Top 10 Largest Banks in India 2021- Government bank & Private Banks

12 Jan 2021 // 41 min read // Personal Loans
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For a developing nation like India, the banking sector plays a vital role in helping the economy move forward. Banks offer loans to agricultural as well as commercial players. Do you know about Top 10 best banks in India or top banks in India as per RBI. 27 Public Sector Banks, of which 21 are Nationalised Banks and 6 belong to the State Bank Group. In addition, 21 Private Sector Banks also serve the nation, complete with 45 Foreign Private Sector Banks which support the Indian banking system. The GOI has announced a mega merger of 27 public sector banks into 12 robust PSU banks. The merger is expected to come into force by the end of this financial year.

Today we are taking a quick look at the Top 10 banks in India with respect to Market Capitalisation, while also exploring some related aspects.

Table of Contents: Top 10 Largest Banks in India 2021

Top 10 Banks in India

Below is the list of top 10 largest banks in India in 2021.

The list is based on the number of branches, ATMs, employees, assets and revenues of the banks.

HDFC Bank Ltd.

As of April 2019, HDFC enjoys a market capitalization of Rs. 6,25,666.08 crores. Headquartered in Mumbai, Housing Development Finance Corporation Ltd. HDFC is the largest private sector bank in India & also No. 1 Bank in India according to the bank ranking in India. The bank offers a wide variety of products and services including but not limited to Retail and Wholesale Banking, Personal Banking, Home, Auto, and Business Loans, Lifestyle Loans, Credit and Debit Cards. The bank also boasts of rolling out leading digital products such as Payzapp and SmartBUY.

Bank ProductsInterest Rates
HDFC Home Loan6.75%
HDFC Personal Loan10.50%

Some of the important facts about the bank are:

  • Number of Branches – 5,103
  • Number of ATMs – 13,160
  • Number of Employees – 1,00,000+
  • Number of POS Terminals – 4.3 Lakhs
  • Number of Debit Cards – 23.5 Crore+
  • Number of Credit Cards – 85.4 Lakhs

HDFC received the following recognitions in the year 2020

  • ET Innovation Awards 2020
  • 2020 BrandZ™ Top 75 Most Valuable Brand in India.
  • Euromoney Awards for Excellence in 2020.
  • Asiamoney Best Bank Awards 2020.

State Bank of India

The State Bank of India (SBI) is a government bank in India that boasts a market capitalization of Rs. 2,93,218.11 crores. The largest public sector bank of India & 2nd in the list of 10 best banks in India, as well as a financial services statutory body, SBI, is headquartered in the financial capital of the nation, Mumbai.

Bank ProductsInterest Rates
SBI Home Loan6.75%
SBI Personal Loan9.60%

In the year 2021, the State Bank of India ranked 221st in the Fortune Global 500 list of the world’s biggest corporations. & also won Best Transaction Bank in India by “The Asian Banker” for the second time in a row, it is also called the biggest bank in India

SBI enjoys a market share of 23% in India and has a commendable presence in the overseas arena with over 195 foreign offices across 36 countries.

Some of the important facts about the bank are:

  • Number of Branches – 24,000+
  • Number of ATMs – 59,000+
  • Number of Employees – 2,57,000+
  • Number of POS Terminals – 6.08 Lakh

 

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ICICI Bank Ltd.

The Industrial Credit and Investment Corporation of India, popularly known as ICICI Bank has a market capitalization of Rs. 3,59,977.03 crore, as of 14 Dec 2021. It is the 3rd largest among the top banks in India.

Bank ProductsInterest Rates
ICICI Home Loan6.75%
ICICI Personal Loan10.50%

Headquartered in Mumbai, the registered office of the bank is in Vadodara of Gujarat. As on June 30, 2019, the consolidated assets of the bank clocked at Rs. 12.50 trillion.

ICICI Bank enjoys a commendable overseas presence with subsidiaries across Canada and the United Kingdom. The bank also boasts of branches in China, Hong Kong, United States of America, South Africa, Sri Lanka, Dubai International Finance Centre, Qatar, Singapore, Bahrain, and Oman, complete with representative offices in UAE, Malaysia, Indonesia, and Bangladesh.

Some of the important facts about the bank are:

  • Number of Branches – 4882
  • Number of ATMs – 15,101
  • Number of Employees – 84,922

Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank registered a market capitalization of Rs. 3,80,117.77 crores, as of Dec 14, 2021. Established in the year 2003, the bank now enjoys the title of being the 3rd largest private sector bank in the nation. In the year 2019, the bank generated a revenue of Rs. 28,547.24 crores.

Bank ProductsInterest Rates
Kotak Home Loan6.65%
Kotak Personal Loan10.45%

Some of the important facts about the bank are:

  • Number of Branches -1,390+
  • Number of ATMs -2,100+
  • Number of Employees – 33,000+

Axis Bank Ltd.

With a market capitalization of Rs. 1,90,562.56 crores, Axis Banks fares 4th on the list of the largest private sector banks in India. Known for its financial services primarily directed at large and mid-size corporates, along with SMEs and retail businesses, the bank clocked a revenue of Rs. 68,116 crores in the year 2019.

Bank ProductsInterest Rates
Axis Home Loan6.90%
Axis Personal Loan10.49%

Some of the important facts about the bank are:

  • Number of Branches –4,050
  • Number of ATMs – 11,800+
  • Number of Employees – 55,000+
  • Number of Cash Recyclers – 4,917

IndusInd Bank Ltd.

