ICICI Bank's U.S.-listed stock rallied into record territory Monday, as investors cheered the India-based bank's fiscal third-quarter results, which showed.
A gauge of the countrys top 12 biggest banks is set for its worst week since September, erasing around $21 billion in market value through Thursdays close. HDFC Banks earnings has now raised concern about reports from peers ICICI Bank Ltd, Kotak Mahindra Bank Ltd and Axis Bank Ltd.
HDFC Bank, India s largest private sector lender, is seeking approval for a banking license in Singapore. The bank aims to tap into the Indian diaspora in Singapore for savings and term deposits, as well as cross-sell products like mortgages. HDFC Bank already has a presence in London, Hong Kong, and Bahrain. With a customer base of 93 million, the bank is expanding its reach overseas after a merger with Housing Development Finance Corp. last year.
HDFC Bank share price today: In the near term, successful merger transition, elevated operating costs (due to continued expansion) and margin trajectory will be key monitorables, said a brokerage.