10 Biggest Indian Banks |Top 10 Banks In India | Top 10 private banks in India 2023 | 10 Largest Banks in India | Best 10 Indian Banks You Should Consider Banking With | Top 10 Indian banks
The Indian banking sector is one of the most developed in the world. The top 10 banks in India dominate the sector, with a combined market share of more than 70%. This article list the Top 10 Banks In India and provides a brief overview of each.
in this article, we discusses the Top 10 Banks In India according to a study by The Reserve Bank of India.
The list includes names of both government-owned and privately-held banks. This is an important list as these banks account for 70% of the total assets in the Indian Banking system.
Table of Contents
Largest Government bank & Private Banks in 2023
Banking plays a vital role in helping an economy grow in a developing country like India. The banking sector provides loans to agricultural as well as commercial enterprises. There are many top banks in India, but some of the most notable ones are the State Bank of India, the ICICI Bank, the HDFC Bank, and the Axis Bank. Each of these banks has a long history and a large customer base. They offer a wide range of products and services, including loans, savings accounts, and investment products.
There are many banks in India, but some of them are more popular than others. The top largest Indian banks in 2023 are listed below:
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Top 10 Indian Banks List
The list below shows the Top 10 Banks in India in terms of size for 2023 Branches, ATMs, employees, assets, revenue, and assets of banks are all factors taken into consideration:
- HDFC Bank Ltd
- State Bank of India (SBI)
- ICICI Bank Ltd
- Kotak Mahindra Bank Ltd
- Axis Bank Ltd
- IndusInd Bank Ltd
- Bank of Baroda
- Punjab National Bank
- Yes Bank
- Bank of India
1. HDFC Bank Ltd.
The Housing Development Finance Corporation (HDFC) is the largest private sector bank based on market capitalization and assets and And this bank comes first in our Top 10 Banks In India List. Market capitalization in March 2020 proves it is the largest bank in India, providing products and services such as wholesale banking, retail banking, treasury, loans, credit cards, lifestyle loans, and other variety of loans with Payzapp and SmartBUY as digital products.
The bank’s Corporate Social Responsibility under the HDFC Bank Parivartan is a successful 11-year initiative that has managed to contribute an estimate of Rupees 14.41 to the CSR industry.
Here are some details about this bank: Established in 1994 Headquarters in Mumbai More than 88000 employees 5600 branches and 13000 ATMs across 2765 cities in India
Market capitalization: Rupees. 774,352 crores.
2. State Bank of India (SBI)
State Bank of India (SBI) is the oldest and most reliable brand in India and one of the world’s biggest corporations. It is the 2nd largest bank owned by the Indian government in terms of market capitalization. The SBI offers credit cards, savings accounts, fixed deposits, personal loans, debit cards, home loans, loans against property, car loans, gold loans, mudra loans, and business loans. The multidimensional bank was the largest bank in India with one-fourth of its share in the deposits and total loan market before being overtaken in March 2020 by the HDFC Bank.
Here are some details about the SBI bank: Established in 1955 Headquarters in Mumbai (Maharashtra) More than 26350 branches across India Over 60,000 ATM across India 195 offices in 36 countries Serving more than 43 crores customers
Market Capitalization: Rupees. 418,296 crore
3. ICICI Bank Ltd.
ICICI bank is one of the most popular banks in India and also takes 3rd place in our Top 10 Banks In India list. It was established in June 1994 in Vadodara by the Industrial Credit and Investment Corporation of India offering a wide range of services including online money transfer and tracking service, current, savings account, time deposits, recurring deposits, mortgage, loans automated lockers, prepaid and debit cards, credit cards, and ICICI Pocket; a VISA powered digital wallet.
It is a part of the Big 10 Banks of India. It has maintained a big role in Indian financial infrastructure with the Entrepreneurship Development Institute (EDII) established by IDBI, IFCI, and SBI cohort companies, promoting the National Stock Exchange, establishment of CRISIL, India’s first credit rating agency with UTI amongst other significant achievements.
Here are some details about the ICICI bank: Headquarters in Mumbai (Maharashtra) More than 4870 branches across India More than 14367 ATMs across India International presence in 16 countries
Market capitalization: Rupees. 463,683 Crore
4. Kotak Mahindra Bank Ltd.
Kotak Mahindra Bank is the fourth largest bank in India, based on market capitalization. This bank was established in February 2003. It is the second-largest Indian private sector bank with services for corporate and retail customers that include personal finance, investment banking, life insurance, and wealth management.
Here are some details about Kotak Mahindra bank: Achieved 245th rank in brand finance banking in 2014. Approximately 50,000 employees across India.
