Since the banking sector reforms in 1991, the Indian banking industry has come a long way. The sector has grown fast regarding the number of banks, branches, ATMs, and other infrastructure.
In this post, we look at a comprehensive list, including the top private banks in India. We have considered the rankings as per their total assets, CRAR (Capital to Risk-Weighted Assets), net profits and return on investments.
Top Banks in India
The net profit earned in the third quarter of 2021 is mentioned below:
- HDFC Bank (Rs 8,758.29 Cr)
HDFC Bank is among the leading banks in India. The lender has a wide range of offerings across various segments such as savings accounts, credit cards, home loans, car loans, personal loans and fixed deposits.
- State Bank of India (Rs 5,196.22 Cr)
The State Bank of India is India's largest and most trusted commercial bank. It is among the oldest banks in the country and is headquartered in Mumbai, Maharashtra. SBI has a range of banking products for personal banking, corporate banking, NRI banking, wealth management and more. The bank also offers one of the best credit cards in India.
- ICICI Bank (Rs 4,939.59 Cr)
ICICI Bank is a household name for financial services in India. The lender offers a wide range of products such as savings accounts, debit cards, credit cards, fixed deposits and loans for home and personal needs.
- Axis Bank (Rs 1,116.60 Cr)
Axis Bank is one of India's leading private sector banks and offers a host of credit cards, debit cards, savings accounts, fixed deposits, and loans for personal and business needs.
- Kotak Mahindra Bank (Rs 1,853.54 Cr)
Kotak Mahindra Bank is one of the best private banks among the top 10 in India. Kotak Mahindra Bank was founded in 1985 by Uday Kotak, and it was initially known as Kotak Mahindra Finance Limited. The bank had started with a capital of just Rs. 1 lac (Rs. 100,000), but now it has become one of India's largest private sector banks.
- Induslnd Bank (Rs 852.76 Cr)
It is one of the new age private sector banks in India.
The bank offers its customers personal, business, and corporate banking services. It provides various financial products like deposits, loans, debit cards, credit cards, prepaid cards, mutual funds and insurances.
- Punjab National Bank (Rs 506.03 Cr)
Punjab National Bank (PNB) is a banking and financial services company based in New Delhi, India. It has a strong presence in Northern India and has more than 8000 branches. The bank also offers online banking services like credit card bill payment options and mobile banking, ATM banking, and phone banking facilities.
- Bank Of Baroda (Rs 1,061.11 Cr)
Founded in 1908, the Bank of Baroda is India's most popular and trusted bank. The bank has over 5600 branches across the nation. The bank offers personal, home, education, and car loans at affordable interest rates with minimal documentation.
- Bank Of India (Rs 540.72 Cr)
Bank of India was founded in 1906 by eminent businessmen from Mumbai. The bank has rapidly grown over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. The bank occupies a premier position among the nationalised banks in business volume.
Yes bank is one of the top private sector banks in India. The bank offers products and services through various channels such as Retail, SME, Agri & Development Banking and Corporate & Institutional Banking. It offers deposit products, loans and advances, investment banking services, and treasury services.
This list should help you find the right bank for your specific financial needs. Depending on what type of savings accounts and investment options you're looking for, you should have no trouble finding one that fits the bill.
FAQs on Top 10 Banks in India
Q.1) Which is the first bank in the Top 10 Indian banks list?
HDFC Bank is the first bank to list the top 10 Indian banks.
Q.2) Which are the top 5 banks in the Top 10 Indian banks?
HDFC Bank, SBI Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank are the top 5 banks list of top 10 Indian banks.
Q.3) Which is the oldest commercial Bank in India?
State Bank of India (SBI) is the oldest Bank in India.