10 Largest Bank In India

10 Largest Bank In India

India has a strong banking and financial sector and it is one of the most influential industry in India’s economy. A lot of major reforms have happened post independence and especially the reforms in 1991. A lot has changed since then and we are now moving towards complete digitization of transactions. Banks have been instrumental in making this progress.

Below is the list of India’s 10 largest banks for 2017:

1. State Bank Of India

Type: Public
Industry: Banking, Financial services
Founded: 2nd June 1806, Bank of Calcutta; 27th January 1921; Imperial Bank of India, 1st July 1955; State Bank of India, 2nd June 1956, nationalisation
Headquarters: Mumbai, Maharashtra, India
Area served: Worldwide
Key people: Arundhati Bhattacharya (Chairperson)
Products: Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards
Revenue Increase: ₹2.85 trillion (US$42 billion) (2016)
Profit Increase: ₹127 billion (US$1.9 billion) (2016)
Total assets: Decrease ₹30.72 trillion (US$460 billion) (2016)
Owner: Government of India
Number of employees: 293,469 (2016)
Website: sbi.co.in

2. HDFC Bank

Type: Public company
Industry: Financial services
Founded: 1994
Headquarters: Mumbai India
Area served: India
Products: Banking
Asset: USD 66.7 billion
Number of employees: 87,555 (31st March 2016)
Website: www.hdfcbank.com

3. ICICI Bank

Type: Private Sector Bank
Industry: Banking, Financial services
Founded: 1994
Headquarters: Mumbai, Maharashtra, India
Area served: Worldwide
Key people: Mr M. K. Sharma (Chairman), Mrs Chanda Kochhar (MD & CEO)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management, personal loans, payment solutions.
Revenue: US$10.3 billion (2016)
Operating income : US$3.6 billion (2016)
Profit: US$1.5 billion (2016)
Total assets: US$109.0 billion (2016)
Total equity: US$13.5 billion (2016)
Number of employees: 74,096 (2016)
Website: www.icicibank.com

4. Punjab National Bank

Type: Public
Industry: Banking, Financial services
Founded: 19 May 1894 – 122 years ago
Founder: people: Lala Lajpat Rai
Headquarters: New Delhi
Key people: Usha Ananthasubramanian (MD & CEO)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue Increase: ₹47,400 crore (US$7.0 billion)(2013)
Net income: Decrease ₹4,748 crore (US$710 million) (2013)
Total assets: ₹6,435 billion (US$96 billion) (2015)
Owner: Government of India
Number of employees: 62,392 (March 2013)
Website: www.pnbindia.in

5. Axis Bank

Type: Private
Industry: Banking, Financial services
Founded: 1993(as UTI Bank)
Headquarters: Ahmedabad, Gujarat, India
Key people: Shikha Sharma (MD & CEO) Sanjiv Misra (Chairman)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue: ₹414.0925 billion (US$6.2 billion) (2016)
Net income: ₹83.5759 billion (US$1.2 billion) (2016)
Total assets: ₹5.25468 trillion (US$78 billion) (2016)
Total equity: ₹4.7657 billion (US$71 million)
Number of employees: 56,084 (March 2016)
Website: axisbank.com

6. Canara Bank

Type: Public
Industry: Banking, Financial services
Founded: Canara Bank Hindu Permanent Fund (1906; 111 years ago at Mangalore, India), Canara Bank Ltd (1910), Canara Bank (1969).
Headquarters: Bangalore, Karnataka, India
Key people: Shri T. N. Manoharan (Chairman), Shri Rakesh Sharma (MD & CEO)
Products: Investment Banking, Consumer Banking, Commercial Banking, Retail Banking, Private Banking, Asset Management, Pensions, Mortgages, Credit Cards
Revenue: ₹339 billion (US$5.0 billion) (2012)
Net income: ₹33.41 billion (US$500 million) (2012)
Total assets: ₹4.72 trillion (US$70 billion) (2015)
Owner: Government of India
Number of employees: 53,506 (2016)
Website: Canara Bank

7. Bank of Baroda

Type: Public
Industry: Banking, Financial services
Founded: 20 July 1908 – 108 years ago
Founder: Maharaja H. H. Sir Sayajirao Gaekwad III[1] Headquarters:Vadodara, India
Area served: Worldwide
Key people: P. S. Jayakumar(CEO & MD), Ravi Venkatesan (Chairman), Bharat Dangar (Director)[2] Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Total assets: ₹6.714 trillion (US$100 billion) (2015)
Owner: Government of India
Website: www.bankofbaroda.com

8. Union Bank

Type: Public company
Industry: Financial services
Founded: 11 November 1919 – 97 years ago
Headquarters: Mumbai, India
Key people: Arun Tiwari (Chairman & MD)
Revenue: ₹211.44 billion (US$3.1 billion) (2012)
Net income: ₹17.87 billion (US$270 million) (2012)
Owner: Government of India
Number of employees: 36377(2015)
Website: www.unionbankofindia.co.in

9. IDBI Bank

Type: Government-owned bank
Industry: Banking, Financial services
Predecessor: IDBI
Founded: July 1964; 52 years ago
Headquarters: Mumbai India
Key people: Mr. Kishor Kharat (MD & CEO)
Products: consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, Agriculture Loan
Revenue Increase: ₹31,453.16 crore (US$4.7 billion) (2016)
Operating income: Increase ₹5,370.07 crore (US$800 million) (2016)
Net income: Decrease ₹3,664.80 crore (US$540 million) (2016)
Total assets: Increase ₹374,372.13 crore (US$56 billion) (2016)
Number of employees: 16,555 (March 2015)
Website: www.idbi.com

10. Bank of India

Type: Public
Industry: Financial services
Founded: 7 September 1906; 110 years ago
Headquarters: Mumbai, Maharashtra, India
Key people: Shri Melwyn Rego (MD & CEO)
Products: Commercial Banking, Retail Banking, Private Banking, Asset Management, Mortgages, Credit Cards
Revenue: ₹243,935.0 million (US$3.6 billion)
Operating income: ₹53,842.3 million (US$800 million)
Net income: ₹24,887.1 million (US$370 million)
Total assets: ₹6,469 billion (US$96 billion) (2015)
Website: www.bankofindia.com