HDFC Bank Beats World’s Top Banks
HDFC Bank the Most Expensive But Also Favoured by Analysts.
Wells Fargo, ICBC, HSBC Holdings, BNP Paribas and HDFC Bank are the
biggest in terms of market capitalisation across five countries – the U.S., China,
Britain, France and India.
In today’s chart of the day, we compare the market return of
these top five banks.
All five banks started the year on a negative note but HDFC Bank managed to
turn positive after the announcement of its March quarter earnings on April 22, 2016.
All four global banks in our list have given negative returns year-to-date. HDFC Bank on the other hand, has risen 15 percent in the same period. It is also the most expensive bank in this list, trading at a forward price to book ratio of 4. The global banks trade in the range of 0.5 to 1.3 times.
Despite being the most expensive, the Indian bank is the most highly rated by analysts. 93 percent of analysts tracked by Bloomberg have a buy rating on the stock. China’s ICBC comes a distant second, with 81 percent buy rating.