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The new rankings in banking
BS Research Bureau in Mumbai |
July 30, 2004 09:20 IST
After the merger of IDBI Bank with its parent, Industrial Development Bank of India, the merged entity will be among the top 10 banks in India.
It will displace HDFC Bank from the second place in terms of total assets and interest income.
The merged bank, with an asset base of Rs 80,000 crore (Rs 800 billion) as on March 31, 2004, will rank 7th, a quantum leap from the 35th position of IDBI Bank now.
The top six banks in terms of assets are the State Bank of India, ICICI Bank, Punjab National Bank, Canara Bank, Bank of Baroda and Bank of India.
Data available with the Business Standard Research Bureau show that IDBI Bank had a total asset base of Rs 13,002 crore (Rs 130.02 billion) as on March 2004, while IDBI had an asset base of Rs 66,921 crore (Rs 699.21 billion) as on March 31, 2004. The merged entity will have an asset base of Rs 79,923 crore (Rs 799.23 billion).
With a total market capitalisation of Rs 5,452 crore (Rs 54.52 billion), based on Thursday's closing prices, the new entity will rank 39th in the market cap league.
Now that the merged entity will report numbers as a bank, its ranking in terms of total income will jump from the current 37th position to fourth, just behind SBI, ICICI Bank and Punjab National Bank.
Among the 16 private banks, IDBI Bank will rank at the second place in terms of total assets and interest income, next only to ICICI Bank. ICICI Bank reported total assets of Rs 1,25,229 crore (Rs 1,252.29 billion) in financial year 2003-04.