Three Indian banks with a combined asset of $1.51 trillion, made it to the list of top 50 banks by assets in the Asia-Pacific region in 2023, as per a report released by S&P Global . These banks are- State Bank of India, HDFC Bank and ICICI Bank .

• ICICI Bank is a new entrant in the top 50 Asia-Pacific lender list. In 2022, only two Indian banks – SBI and HDFC Bank – were part of it.
• HDFC Bank’s ranking in the list jumped from 46 in 2022 to 33 in 2023.
• This is largely due to a sharp increase in the company’s assets following its merger with parent company Housing Development Finance Corporation (HDFC).
• HDFC Bank’s valuation jumped to $464.34 billion in 2023, over 51 per cent higher when compared with the previous year.