Context:
Chairman C.S. Setty announced on July 23, 2025, that State Bank of India (SBI) aspires to be among the top 10 global banks by market capitalisation over the next five years. The statement followed the listing of SBI’s â‚ą25,000 crore Qualified Institutional Placement (QIP) issue, the largest ever by an Indian firm.
Key Highlights:
- Strategic Ambition:
- SBI aims to enter the top 10 global banks by market cap by 2030.
- Currently ranks 27th globally (as per Bloomberg data, July 22, 2025).
- HDFC Bank ranks 11th; ICICI Bank ranks 17th.
- Capital Usage:
- Proceeds to boost Common Equity Tier 1 (CET-1) capital to 11.50% (from 10.81% as of March 31, 2025)
- Supports credit growth across retail, MSME, and corporate sectors
- Debt Capital Plans:
- SBI board approved raising up to â‚ą20,000 crore via AT1 and Tier II bonds
- AT1 bonds intended primarily for replacement of maturing bonds
Global Bank Market Cap Ranking
| Rank | Bank | Country | Market Cap ($ bn) | P/E Ratio |
|---|---|---|---|---|
| 1 | JPMorgan Chase | US | 810 | 15 |
| 2 | Bank of America | US | 355 | 14 |
| 3 | Industrial & Commercial Bank | China | 353 | 8 |
| 4 | Agricultural Bank of China | China | 292 | 7 |
| 5 | China Construction Bank | China | 281 | 6 |
| 10 | Royal Bank of Canada | Canada | 188 | 14 |
| 11 | HDFC Bank | India | 178 | 22 |
| 17 | ICICI Bank | India | 122 | 20 |
| 27 | State Bank of India (SBI) | India | 84 | 9 |
