Indian banking sector performs a very important function in the Indian economy by rendering financial services to the public, firms and the government. In this article, the top 10 banks of India are listed according to their size based on their total assets.
- State Bank of India (SBI): With total assets of more than INR 33 trillion (approximately $450 billion), the State Bank of India is the biggest bank in the country. It was established in 1921 and is based in Mumbai. SBI provides all sorts of banking and financial services such as savings and current accounts, loans, credit cards, and investment products.
- HDFC Bank: HDFC Bank is the second biggest bank in India in terms of assets, which are estimated at INR 28 trillion (approximately $380 billion). It was established in 1994 and is headquartered in Mumbai. The bank provides savings and current accounts, loans, credit cards, and investment products.
- ICICI Bank: ICICI Bank is the third biggest bank in India in terms of assets and its assets stand at INR 25 trillion (approximately $340 billion). It was established in 1994 and is headquartered in Mumbai. The bank provides savings and current accounts, loans, credit cards, and investment products.
- Punhab National Bank (PNB): Punjab National Bank is the fourth largest bank of India in terms of assets and its assets are estimated at INR 18 trillion (approximately $240 billion). It was established in 1894 and is headquartered in New Delhi. PNB provides savings and current accounts, loans, credit cards, investment products and other services.
- Bank of Baroda (BoB): Bank of Baroda is the fifth biggest bank in India in terms of size, with total assets of INR 16 trillion (approximately $220 billion). It was established in 1908 and is headquartered in Vadodara. BoB offers savings and current accounts, loans, credit cards and investment products.
- Canara Bank: Canara Bank is the sixth largest bank of India with total assets of INR 13 trillion (approximately US $180 billion). It was established in 1906 and is headquartered in Bangalore. The bank offers savings and current accounts, loans, credit cards and investment products.
- Bank of India (BoI): Bank of India is the seventh biggest bank of India in terms of size with total assets of INR 12 trillion (approximately US$ 160 billion). It was established in 1906 and is headquartered in Mumbai. BoI offers savings and current accounts, loans, credit cards and investment products.
- Union Bank of India (UBI): Union Bank of India is the eighth biggest bank of India in terms of size with total assets of INR 11 trillion (approximately US$ 150 billion). It was established in 1919 and is headquartered in Mumbai. UBI provides savings and current accounts, loans, credit cards and investment products.
- Indian Bank: Indian Bank is the ninth biggest bank of India in terms of size with total assets of INR 10 trillion (approximately US$ 140 billion). It was established in 1907 and is headquartered in Chennai. The bank offers savings and current accounts, loans, credit cards and investment products.
- Central Bank of India (CBI): Central Bank of India is the tenth biggest bank of India in terms of size with total assets of INR 9 trillion (approximately US$ 120 billion). It was established in 1911 and is headquartered in Mumbai. CBI offers savings and current accounts, loans, credit cards and investment products.