Best Banks In India
Banks and Financial institutions are the heart of the economy and integral part of the economy. India a developing country with a GDP of nearly $2.6 trillion and growing more then 7% a year. Banks plays an important role in the growth of the economy. So here is a list of top 10 banks in India. This list consists of Public sector as well as private sector bank and weight age given to valuations and asset size.
1. State Bank Of India (SBI)
- Asset: $480 Billion
- Market Capitalization: 3,03,480 Cr.
- Number Of Locations: 24,000
State bank of India (SBI) is an Indian multinational, public sector banking and finance company. it’s a government corporation statutory body and has its headquarter in Mumbai, Maharashtra. it’s the biggest bank in Republic of India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market. SBI provides a variety of banking merchandise through its network of branches in India and overseas, together with merchandise aimed toward non-resident Indians (NRIs).
SBI has sixteen regional hubs and fifty seven zonal offices that are set at main cities all over India. As of 2014–15, the bank had 191 overseas offices meet 36 countries having the biggest presence in foreign markets among Indian banks. So it is number one in the list of top 10 banks in India.
Also Read: Nationalised Banks In India
2. HDFC Bank
- Asset: $150 Billion
- Market Capitalization: ~6,50,000 Cr.
- Number Of Locations: 2,748
HDFC Bank restricted (Housing Development Finance Corporation) is an Indian banking and finance company having headquarter in Mumbai, Maharashtra. It has 88,253 permanent staff as of 31 March 2018 and includes a presence in Bahrain, hong kong and Dubai. HDFC Bank is India’s largest private sector lender by assets.
HDFC Bank provides variety of product and services as well as wholesale banking, retail banking, treasury, auto loans, 2 wheeler loans, personal loans, loans against property, consumer durable loan, life-style loan and credit cards. it’s the biggest bank in India by Market capitalization as of June 2019. so it secured second position in the list of top 10 banks in India.
3. ICICI Bank
- Asset: $130 Billion
- Market Capitalization: ~2,70,480 Cr.
- Number Of Locations: ~4500
ICICI Bank restricted is associate Indian transnational banking and financial services company headquartered in Mumbai, Maharashtra. ICICI Bank is that the third largest bank in India in terms of assets and market capitalization. It offers a good vary of banking product and financial services for company and retail customers through a range of delivery channels and specialized subsidiaries within the areas of investment banking, life, non-life insurance, capital and asset management.
ICICI bank contains a network of 4867 branches and 14367 ATMs across Republic of India and has a presence in seventeen countries as well as India. The bank has subsidiaries within the uk and Canada; branches in u. s., Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, dubai International Finance Centre, China and South Africa; and representative offices in United Arab Emirates, Bangladesh, malaysia and Republic of Indonesia.
4. Axis Bank
- Asset: $96 Billion
- Market Capitalization: ~2,05,000 Cr.
- Number Of Locations: 4,000
Axis Bank is that the third-largest of the private-sector banks in India giving a comprehensive suite of financial product. The bank has its head office in Mumbai, Maharashtra. it’s 4050 branches, 11,801 ATMs and 4,917 cash recyclers spread across the country as on 31 March 2019 and 9 international offices. The bank employs over 55,000 individuals and had a market capitalization of nearly 2,00,000 cr.
The Bank has 9 international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai, Colombo and representative offices at Dhaka, Dubai, Sharjah and Abu Dhabi, that target company disposition, trade finance, syndication, investment banking and liability businesses. additionally to the on top of, the Bank contains a presence in Britain with its entirely owned subsidiary Axis Bank UK limited.
5. Bank Of Baroda (BOB)
- Asset: $100 Billion
- Market Capitalization: ~40,480 Cr.
