Achi news desk-
State Bank of India
– Image: ANI (file)
expansion
Indian banks have been the best performers compared to their Asian peers. Based on their performance, three large banks in the country took their place in the list of the top 50 banks in the world. These include the public sector banks SBI, HDFC Bank and ICICI Bank. In 2022, only two Indian banks managed to reach the top 50. According to the S&P Global report, bank assets have increased in recent years due to improved financial conditions, higher loan growth in a strong economic environment.
Assets increased by 50.5%.
According to the report, bank assets increased by 50.5% to reach $1.51 trillion in 2023. HDFC Ltd. in July, 2022. After the merger, HDFC Bank’s assets increased by 51.3% to $466.35 billion. rose 13 places to number 33 on the top 50 list.
A boom in credit growth in India
Credit growth in India has also accelerated, according to S&P. By December 29, 2023, it reached 15.6%, which is 14.9% a year ago.