Market Capitalization: Rupees. 3,49,762 Cr.
5. Axis Bank Ltd.
In terms of market capitalization, Axis bank stands at 5th position in India founded in 1993 as UTI bank, and officially changed its name to Axis Bank in 2007. It launched its all-women branch in Patna in 2014 and has Bollywood actress, Deepika Padukone as the bank’s ambassador.
The Axis Bank oversees foreign operations with 11 international office branches in Singapore, Dubai, Abu Dhabi, Hong Kong, Colombo, Shanghai, and representative offices in Dhaka, Dubai, Abu Dhabi, Sharjah, and a subsidiary in London, selling financial services to large and mid-size businesses.
Here are some details about Axis bank: The fifth-largest bank in India. Headquarters in Mumbai. About 4000 branches across different cities in India. 12,700 ATMs across different cities in India. More than 55,000 employees across India.
market capitalization: Rupees. 213,287 cr.
6. IndusInd Bank Ltd
IndusInd Bank Ltd is a private-sector Indian bank headquartered in Mumbai. It was founded in 1994 by S.P. Hinduja and his son Ashok Hinduja. The bank is the result of the merger of The IndusInd Bank Ltd and The Hinduja Bank Ltd. IndusInd Bank is the first bank to receive “in principle” approval from the Reserve Bank of India (RBI) to start a banking business.
The bank offers a range of banking products and services to its customers across the country.
Details: As of March 2023, the bank had a network of 2.5 crore customers, over 5,000 distribution points, and 2,000 branches across the country.
market capitalization: Rs 69,844.92 Cr.
7. Bank of Baroda
The Bank of Baroda, or BoB, is yet another public sector bank that enjoys a place amongst the in Top 10 Banks in India 2023 the bank has more than 153 million customers Across 18 countries. The bank was founded in 1908 by Maharaja Sayajirao Gaekwad III of Baroda State. It is headquartered in Vadodara, Gujarat. The bank offers a range of products and services to its customers including loans, deposits, cards, wealth management, and insurance.
The history of the Bank of Baroda dates back to 1908 when the bank was founded as the Bank of Baroda Limited, a small private bank by Maharaja Sayajirao Gaekwad III, the then Maharaja of Baroda State. In 1969, the Government of India nationalized the bank.
BOB Market capitalization: Rs. 52,670 crores
8. Punjab National Bank
Punjab National Bank (PNB) is an Indian multinational banking and financial services company. It is a state-owned bank and the second-largest public sector bank in India enjoys eighth position in the Top 10 Indian Banks 2023. The bank was founded in 1895 by Lala Lajpat Rai and Swadesh Bikram Singh. It is headquartered in New Delhi.
The bank has over 10,528 branches and over 1,03,000 employees and 13,506 ATMs & 12,478 Business Correspondents. As of March 2023
PNB Market capitalization: Rs. 39,914 crores
9. Yes Bank
Yes Bank is an Indian private sector bank, headquartered in Mumbai, Maharashtra. It was founded in 2004 by Rana Kapoor and Ashok Vaswani. As of March 2023, the bank has a network of 1,122 branches and 1,220 ATMs in India.
The bank was promoted by the Yes Group, which is owned by the Rana Kapoor family. In November 2004, Yes Bank commenced its operations with two branches in Mumbai. The bank completed an initial public offering in January 2006 and raised Rs 1,542 crore
market capitalization: Rs. 31,945. crores
10. Bank of India
Bank of India is an Indian multinational banking and financial services company, with its headquarters in Mumbai, Maharashtra. It is the largest bank in India by assets and market capitalization. As of March 2023, the bank has a network of more than 5000 branches and 51,459 employees across India.
The Bank of India was founded on 7th September 1906 by a group of eminent businessmen from Mumbai. The bank was promoted by the leading industrialists of the time such as Sir Sorabji Pochkhanawala, Dadabhai Naoroji, Dwarkadas Marfatia, Pherozeshah Mehta, and Premchand Roychand.
Market capitalization: Rs. 19,984.37. crores
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Top Indian Banks FAQs
What is the largest bank in India?
HDFC Bank is India’s number one bank in terms of assets and the value, market capitalization of the bank.
Which bank is safest in India?
The RBI has declared these three banks (SBI, HDFC, ICICI) too large to fail, which makes them the safest banks in India.
Which bank works best in India?
HDFC is the best working bank in India in terms of value and services offered by them
What is India’s largest public sector bank?
State Bank Of India (SBI) is currently the largest public sector bank in the country and its leading lender.
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2 thoughts on “Top 10 Banks In India Biggest Commercial Banks List 2023”
Really helpful details about leading banks and their offerings. Thanks