Published on 19 Jun 2024 on Zacks · via Yahoo Finance
ICICI Bank (IBN) is Now 18th Largest Bank Globally: Worth a Look?
On Jun 25, ICICI Bank IBN became the 18th largest bank globally in terms of market cap as it touched an all-time high of $28.84 per share. This Mumbai, India-based lender now has a market cap of approximately $101 billion, surpassing Switzerland’s largest bank UBS Group AG UBS, which has a market cap of almost $96 billion. Last year, UBS acquired Credit Suisse to become the biggest Swiss bank.Also, IBN is now the second lender from India to cross the $100 billion market cap mark after HDFC Bank Limited HDB. HDB has a market cap of roughly $119 billion.After a decent price performance last year, shares of ICICI Bank have soared 20.8% so far this year. The stock has also significantly outperformed the industry and the Zacks Finance sector, which jumped 0.8% and 5%, respectively, in the same time frame. Year-to-Date Price Performance
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