Top 10 Banks in India

Ever since the emergence of banking in India in the last decades of the 18th century, the sector witnessed a considerable growth irrespective of economic volatility and unstable political premise. Banking sector of India still maintains its reputation as one of the most persistently lucrative sector that runs on regular government intervention and well-conceived economic policies. Reserve Bank of India, considered the supervisor of all the commercial banks in India, is the main regulator and these financial institutions have to adhere to its governance. India has about 88 commercial banks including 31 private banks, 27 public sector banks and 38 foreign banks. The country has an aggregate of 53,000 bank branches and 17,000 ATMs. Public sector banks dominate the segment with 75%of the total assets of the industry held by them. On this page you will find the

List of Top 50 Banks In India, and also the list of Top 10 Global Banks. Following are the names of the best banks in India.

State Bank of India (www.sbi.co.in)

SBI is the largest and best performing commercial bank in India, in terms of assets and annual revenue figures. With over 21,000 branches all over the world, this financial company is also among the most trusted banks. SBI is a Government of India managed financial institution, founded in 1806. 

ICICI Bank (www.icicibank.com)

Founded in 1955, ICICI has made a name for itself in providing diverse financial services including corporate banking, wealth management, mortgage loans and insurance. It is the 2nd largest bank in the country in terms of assets. This Indian financial company has branches and subsidiaries in 19 countries. 

Punjab National Bank (www.pnbindia.com)

Headquartered in New Delhi, PNB is best known for being the first bank in India to have started with Indian money only and to be still operating. With an annual revenue of Rs. 36,428 Crores (for financial year 2012), it has around 5000 branches across India and more than 37 million customers. 

Bank of Baroda (www.bankofbaroda.com)

Bank of Baroda is an India public sector bank with its operations spanning many countries around the world including India. Established in 1908 by the Maharaja of Baroda, it made an annual profit of Rs. 5006 Crores in the financial year 2012, which is the highest among all PSU banks. 

Canara Bank (www.canarabank.com)

Founded in 1977, HDFC is a financial services giant in India. Headquartered in Mumbai, this mortgage company has over 300 offices in the country and international offices in London, Dubai and Singapore. Its annual revenue for 2012 was 3.44 billion USD. 

HDFC Bank (www.hdfcbank.com)

HDFC is the largest bank in India, in terms of market capitalization (for 2012). Founded in 1994, it has more than 10,000 ATMs around India. Its services include retail banking, treasury, working capital finance and wholesale banking. The bank has its headquarters in Mumbai. 

Bank of India (www.bankofindia.com)

With over 4000 branches in India, and other countries like Nigeria, Japan, UK, US and New Zealand, BoI is a Government of India owned commercial financial institution. It was founded in 1906 and provides services like private banking, mortgage loans, commercial banking and asset management. 

IDBI Bank (www.idbi.com)

Established with the view to finance and promote industrial development in India in 1964, IDBI today is among the world’s largest development banks. It is owned by the Government of India and has banking products like insurance, investment banking, private equity, wealth management and consumer banking. 

Axis Bank (www.axisbank.com)

Winner of the Best Private Sector Bank Award, for 2011, by both NDTV Profit and Outlook Money, Axis Bank is a sought after name in the banking industry. It was founded as UTI Bank in 1994. It is well known for having an ATM at one of the highest ATM sites in the world, at Thegu in Sikkim, which is at an elevation of 13,200 feet. 

Union Bank of India (www.unionbankofindia.co.in)

UBI is one of the best public sector banks not only in India, but also the world. It has won accolades for its use of business intelligence and mobile technology, and financial inclusion initiatives for 2012. The bank has a network of more than 4000 ATMs in India and holds assets worth 13.45 billion USD. 

Top 10 Banks in India