For a country’s economy to sustain in a steady state, the banking system should be in a strong position. Banks in the country holds and maintains money of all people and lends money to the needful which is essential for economic growth. In fact, a country’s economy is depending only on the banks.
Here is the list of top 10 banks of India ranked based on the market capitalization. It is noted that the Reserve Bank of India which is the Central Bank is not in this list.
1 State Bank of India
SBI is India’s largest bank, one of the most valued companies, one of most trusted brands and also the one among in Fortune 500 list.
Market cap of SBI is Rs. 265,506 cr and it has total assets worth of Rs. 3,445,121 cr. It has more than 20,000 branches in India and overseas and more than 2 lank employees which makes SBI as one of the largest employers.
2 ICICI Bank
ICICI is the largest private sector bank in India. Industrial Credit and Investment Corporation of India is the full form of ICICI. It is the second largest private bank in terms of total assets and the third largest in terms of market capitalisation.
Its market cap is Rs.235,421 cr and total assets value is Rs. 11.2 Trillion. The bank has currently a network of 4867 branches with 81,548 employees.
3 HDFC Bank
HDFC stands for Housing Development Finance Corporation. It is the second largest private sector bank by total assets and largest bank in terms of market cap.
Market cap of HDFC is Rs. 575,922 cr. and its total assets values to be Rs.863,840 cr. It has 4805 branches totally and has 84,325 employees.
4 Punjab National Bank
Punjab National Bank, which hit by big loan fraud in the year 2018, is the fourth largest bank in India. Two Junior officers allegedly lend Rs. 14,356 cr to billionaire Nirav Shah who fled from the country later.
Market Cap of PNB is Rs. 24,988 cr and its total assets value is Rs. 667,390 cr. This public sector Bank has 7000 branches with 70,801 employees.
5 Bank of Baroda
BOB was founded by Maharaja Sayajirao Gaekwad in July 1908. Bank of Baroda is a pioneer in various customer-centric initiatives in the Indian Banking sector. In the year 2018, Indian government planned to merge other two banks, Vijaya Bank and Dena Bank, with Bank of Baroda.
Its Market cap is Rs. 32,156 cr and its total assets value is Rs. 75 cr. Bank of Baroda has its bank in India and also in overseas and has 5481 branches and employs 52,420 people
6 Axis Bank
Axis Bank is the third largest private sector bank in India. The bank offers financial services to ordinary citizens as well as large and mid-corporates, MSMS, Agriculture, and Retail Businesses.
Market cap of Axis Bank is Rs. 159,295 cr and it has total assets valued to be Rs. 6.91 trillion. It is served worldwide with 3,703 branches and 59,600 employees.
7 Canara Bank
Canara Bank was founded in Mangalore in 1906. After its nationalization in 1969, its growth was phenomenal.
Its value of Market cap is Rs. 20,743 cr and total assets are Rs. 620,000 cr. It has 6639 branches and has 57,905 employees.
8 Bank of India
BoI is one of the premier public sector banks which offers financial services to all. Bank of India was founded in 1906 and brought under government control in the year 1969.
Market cap of Bank of India is Rs. 18,954 cr and total assets value is Rs. 6009,913 cr. As of 2015, the bank has 45,613 employees working in 5100 branches.
9 IDBI Bank
Industrial Development Bank of India (IDBI) was founded in the year 1964 by the Government of India to provide credit and financial support to the emerging Indian industry. At present government holds 51.69% stake in IDBI bank, LIC holds 44.31% and remaining 4% held by the public.
Its market cap value is Rs. 25,672 cr and total assets value is Rs. 374,372 cr. Currently, it has 1899 branches and 27,570 employees.
10 Central Bank of India
Central Bank of India is one of the oldest and largest commercial banks in India. It is founded and headquartered in Mumbai, the financial capital of India.
Market cap of Central Bank of India is Rs. 10,656 cr and total assets value is Rs. 326,225 cr. The bank has a network of 4685 branches and 37,162 employees.