World Economy

World’s Most Expensive Bank

World’s Most Expensive BankWorld’s Most Expensive Bank

It’s hard to overstate just how much global investors are captivated by HDFC Bank Ltd., India’s biggest lender by market value, Bloomberg reported. Not only does the stock trade at the highest valuation among the world’s largest banks, but international funds are so bullish that they’re willing to pay a record 20% premium over HDFC’s local stock price to get their hands on the limited number of shares available to foreigners. The bank has reported annual profit growth of at least 20% every year since 1998, a feat unmatched by any of the world’s 200 biggest lenders, and analysts say the firm will maintain that pace through at least March 2017.