Top Ten US Financials v/s SBI’s Market Cap

Lets take a look at the market cap of the top ten US Banks v/s  State Bank of India at yesterday’s closing prices.

JP Morgan Chase -$79bn

Wells Fargo- $45.94bn

Goldman Sachs – $39.84bn

Bank of New York Mellon – $24.57bn

Bank of America – $23.20bn

U.S. Bancorp – $22.99bn

Travelers Cos – $20.89bn

Morgan Stanley – $19.29bn

Metlife – $13.10bn

American Express – $12.83bn

If we compare the top bank in India in terms of market cap, State Bank of India (SBI) which closed at a market cap of $12.5bn, it seems like after topping Citigroup,Royal Bank of Scotland, Lloyds and Barclays (except first, rest are not based in US) , SBI is all set to overtake Metlife and American Express this year. Isn’t it amazing that two financials having operations all over the world being overtaken  by a bank with major presence in just one country. SBI is now close to Deutsche Bank. In two-three years, SBI could vault into the list of top 25 banks globally. I am not sure what is the ranking of SBI currently. If you have any idea then let me know!