Top 10 Largest Banks in India 2020- Public & Private Banks

Top 10 Largest Banks in India 2020- Public & Private Banks

For a developing nation like India, the banking sector plays a vital role in helping the economy move forward. Not only do banks offer the required loans to agricultural as well as commercial players, but also facilitate the common man with services such as personal banking, credit, and debit facilities besides yielding interest on savings.

Given the importance of banks, it shouldn’t come as a surprise that India is home to as many as 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 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.

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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.

 

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1. 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. aka HDFC is the largest private sector bank 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 Products Interest Rates
HDFC Home Loan

8.00% Apply Now

HDFC Personal Loan

10.75% Apply Now

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 2019-

  • 60th in India 2019 by the global magazine FinanceAsia
  • India’s Best Bank by Euromoney Awards for Excellence 2019
  • Best Private Bank in India – The Banker Global Private Banking Awards 2018

2. State Bank of India

The State Bank of India, SBI, boasts a market capitalization of Rs. 2,93,218.11 crores. The largest public sector bank of India, as well as a financial services statutory body, SBI, is headquartered in the financial capital of the nation, Mumbai.

Bank Products Interest Rates
SBI Home Loan

7.90% Apply Now

SBI Personal Loan

10.50% Apply Now

In the year 2018, the State Bank of India ranked 216th in the Fortune Global 500 list of the world’s biggest corporations.

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

3. ICICI Bank Ltd

The Industrial Credit and Investment Corporation of India, popularly known as ICICI Bank has a market capitalization of Rs. 2,56,205.53 crore, as of April 2, 2019.

Bank Products Interest Rates
ICICI Home Loan

8.25% Apply Now

ICICI Personal Loan

11.25% Apply Now

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

4. Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank registered a market capitalization of Rs. 2,55,537.49 crores, as of April 2, 2019. 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.

Some of the important facts about the bank are:

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

5. Axis Bank Ltd.

With a market capitalization of Rs. 1,97,360.89 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.

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

6. IndusInd Bank Ltd.

Known to be the leading new generation private bank of India, the IndusInd Bank enjoys a market capitalization of Rs. 1,07,064.08 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+

7. 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. 64,913.53 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.

Some of the important facts about the bank are:

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

8. 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.

PNB enjoys a creditable oversees 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

9. Bank Of Baroda

Bank of Baroda also known as BoB, is yet another public sector bank which enjoys a place amongst the Best 10 Banks in India 2019, 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.    

Some of the important facts about the bank are-

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

10. 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.   

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.

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 2020?

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 10 Banks in India 2019.

✅ 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.

 

Also Read: Top 10 Commercial Banks in India

 

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