India has one of the most strong banking, financial and market capitalization with a number of banking companies, including public sector banks and private sector banks. Here is the list of India’s top 12 largest banks in terms of revenue, branches and total assets.
Top 10 Largest Public Sector Banks of India in 2019
After merger of banks in India now there will be only 12 public sector banks in India, listed as below by asset. Bank of India, Bank of Baroda and Central Bank of India will continue to remain independent.
1. SBI Bank (State Bank of India)
The State Bank of India is the largest bank in India and one of the world’s biggest corporations. SBI bank of India is one of the largest employers in the country and most trusted brand and bank in India.
SBI bank is also listed as one of the top 10 biggest companies of India by revenue in 2019 and possibly in 2020.
2. PNB (Punjab National Bank)
Punjab National Bank is one of the big four banks of India offers multinational banking and financial services. PNB had the privilege to take over Nedungadi Bank, the oldest private sector bank as well as accounts of national Indian leaders.
Oriental Bank of Commerce and United Bank merger will merge into Punjab National Bank. Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to become a second-largest public bank in India.
3. Bank of Baroda
Bank of Baroda is a multinational Indian bank owned by the Government of India and country’s third-largest lender. The bank merge with Vijaya Bank and Dena Bank and become third largest bank in India after SBI bank and ICICI bank.
4. Canara Bank
Canara Bank is the Government of India and listed as one of the oldest public sector banks in India as well as one of the largest public-sector Indian bank.
Canara Bank and Syndicate Bank will merge to become the fourth-largest PSB bank in India.
5. UBI (Union Bank of India)
Union Bank of India will amalgamate with Andhra Bank and Corporation Bank – fifth largest public sector bank of India. Union Bank of India is listed on the Forbes 2000 and one of the top 10 large government-owned banks of India, having overseas branches in Hong Kong, Dubai.
Union Bank of India will amalgamate with Andhra Bank and Corporation Bank – fifth largest public sector bank of India.
6. BOI (Bank of India)
Bank of India is one of the top 10 banks in India and a commercial bank with 56 offices outside India. The Bank of India has 5100 branches and founder member of SWIFT.
7. Indian Bank
Indian Bank is the seventh largest bank in the country, after the merger of Kolkata-based Allahabad Bank. The bank is owned the Government of India and a top-performing banks in the public sector.
The merger of Allahabad Bank with Indian Bank will create the seventh-largest public sector bank with Rs 8.08 lakh crore business.
8. Central Bank Of India
Central Bank of India is another oldest and one of the largest commercial banks in India and has a joint venture with Bank of India and Bank of Baroda.
9. IOB (Indian Overseas Bank)
Indian Overseas Bank is based in Chennai and has an ISO certified information technology department with international branches in Singapore, Colombo and Bangkok.
10. UCO Bank
UCO Bank is among the India’s most trusted brands, having offices spread all over India as well as couple of overseas branches. This bank along with Bank of Maharashtra and Punjab and Sind Bank will continue as separate entities.
Top 5 Private Sector Banks in India by Revenue
The private sector banks in India does not shares or equity with the government, like Yes bank, Kotak Mahindra Bank etc.
ICICI Bank (Industrial Credit and Investment Corporation of India) – ₹736.60 billion
ICICI Bank is the second largest bank in India and also listed as one of the Big Four banks of India having subsidiaries in Canada, United Kingdom and the United States, Also largest private-sector Indian bank.
Axis Bank – ₹414.093 billion
Axis Bank is third largest private sector banks in India, employs over 55,000 people and nine international offices.
IDBI Bank (Industrial Development Bank of India) – ₹253.71 billion
IDBI Bank was established in 1964 for promoting and developing industry in India to provide financial facilities to list of Indian industries. Government of India and Life Insurance Corporation of India held shares in the Industrial Development Bank of India.
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Kotak Mahindra Bank – ₹211.76 billion
Kotak Mahindra Bank offers the private banking along with services in the areas of personal finance, investment banking and general insurance. By Revenue, Kotak Mahindra Bank is the top five private-sector banks in India.
HDFC Bank (Housing Development Finance Corporation) – ₹816.02 billion
HDFC Bank is India’s largest private sector lender by assets and also largest bank in India by market capitalization.
Nedungadi Bank was the first private sector bank in India, located in Kozhikode of Kerala. Yes, Bank, Bandhan Bank, Federal Bank, IndusInd Bank, IDFC First and Kotak Mahindra Bank are few more largest private sector banks in India.