companies from the truly great ones,” observed Forbes journal.

Tata Company Services and HCL Technology have made a comeback again into the history this period. Other household companies in the history include medication major Sun Drug, which is developing its first appearance, Asian Shows, Bajaj Auto, Bharti Airtel, ITC and Tata Engines.

The top 50 companies are selected from a history of 1,295 companies that have at least USD 3 billion dollars money in yearly earnings or market cap, with comeback again on value, price to earnings rate, stock price motions, etc. being key factors.