Top 10 Largest Banks in India
Top 10 Largest Banks in India: In the dynamic landscape of India’s banking sector, pivotal to the nation’s economic growth, we delve into the top players that have been instrumental in steering this progress. This article unveils the “Top 10 Largest Banks in India” based on various parameters such as branches, ATMs, employees, assets, and revenues.
List of Top 10 Largest Banks in India
HDFC Bank Ltd. – Pinnacle of Private Sector Banking:
Leading the pack with a market capitalization of Rs. 9.34 trillion as of January 2023, HDFC Bank stands as the largest private sector bank in India. Headquartered in Mumbai, the bank has earned the prestigious title of the Number 1 Bank in India according to Forbes World’s Best Bank survey. Offering a diverse range of products and services, including Retail and Wholesale Banking, Personal Banking, and innovative digital products like Payzapp and SmartBUY, HDFC Bank has set new benchmarks in the banking industry.
Key Facts:
- Number of Branches: 6,342
- Number of ATMs: 18,130
- Employees: 1.41 Lakh+
- Recognitions in 2022-23: Multiple awards, including Best Large Bank by Fortune India.
State Bank of India (SBI) – Government Banking Powerhouse:
As the largest public sector bank in India with a market capitalization of Rs. 5.34 trillion, SBI holds a significant position in the financial landscape. Headquartered in Mumbai, SBI boasts a massive market share of 23% in India and a substantial international presence with over 233 foreign offices across 36 countries.
Key Facts:
- Number of Branches: 22,219
- Number of ATMs: 62,617
- Employees: 2,45,642
- Recognitions: Fortune Global 500 list, Best Transaction Bank in India by The Asian Banker.
ICICI Bank Ltd. – A Global Banking Force:
With a market capitalization of Rs. 6.08 trillion, ICICI Bank ranks as the third-largest among India’s top banks. Headquartered in Mumbai, the bank has a robust overseas presence, with subsidiaries in Canada and the United Kingdom, along with branches in various countries.
Key Facts:
- Number of Branches: 5,275
- Number of ATMs: 15,589
- Employees: 97,354
Kotak Mahindra Bank Ltd. – Emerging Power in Private Banking:
Established in 2003, Kotak Mahindra Bank has rapidly ascended to become the fourth-largest private sector bank in India with a market capitalization of Rs. 3.55 trillion. The bank generated a revenue of Rs. 58,882 Crores in the previous year.
Key Facts:
- Number of Branches: 4,758
- Number of ATMs: 10,990
- Employees: 78,300
Axis Bank Ltd. – Focused Financial Services:
With a market capitalization of Rs. 1,90,562.56 crores, Axis Bank secures its place as the fourth-largest private sector bank. Renowned for its financial services tailored for corporates, SMEs, and retail businesses, Axis Bank recorded a revenue of Rs. 68,116 crores in 2019.
Key Facts:
- Number of Branches: 4,050
- Number of ATMs: 11,800+
- Employees: 55,000+
IndusInd Bank Ltd. – New Generation Private Banking Leader:
As the leading new-generation private bank in India, IndusInd Bank commands a market capitalization of Rs. 936.47 billion. Headquartered in Mumbai, the bank has a strong presence in metro cities and international branches in Dubai, Abu Dhabi, and London.
Key Facts:
- Number of Branches: 2,015
- Number of ATMs: 2,886
- Employees: 33,582+
Yes Bank Ltd. – Fastest Growing Private Sector Bank:
Earning the reputation of the fastest-growing private sector bank, Yes Bank boasts a market capitalization of Rs. 523.31 billion. Founded in 2004, the bank focuses on asset management and retail banking functions.
Key Facts:
- Number of Branches: 1,000+
- Number of ATMs: 1,800+
- Employees: 23,800+
Punjab National Bank – A Public Sector Powerhouse:
Punjab National Bank, with a market capitalization of Rs. 626.53 billion, stands tall as a leading public sector bank. With a customer base exceeding 180 million, PNB has a commendable overseas presence and numerous subsidiaries.
Key Facts:
- Number of Branches: 12,248
- Number of ATMs: 13,000+
- Employees: 1,03,144
Bank of Baroda – Merger Marvel:
Bank of Baroda, with a market capitalization of Rs. 932.40 billion, gained prominence for its three-way merger with Dena Bank and Vijaya Bank in 2019. The bank, headquartered in Vadodara, boasts a substantial customer base.
Key Facts:
- Number of Branches: 9,500+
- Number of ATMs: 13,000+
- Employees: 79,806+
Bank of India – SWIFT Pioneer:
Bank of India, with a market capitalization of Rs. 359.68 billion, is a SWIFT founding member. Headquartered in Mumbai, the bank has a widespread international presence with branches and ATMs across the globe.
Key Facts:
- Number of Branches (in India): 5,108
- Employees: 51,459
Conclusion:
This comprehensive overview provides a detailed insight into the Top 10 Largest Banks in India. From market capitalization to international presence, each bank contributes uniquely to the nation’s financial landscape, playing a crucial role in India’s economic journey.
…………………By ZNT News