HDFC Bank has entered the exclusive club of companies with a $100 billion market capitalisation, making it the seventh-largest lender in the world.

Coming days after its reverse merger with parent HDFC Ltd, HDFC Bank has grown bigger than Morgan Stanley (market cap of $143 billion), Bank of China (138 bn) and Goldman Sachs ($108 bn). It is behind JPMorgan ($438 billion), Bank of America ($232 bn), Industrial and Commercial Bank of China ($224 bn), Agricultural Bank of China ($171 bn), Wells Fargo ($163 bn) and HSBC ($160 bn).

The bank’s market cap today crossed $150-billion on the Bombay Stock Exchange (BSE). 

The $40 billion mega merger, in which HDFC Bank acquired the parent entity HDFC Ltd, came into effect on 1 July. On 17 July, the HDFC Bank stock started trading as a merged entity. Shares of HDFC Ltd were delisted from the stock exchanges on 13 July.

In terms of market value on the BSE, HDFC Bank has become the third-largest Indian company after Reliance Industries (Rs 18.6 lakh crore) and TCS (Rs 12.9 lakh crore).