Indian Banks by Market Capitalization: The banking sector in India has witnessed significant growth and transformation in recent years. After all, banks are the backbone of the country. Banks in India continue to lead the industry with robust financial performance, innovative services, and a strong customer base. They play an important role in the country’s economic development, offering a wide range of products and services, from traditional banking to cutting-edge digital solutions. Today, we bring you a list of the top 10 banks in India according to Market Capitalisation. In 2024, HDFC Bank ranks as the best Indian bank in the world. Let’s check all the top banks of India-
- HDFC Bank
- ICICI Bank
- SBI
- Kotak Mahindra
- Axis Bank
- Punjab National Bank
- Bank of Baroda
- Indian Overseas Bank
- IndusInd Bank
- Union Bank
Top 10 Indian Banks by Market Capitalization in 2024:-
1. HDFC Bank:
HDFC Bank is the largest bank in India and the fourth largest bank in the world according to market capitalization. It is a private bank and holds a good position in the financial industry. Recently, in 2023, HDFC Bank merged with HDFC Ltd, for better services.
- Headquarters: Mumbai, Maharashtra
- Full form: Housing Development Finance Corporation.
- Tagline: We Understand Your World
- Founded: August, 1994
- Type: Private
- Chairman: Atanu Chakraborty
- MD & CEO: Sashidhar Jagdishan
- Market Capitalization: ₹11.16 trillion
- Branches: 8,000+
- ATMs: 19,000+
- Employees: 1,77,000+
- Key Services: Retail Banking, Wholesale Banking, Treasury, Loans
- Key Achievements: Leading private sector bank, extensive digital banking services, high customer satisfaction
2. ICICI Bank:
ICICI Bank holds the second position among the best Banks in India. It is renowned for its customer-centric approach and extensive digital services. It serves millions of Indian and foreign customers.
- Headquarters: Mumbai, Maharashtra
- Full form: Industrial Credit and Investment Corporation of India
- Tagline: Hum hai na, Khayal Apka
- Founded: 1994
- Type: Private
- Chairman: Girish Chandra Chaturvedi
- MD & CEO: Sandeep Bakhshi
- Market Capitalization: ₹7.70 trillion
- Branches: 5,200+
- ATMs: 14,000+
- Key Services: Retail Banking, Corporate Banking, Insurance, Loans
- Key Achievements: Strong digital transformation, wide range of financial products, significant international presence
3. State Bank of India (SBI):
State Bank of India (SBI) is the largest public sector bank, which has a vast network and significant rural presence. It holds a 23 per cent market share as well as a strong presence in foreign countries. Recently, SBI overtook Reliance Industries as India’s most profitable company.
- Headquarters: Mumbai, Maharashtra
- Tagline: Pure Banking, Nothing Else
- Founded: 1955
- Type: Public
- Chairman: Dinesh Kumar Khara
- Managing Director: Vinay M Tonse
- Market Capitalization: ₹6.75 trillion
- Branches: 22,000+ in India, 229+ in international
- ATMs: 52,000+
- Key Services: Retail Banking, Corporate Banking, Treasury, Loans
- Key Achievements: Largest public sector bank in India, extensive branch and ATM network, major player in rural banking
4. Kotak Mahindra Bank:
Kotak Mahindra Bank is a rapidly growing bank in India. It has a strong emphasis on digital banking and customer service.
- Headquarters: Mumbai, Maharashtra
- Tagline: Let’s Make Money Simple, Ab Kona Kona Kotak
- Founded: 2003
- Type: Private
- MD & CEO: Ashok Vaswani
- Market Capitalization: ₹3.56 trillion
- Branches: 1,700+
- ATMs: 2,900+
- Key Services: Retail Banking, Corporate Banking, Wealth Management
- Key Achievements: Rapid growth, strong focus on customer service, significant expansion in digital banking
5. Axis Bank:
Axis Bank is the largest private sector bank. It provides comprehensive financial services with a robust digital infrastructure.
- Headquarters: Mumbai, Maharashtra
- Tagline: Badhti ka Naam Zindagi
- Founded: 3 December 1993
- Type: Private
- MD & CEO: Amitabh Chaudhry
- Market Capitalization: ₹3.24 trillion
- Branches: 4,900+
- ATMs: 15,000+
- Key Services: Retail Banking, Corporate Banking, Treasury, Loans
- Key Achievements: Leading private sector bank, comprehensive financial services, robust digital banking infrastructure
6. Punjab National Bank:
Punjab National Bank is a major public sector bank with a significant rural and semi-urban footprint. It has 180 million customers.