- Number Of Locations: 9,385
Bank of Baroda (BoB) is an Indian multinational, public sector banking and finance company. BOB is owned by Government of India.it has a network of 9585 branches in India and abroad, and 10441 ATMs as of July, 2017. the govt. of India proclaimed the merger of Bank of Baroda, Vijaya Bank and Dena Bank on September 17, 2018 to make the country’s third largest lender. The consolidation is that the first-ever three-party consolidation of banks within the country, with a combined business of Rs 14.82 lakh crore, creating it the third largest bank after state bank of India (SBI) and HDFC Bank. Bank of Baroda is second largest Public sector bank in India.
6. Punjab National Bank
- Asset: $110 Billion
- Market Capitalization: ~34,000 Cr.
- Number Of Locations: ~7000
Punjab National Bank (PNB) is an Indian multinational banking and Finance company. it is a government of India owned corporation primarily having header quarter in New Delhi, India. The bank was founded in 1894. As of 31st March 2019, the bank has over one hundred ten million customers, 7001 branches and 10681 ATMs across 764 cities.
PNB has a market Capitalization of nearly 34,000cr and with a total asset of $110 billion making it the 3rd biggest Public sector bank.
7. Bank of India
- Asset: $88 Billion
- Market Capitalization: 27,673 Cr.
- Number Of Locations: 5,100
Bank of India (BOI) is bank with headquarters at Mumbai, India and it’s one amongst the top five PSU banks in India. Founded in 1906, it’s been government-owned since nationalization in 1969. Bank of India has 5100 branches as on 31 January 2017, together with 56 offices outside India, which has 5 subsidiaries, 5 representative offices, and one venture. BOI may be a founder member of SWIFT, that facilitates provision of cost-efficient financial provisioning and communication services.
8. Canara Bank
- Asset: $90 Billion
- Market Capitalization: 19,712 Cr.
- Number Of Locations: 6,310
Canara Bank is one among the biggest public sector banks owned by the govt of India. it’s headquartered in Bengaluru. it was established at Mangalore in 1906 by Ammembal Subba Rao Pai. it’s one among the oldest public sector banks within the country. the govt. nationalized the bank in 1969. As of 31 March 2019, the bank had a network of 6310 branches and quite 8851 ATMs that is unfold across 4467 centers. The bank conjointly has offices abroad in London, Hong Kong, Moscow, Shanghai, Dubai, United Republic of Tanzania and new york.
9. Central Bank of India
- Asset: $47 Billion
- Market Capitalization: 9,126 Cr.
- Number Of Locations: 4,685
Central Bank of India, a government-owned bank, is one among the oldest and largest industrial banks in India. it’s based mostly in Mumbai that is that the financial capital of India and capital city of state of Maharashtra. Central bank of India features a venture with Bank of India, Bank of Baroda, and also the Zambian government. The Zambian government holds forty per cent stake and every of the banks has twenty per cent. So it secured ninth position in the list of top 10 banks in India.
10. Indian Overseas Bank
- Asset: $40 Billion
- Market Capitalization: 10,604 Cr.
- Number Of Locations: 3,000
Indian Overseas Bank (IOB) is a major Public sector bank based mostly in Madras, India, with concerning 3,400 domestic branches, as well as one,150 branches in Madras, three extension counters, and eight branches and offices overseas as of 31 Oct 2017. Indian Overseas Bank has associate degree ISO certified in-house info technology department, that had developed the software system that its branches wont to offer online banking to customers earlier. The bank has achieved 100% networking standing as well as 100 percent CBS status for its branches. so it secured tenth position in the list of Top Ten Banks in India out pacing Kotak mahindra bank and Indusind Bank.
List of Top 10 Best Banks In India 2019
- State Bank Of India
- HDFC Bank
- ICICI Bank
- Axis Bank
- Bank Of Baroda
- Punjab National Bank
- Bank Of India
- Canara Bank
- Central Bank Of India
- Indian Overseas Bank
Frequently Asked Qustion
HDFC Bank is the biggest bank in India having market capitalization of nearly 6,50,000 Crore INR.
State bank of India is the biggest bank in India having nearly $450 billion asset.
State bank of India has highest number of branches, having branch at nearly 24000 locations.