Top 10 Banks in India
List of Top 10 Banks in India 2023 – One of the most advanced banking sectors in the world is that of India. With a combined market share of more than 70%, India’s top 10 banks control the majority of the industry.
In a developing nation like India, banking is essential to the expansion of the national economy. Loans are made available by the banking industry to both commercial and agricultural businesses.
The State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank are a few of India’s biggest banks, however they are not the only ones to be mentioned. These banks all have a lengthy history and a sizable clientele.
They provide a vast array of services and goods, such as loans, savings accounts, and investment options. The Top 10 Indian Banks are listed in this article along with a brief description of each.
Top 10 Largest Banks in India 2023:
- HDFC Bank Ltd.
- State Bank of India
- ICICI Bank Ltd.
- Kotak Mahindra Bank Ltd.
- Axis Bank Ltd.
- IndusInd Bank Ltd.
- Yes Bank Ltd.
- Punjab National Bank
- Bank Of Baroda
- Bank of India
HDFC Bank Ltd:
HDFC had a market value of Rs. 9.34 trillion as of January 2023. Housing Development Finance Corporation Ltd. is based in Mumbai. According to the Forbes World’s Best Bank poll, HDFC is now the largest private sector bank in India and is also recognised as the top bank in the country. In addition to retail and wholesale banking, personal banking, home, auto, and business loans, lifestyle loans, credit cards, and debit cards are just a few of the many services and products the bank provides. The bank also takes pride in launching popular digital products like Payzapp and SmartBUY.
State Bank of India:
A government bank in India with a market value of Rs. 5.34 trillion is known as the State Bank of India (SBI). The second-ranked bank out of the top 10 in India, the largest public sector bank, and a statutory organisation for the financial services industry. Mumbai, the nation’s financial centre, is where SBI is headquartered.
The State Bank of India got the Best Transaction Bank in India award from “The Asian Banker” for the second consecutive year in 2021, placing 221st on the Fortune Global 500 list of the largest firms in the world.
It is also referred to as India’s largest bank. With over 233 global offices spread across 36 countries, SBI has a commendable international presence and a 23% market share in India.
ICICI Bank Ltd:
As of January 23, 2023, the Industrial Credit and Investment Corporation of India, better known as ICICI Bank, had a market value of Rs. 6.08 trillion. It ranks third among the leading banks in India in terms of size.
The bank has its head office in Mumbai, although its registered office is in the Gujarati city of Vadodara. The bank’s total assets as of the most recent update were Rs. 12.50 trillion. With subsidiaries located all over Canada and the United Kingdom, ICICI Bank has a commendable international presence. The bank also boasts of having branches in the following countries: China, Hong Kong, the United States, South Africa, Sri Lanka, the Dubai International Finance Centre, Qatar, Singapore, Bahrain, and Oman, along with representative offices in the United Arab Emirates, Malaysia, Indonesia, and Bangladesh.
Kotak Mahindra Bank Ltd:
As of January 2023, Kotak Mahindra Bank had a market value of Rs. 3.55 trillion. The bank was founded in 2003 and is currently ranked as the fourth-largest private sector bank in the country. The bank made Rs. 58,882 Crores in revenue last year.
Axis Bank Ltd:
On the ranking of the biggest private sector banks in India, Axis Banks comes in at position 4 with a market capitalization of Rs. 1,90,562.56 crores. The bank, which is well-known for its financial services aimed largely at large and mid-size corporations as well as SMEs and retail enterprises, recorded revenue of Rs. 68,116 crores in 2019.
Induslnd Bank Ltd:
The IndusInd Bank, widely regarded as the top new-generation private bank in India, with a market value of Rs. 936.47 billion. The bank was founded in 1994 and has its main office in Mumbai. The majority of its branches are located in the Indian metropolises of Mumbai, Delhi, and Chennai. Because it has representative branches in Dubai, Abu Dhabi, and London, it can also brag of having a global presence. In 2022, the bank recorded revenues of Rs. 38,230 Crores.
Yes Bank Ltd:
Yes Bank’s market valuation of Rs. 523.31 billion is evidence that it has established a reputation as the fastest-growing private sector bank in India. Rana Kapoor and Ashok Kapur established the bank in 2004, and it is well known for its asset management and retail banking operations. In 2022, the bank recorded revenues of Rs. 25,423 Crores.