- Headquarters: New Delhi, Delhi
- Tagline: Name You Can Bank Upon
- Founded: April 12, 1895
- Type: Public
- MD & CEO: Atul Kumar Goel
- Market Capitalization: ₹1.38 trillion
- Branches: 10,000+
- ATMs: 13,000+
- Key Services: Retail Banking, Corporate Banking, Agriculture Loans
- Key Achievements: Major public sector bank, significant rural presence, diverse financial products
7. Bank of Baroda:
Bank of Baroda is the first bank merger with Dena Bank and Vijaya Bank. It has a strong international presence with a diverse range of services.
- Headquarters: Vadodara, Gujarat
- Tagline: India’s International Bank
- Founded on: July 20, 1908
- Type: Public
- CEO: Debadatta Chand
- Market Capitalization: ₹1.37 trillion
- Branches: 9,500+
- ATMs: 13,400+
- Key Services: Retail Banking, Corporate Banking, Treasury, Loans
- Key Achievements: Strong international presence, diverse range of banking services, extensive rural and urban branch network
8. Indian Overseas Bank
Indian Overseas Bank is focused on international banking, foreign exchange business and a significant presence in southern India.
- Headquarters: Chennai, Tamil Nadu
- Indian Overseas Bank
- Founded on: 10 February 1937
- Type: Public
- CEO:Ajay Kumar Srivastava
- Market Capitalization: ₹1.21 trillion
- Branches: 3,200+
- ATMs: 3,000+
- Key Services: Retail Banking, Corporate Banking, Agriculture Loans
- Key Achievements: Focus on international banking, significant presence in southern India, strong NRI banking services
9. IndusInd Bank
IndusInd Bank is a prominent private bank in India. It is known for its innovative digital banking solutions and urban presence.
- Headquarters: Mumbai, Maharashtra
- Tagline: We Care Dil Se, We Make You Feel Richer
- Founded: 1994
- Type: Private
- MD & CEO: Sumant Kathpalia
- Market Capitalization: ₹1.20 trillion
- Branches: 2,000+
- ATMs: 2,500+
- Key Services: Retail Banking, Corporate Banking, Wealth Management
- Key Achievements: Strong focus on digital banking, innovative financial products, a significant presence in urban areas
10. Union Bank of India
Union Bank of India is a bank which was inaugurated with Magatama Gandhi. Extensive network with a strong focus on financial inclusion.
- Headquarters: Mumbai, Maharashtra
- Tagline: Good People to Bank with
- Founded: 11 November 1919
- Type: Public
- MD & CEO: A. Manimekhalai
- Market Capitalization: ₹1.19 trillion
- Branches: 9,500+
- ATMs: 12,000+
- Key Services: Retail Banking, Corporate Banking, Agriculture Loans
- Key Achievements: Major public sector bank, extensive branch and ATM network, strong focus on financial inclusion
FAQs:
- Which is the largest bank in India by market capitalization in 2024?
- HDFC Bank is the largest bank in India by market capitalization in 2024.
- What are the key services offered by HDFC Bank?
- HDFC Bank offers retail banking, wholesale banking, treasury services, and various types of loans.
- Who is the current CEO of ICICI Bank?
- The current CEO of ICICI Bank is Sandeep Bakhshi.
- What is the tagline of State Bank of India (SBI)?
- The tagline of SBI is “Pure Banking, Nothing Else.”
- Which bank has the highest number of branches in India?
- State Bank of India (SBI) has the highest number of branches in India, with over 22,000 branches.
- What is Kotak Mahindra Bank known for?
- Kotak Mahindra Bank is known for its strong emphasis on digital banking and excellent customer service.
- What is the market capitalization of Axis Bank in 2024?
- The market capitalization of Axis Bank in 2024 is ₹3.24 trillion.
- Who founded Punjab National Bank and when?
- Punjab National Bank was founded by Lala Lajpat Rai on April 12, 1895.
- Which bank has a significant presence in southern India and focuses on international banking?
- Indian Overseas Bank has a significant presence in southern India and focuses on international banking.
- What distinguishes IndusInd Bank in the banking sector?
- IndusInd Bank is distinguished by its innovative digital banking solutions and strong urban presence.