Launched in 1994, India's HDFC Bank is now the world’s 10th most valuable bank and has surpassed Citibank and HSBC in worth standing at about $90 billion.
UCBs accounted for 1.8% of total industry credit in September 2025—down from 2.2% five yrs ago—showing that they are losing ground to faster PSU banks.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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