HDFC Bank is now more valuable than major European peers

Zee Media Bureau

New Delhi: Beating major European peers, HDFC Bank has gone ahead to become highly valuable lending institution only behind five European banks with worth more than $45 billion (RS 3.012 lakh crore).

Now, the Indian bank leads its European counterparts such as Barclays, ING, Royal Bank of Scotland, Credit Suisse and Deutsche Bank.

With its present market worth, it's twice the current market capitalisation of banking majors such as Deutsche Bank and Credit Suisse.

The sudden drop in market capitalisation of European banks has resulted due to crisis in the banking system of the region as a result of Brexit.