How valuable are our banks ?

The Industrial and Commercial Bank of China (ICBC), China's largest lender is coming out with IPO. After the IPO, its valuation will roughly be about $87 billion. This is almost one and half times of the collective market capitalisation of all the listed Indian banks. The market cap of 37 listed Indian banks is roughly $62.76 billion. But ICBC is still for behind Citigroup which has market cap of $140 billion.