Indonesia’s BCA snatched the crown.
Indonesian lender Bank Central Asia is now the region’s largest bank in terms of market capitalisation, toppling Singapore-based DBS from the top spot.
This chart from Bloomberg shows that BCA's market cap has exceeded US$24 billion, while DBS's market cap has dropped below this threshold.
DBS’s shares have lost 37.8% of their value since August last year. The group’s share price dropped to $13.140 per unit in Thursday’s trading, compared to its recent peak of $21.120 in August 21.
In contrast, BCA’s share price has risen 18.6% from a low of IDR 11,252 per unit in August 24 to close at INR 13,350 per share as of Thursday.