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World's most expensive bank still a strong buy

India's HDFC Bank has a higher price-to-book ratio than all the world's 50 largest lenders by value

New York

IT'S hard to overstate just how much global investors are captivated by HDFC Bank Ltd, India's biggest lender by market value.

Not only does the stock trade at the highest valuation among the world's largest banks, but international funds are so bullish that they're