Top 25 global banks see 7.8% QoQ growth in MCap during Q1 2024

Sheryl_Wharff Posts: 274 QUANTEXA TEAM

. Citigroup and Sumitomo Mitsui Financial stocks see over 20% growth
. Indian banking major HDFC Bank loses over 15% market value
. JPMorgan Chase continues to top for the eighth consecutive quarter

The aggregate market capitalization (MCap) of the top 25 global banks surged ahead by 7.8% to $3.89 trillion quarter-on-quarter (QoQ) during the first quarter (Q1) ended on 31 March 2024, driven by expectations of interest rate cuts. Notable highlights include Citigroup and Sumitomo Mitsui Financial stocks recording over 20% growth, while HDFC Bank faced a significant decline of over 15% in market value. Despite challenges, JPMorgan Chase retained its position as the most valuable bank for the eighth consecutive quarter, reflecting resilient performance amidst evolving economic landscapes, reveals GlobalData, a leading data and analytics company.

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