Known to be the leading new generation private bank of India, the IndusInd Bank enjoys a market capitalization of Rs. 70,631.88 crores. Established back in the year 1994, the bank is headquartered in Mumbai, with most of its branches concentrated in the Indian Metro Cities of Mumbai, Delhi, and Chennai. It also boasts of overseas presence owing to its representative branches in Dubai, Abu Dhabi, and London.  The bank clocked a revenue of Rs. 18,577 crores in the year 2019.

Some of the important facts about the bank are:

  • Number of Branches – 1,558
  • Number of ATMs – 2,453
  • Number of Employees – 25,000+
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Yes Bank Ltd.

Yes Bank has earned the reputation of being the fastest growing private sector bank in India, and its market capitalization of Rs. 46,226.29 crores stand testimony to this fact. Known for its asset management and retail banking functions, the bank was founded in the year 2004 by Rana Kapoor and Ashok Kapur. The bank clocked a revenue of Rs. 25,419 crores in the year 2019.

Bank ProductsInterest Rates
Yes Bank Home Loan8.95%
Yes Bank Personal Loan10.75%

Some of the important facts about the bank are:

  • Number of Branches – 1,122
  • Number of ATMs – 1,220
  • Number of Employees – 18,000+

Punjab National Bank

Punjab National Bank, popularly known as PNB, has a market capitalization of Rs. 37,411.52 crores. A public sector undertaking, this leading bank has revenue of Rs. 58,687 crores. What makes this establishment a leading bank of the nation is its commendable base of over 8 crores customers.

Bank ProductsInterest Rates
PNB Home Loan6.80%
PNB Personal Loan8.45%

PNB enjoys a creditable overseas presence with branches in Dubai and Hong Kong, complete with Offshore Banking Unit in Mumbai. Then again, PNB has 7 Subsidiaries in the UK, and 7 in Bhutan. Besides, the bank has 8 Associate Branches in Kazakhstan and 86 Joint Venture Branches in Nepal.

Some of the important facts about the bank are:

  • Number of Branches – 7,000+
  • Number of ATMs – 10,680+
  • Number of Employees – 70,800

Bank Of Baroda

Bank of Baroda also known as BoB, is yet another public sector bank which enjoys a place amongst the Top 10 Banks in India 2021 with a high market capitalization of Rs. 35,251.50 crores. Headquartered in Vadodra, the bank gained unprecedented popularity in April 2019, for witnessing the first ever 3-way merger, with Dena Bank and Vijaya Bank. Known for the least Non-Performing Assets amounting to just 111.5%, the bank boasts of a spectacular base of over 12 crores customers.

Bank ProductsInterest Rates
BoB Home Loan6.75%
BoB Personal Loan10%

Some of the important facts about the bank are-

  • Number of Branches -9,544
  • Number of ATMs -13,400
  • Number of Employees – 85,000+

Bank of India

Bank of India, also known as BoI clocked a market capitalization of Rs. 28,464.06 crores, on April 2, 2019. Headquartered in Mumbai, BoI is a founding member of the Society for Worldwide Interbank Financial Telecommunication, also known as SWIFT. The bank clocked revenue of Rs. 46,268 crores this year.

The bank enjoys as many as 56 offices in overseas locations, across Botswana, France, Hong Kong, Japan, Kenya, New Zealand, Singapore, United States, Tanzania, UK, Uganda, South Africa, and Vietnam.

Bank ProductsInterest Rates
BoI Home Loan6.85%
BoI Personal Loan10.35%

Some of the important facts about the bank are:

  • Number of Branches (in India)- 5,100+
  • Number of Employees – 48,000+

We hope that you now have a fair idea regarding the leading banks of India, on the basis of their recent market capitalization value.

Largest Banks in India FAQs

Which is the No. 1 bank in India?

As per Forbes World’s Best Bank survey, HDFC Bank is ranked No. 1 bank by customers in India.

Which is the largest bank in India 2021?

The State Bank of India (SBI) is the largest bank in India and also one of the biggest corporations in the world. State Bank of India is one of the largest employers and the most trusted bank in India. At present, SBI has 159 computerised banks and 112743 listed branches.

Which is the second largest bank in India?

Bank of Baroda is the second largest bank in India that clocked the highest market capitalization worth Rs. 35,251.50 crores as on April 2019. With 9, 544 branches and 13,400 ATMs across India, the bank enjoys its fame by being the Best Bank in India.

Which bank offers the safest banking in India?

Both public and private sector banks offer safe banking activities throughout India. However, the public sector banks, which are nationalized banks, are safest in terms of banking in India. There are 14 nationalized banks in India, including the State Bank of India, Punjab National Bank, Bank of Baroda, and Bank of India.

Which is India’s largest private bank?

ICICI Bank is the largest private bank in India. The bank clocked the consolidated assets worth Rs. 12.50 trillion as on June 30, 2019.

Which bank is bigger, ICICI or HDFC?

HDFC Bank is bigger than ICICI Bank as it enjoys the market capitalization of Rs. 6,25,666.08 crores against the market capitalisation of ICICI worth Rs. 2,56,205.53 crores as on April 2019.

Moreover, HDFC Bank has 5,103 branches with 13,160 ATMs across India as compared to ICICI Bank that has 4882 branches with 15,101 ATMs.

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