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List of Top 10 Banking Companies in India
List of Top 10 Banking Companies in India
The Indian banking space is an exciting and dynamic one. Here is a list of the top 10 banking companies in the country,going by market capitalization
HDFC Bank
Going by market capitalization, HDFC Bank is the
largest bank in India. Its market cap is pegged at
about INR 261,226.94 crore.As of end 2014, the
bank boasted of a strong network of 3,659
branches in 2,287 cities.To facilitate NRI banking,
the bank also has overseas branches in Bahrain,
Hong Kong, Abu Dhabi, Kenya and Dubai.HDFC
Bank has over 11,633 ATMs and a customer base
of over 28 million. It is also ranked 45th among
the top 50 banks of the world. Employing over
69,065 employees, HDFC Bank is one of the
strongest contenders in the private banking space.
State Bank of India
With a market capitalization of about INR
216,128.73 crore, SBI is the second most-valued
bank in India It and is perhaps the most trusted
one, being a state-owned bank. The bank has a
strong network of over 13,000 branches spread
across the nation and has about 190 foreign offices
in 36 countries. Along with HDFC Bank, SBI also
features among the top 50 global banks (going by
market capitalization). It is also one of the largest
employers in the country and provides employment
to over 220,000 personnel. SBI manages assets
worth about USD 390 billion in all. (to be
converted into INR---- otherwise inconsistent)
ICICI Bank Limited
ICICI Bank is the third largest entity in the Indian
banking space, with a market capitalization of INR
184,547.26 crore.ICICI Bank has a customer base
of over 2.5 million and boasts of an extensive
network of 4050 branches across the country. With
12,475 ATMs and assets worth USD 99 billion, the
bank is currently celebrating 60 years of existence.
ICICI was formed as a World Bank initiative in
1955.The bank is headquartered in Vadodara,
Gujarat and has an international presence in 19
countries. The bank’s employee strength was
estimated at over 72,000 last year when it
overtook HDFC Bank in terms of people employed.
Axis Bank
With a market capitalization of about INR
134,685.68 crore, Axis Bank takes its place at the
fourth position among Indian banks.Founded in
1994 as UTI Bank, Axis Bank now has a network of
2402 domestic branches and 12922 ATMs spread
across the nation.The bank also has seven
international offices including the ones in Hong
Kong, Singapore, Colombo, Dubai, Abu Dhabi, and
Shanghai.Axis Bank employs over 37,901
employees and is reported to have net assets
worth about USD 53 billion.Apart from retail
banking, Axis Bank also operates in NRI Services,
Investment banking and treasury operations and
corporate banking.
Kotak Mahindra Bank
Kotak Mahindra Bank, headed by Mr. Uday S
Kotak, and with a market capitalisation of INR
109,631.60 crore comes next. Kotak Mahindra
Bank is currently poised for a spectacular growth
due to an all-stockmerger with ING Vysya Bank.
Kotak Mahindra shall now become the fourth
largest private bank in the country in terms of the
business done.The combined banking company
will now have a network of 1,214 branches across
the country. The bank is likely to have an
employee strength of about 30,000 after the
merger. The combined market capitalisation is
estimated to be about INR 1.25 lakh crore.
IndusInd Bank
Founded in 1994, Hinduja Group owned IndusInd
Bank has a market capitalisation of about INR
50,100.41 crore. The bank employs over 15,500
employees and has a network of 638 branches and
1238 ATMs across the country. With international
offices in London and Dubai, IndusInd Bank is
known for its strong remittances business. The
bank has an exceptionally strong business base in
Mumbai, Delhi, and Chennai.
Bank of Baroda
Bank of Baroda is another large PSU banking
company in India with a market capitalization of
about INR 38601.08 crore.The bank is estimated
to have over 5193 branches and 38,737
employees. With a significant presence in about 25
countries, the Bank of Baroda balances out NRI
services with rural and agricultural finance. The
bank is one of the major banking operators in
India’s rural sectors.
Yes Bank
Yes Bank was incorporated in the year 2004 by
Mr. Rana Kapoor and Mr. Ashok Kapoor, and
currently has a market capitalisation of about INR
35,169.20 crore.With a strong network of about
over 630 branches in 375 cities, and with over
1150 ATMs spread across the country, Yes Bank is
among the fastest growing banks of India. The
bank employs about 12000 employees and has
high ambitions for the years to come.
Punjab National Bank
Founded in 1894, Punjab National bank is one of
the oldest banks in India. Unlike most Indian
banks that have their headquarters in Mumbai or
Gujarat, the Punjab National Bank has its
headquarters in Delhi and has a market
capitalization of about INR 30312.73 crore. Like
other PSU banks, the bank has a major focus on
agricultural and rural financing but also has a
widespread international presence.The bank has
8.9 crore customers, 6081 branches in India and
abroad and a network of 6940 ATMs spread across
the country.
Canara Bank
Canara Bank is another PSU that has made its
mark in the Indian banking sector with a market
capitalization of about INR 18630.10 crore.
Nationalised in 1976, the bank has a network of
about 3600 branches spread across the country.
With 7599 ATMs, the bank is among the first PSUs
in the country to emphasise on e-banking and
online services. Apart from commercial banking,
Canara Bank has also become a strong provider of
corporate banking services in India.
*Market Capitalisation data – BSE as of 10, April
2015
The banking in India started with the establishment
of the General Bank of India in 1786. Later the
Bank of Hindustan was also established. However,
both the banks are not in functional state
currently. It's the State Bank of India, which is
currently the oldest bank in India in existence,
established in 1806.
Since the beginning, due to huge market potential,
a number of banking companies have come up in
India, which include both, public sector as well as
private sector banks. However, the list of top 10
banking companies in India has mostly been
dominated by the State Bank of India (SBI).
Since the initial days, the State Bank of India has
dominated the Indian banking industry accounting
for nearly 20% of the Indian banking system's
deposit base. It also has got almost 20% of the
credit portfolio.
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