Nine of the top 20 Asia-Pacific banks by market capitalization logged declines in the 2021 fourth quarter, as a new variant of COVID-19 generated volatility in several markets, according tp S&P Global Market Intelligence research.
Kotak Mahindra Bank, Ping An Bank, HDFC Bank and Mitsubishi UFJ Financial Group reported decline of more than 5 per cent each in market capitalization for the quarter ended December. 31, 2021.
Singapore's DBS Group Holdings Ltd recorded the quarterly increase with a market cap gain of 7.72 per cent to $62.22 billion, followed by ICICI Bank Ltd with 5.74 per cent growth.
Major Chinese banks continued to be at top the ranking list, with Industrial & Commercial Bank of China Ltd leading with a market capitalisation of US$245.48 billion.
(With inputs from IANS)