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Punjab National Bank:
PNB, sometimes referred to as Punjab National Bank, has a market value of Rs. 626.53 billion. This top bank is a public sector organization with revenues of Rs. 88,339 Crores. The remarkable base of more than 180 million customers that this institution boasts is what distinguishes it as a top bank in the country.
With locations in Mumbai and Dubai as well as Hong Kong, PNB has a respectable international footprint. However, PNB has nine subsidiaries in Bhutan and seven in the UK. In addition, there are 122 Joint Venture Branches for the bank in Nepal.
Bank of Baroda:
With a market value of Rs. 932.40 billion, Bank of Baroda, generally known as BoB, is another public sector bank that ranks among the top 10 banks in India for 2023. The bank, which has its headquarters in Vadodra, experienced an unexpected surge in popularity in April 2019 when Dena Bank and Vijaya Bank joined forces to form the first-ever 3-way merger. The bank generated Rs. 82,859.5 crores in revenue in 2021 and claims a staggering clientele of over 132 million people.
Bank of India:
On January 23, 2023, Bank of India, generally known as BoI, recorded a market capitalization of Rs. 359.68 billion. BoI, which has its headquarters in Mumbai, is a founding member of SWIFT, the Society for Worldwide Interbank Financial Telecommunication. The bank earned Rs. 45,955 crores in revenue last year.
There are 5,108 branches and 5,551 ATMs for the bank worldwide (including 24 outside India like Botswana, France, Hong Kong, Japan, Kenya, New Zealand, Singapore, United States, Tanzania, UK, Uganda, South Africa, and Vietnam).
Important Facts about the Top 10 Banks in India:
HDFC Bank Ltd:
- Number of Branches – 6,342
- Number of ATMs – 18,130
- Number of Employees – 1.41 Lakh+
- Number of POS Terminals – 2,43,888
- Number of Debit Cards – 4 Crore
- Number of Credit Cards – 1.76 Crore
State Bank of India:
- Number of Branches – 22,219
- Number of ATMs – 62,617
- Number of Employees – 2,45,642
- Number of POS Terminals – 6.08 Lakh
ICIC Bank Ltd:
- Number of Branches – 5,275
- Number of ATMs – 15,589
- Number of Employees – 97,354
Kotak Mahindra Bank Ltd:
- Number of Branches – 4,758
- Number of ATMs – 10,990
- Number of Employees – 78,300
- Number of Cash Recyclers – 5,972
Axis Bank Ltd:
- Number of Branches – 4,050
- Number of ATMs – 11,800+
- Number of Employees – 55,000+
- Number of Cash Recyclers – 4,917
IndusInd Bank Ltd:
- Number of Branches – 2,015
- Number of ATMs – 2,886
- Number of Employees – 33,582+
Yes Bank Ltd:
- Number of Branches – 1,000+
- Number of ATMs – 1,800+
- Number of Employees – 23,800+
Punjab National Bank:
- Number of Branches – 12,248
- Number of ATMs – 13,000+
- Number of Employees – 1,03,144
Bank of Baroda:
- Number of Branches – 9,500+
- Number of ATMs – 13,000+
- Number of Employees – 79,806+
Bank of India:
- Number of Branches (in India) – 5,108
- Number of Employees – 51,459
Bottom Line:
We believe you now have a good understanding of India’s top 10 banks. For more information’s like this follow Oliveboard Website.
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Top 10 Banks in India: Frequently Asked Questions:
Ans. HDFC Bank is ranked as No. 1 bank by customers in India, As per Forbes World’s Best Bank survey.
Ans. The largest bank in India is The State Bank of India.
Ans. The second largest bank in India is HDFC Bank.
Ans. SBI is the most trusted bank in India
Sindhuja is a passionate content writer with a strong background in preparing for various state exams and defence examinations. Drawing on her own experiences as an aspirant, she brings valuable insights and expertise to her writing. With a keen understanding of exam patterns, syllabus, and effective study techniques, Sindhuja creates engaging and informative content to assist fellow aspirants in their preparation journey. Her dedication to accuracy and clarity ensures that candidates find convenience and reliability in her work. As a content writer, she aspires to empower others with the knowledge and guidance needed to excel in their respective exams and achieve their dreams.
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