[FORBES] lists top 9 Biggest Banks in India in 2019 ( ͡° ͜ʖ ͡°)

In our list of 10 biggest banks in India, we are counting for the top largest banks in India by its total assets. State bank of India (SBI) is the largest bank in India with total assets of $480 billion. It is listed in one of the top banks in India by Forbes in 2019.

State Bank of India, Mumbai Branch  Image Courtesy:  Manjulkumar

List of Top 10 Biggest Banks in India 

Banking is the most influential industry in India which helps to grow its economy. India has got very strong banking and financial sector. There are a large number of banks which are owned both government and public. Reserve Bank of India (RBI) is the central bank in the country which controls all the commercial bank.

However, there are altogether 18 public sector banks, 21 private banks and 45 foreign banks in India. Here we have listed the top 10 biggest banks in India by its total assets. (We have counted only Indian banks for this list)

1. State Bank of India - (US $ 480 billion)

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State Bank of India (SBI) is the biggest bank in India. It's headquarter is located in Mumbai, Maharastra. It is the public sector bank and is owned by the Government of India. It was found on 1st July 1955. SBI has got total assets of US $500 (according to the record updated on Febuary 2019). This bank provides its services across the globe. It has got a total of 2400 branches in India and 191 offices overseas.  

It has got 23% of the market share in assets and has almost 264,041 working employees (updated in March 2018). The bank provides services in the field of investment, insurance, finance, mortgage loan, private and corporate banking, credit cards and wealth management. And SBI has got these three famous taglines: "Pure Banking Nothing Else", "The Nation banks with us", & "With you all the way".

Recent Achievement: SBI has managed to get the 216th position on the Fortune Global 500 list of the world's biggest corporations of 2018. 

2. HDFC Bank - (US $ 150 billion)

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HDFC Bank Limited is the second largest bank in India with total assets of worth US $ 170 billion as of 2018 financial year. It is the largest private banking corporation in the country. It was established in the year 1994, about 24 years ago. The headquarter is located in Mumbai, Maharastra. HDFC Bank has also established its branches overseas in Hong Kong, Dubai, and Bahrain.

This bank provides banking & financial services along with a loan, equity & insurance services. And it is growing rapidly in the domestic market so, it is also the largest bank in India by market capitalization. There are about 98,061 working employees (updated on March 31, 2019). The famous tagline of HDFC Bank is "The World's Local Bank".

Recent Achievement: Stands at 60th position for BrandZ Top 100 Most Valuable Global Brands 2019.

3. ICICI Bank - (US $ 130 billion)

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ICICI Bank is the second biggest privately-owned bank in India and at the third position for the biggest bank in India by total assets. The bank has total assets worth US $ 130 billion. It was established in January 1994. It serves worldwide and has the headquarter located in Mumbai. ICICI Bank has got the place in Big Four Banks in India.  

The bank has got about 4867 branches across the country and provides services in 16 other countries worldwide. It has got branches in the United States, Canada, Sri Lanka, Qatar, and in some other countries. The estimated number of employees working is almost 83,000. The bank provides all kinds of banking services like retail banking, private banking, credit card, insurance and wealth management. The ICICI bank has got 14367 ATMs across India. This bank has a very interesting tagline in its national language, which says " Hum hai na..." and this means "We are there to help you".

Recent Achievement: Recognised as "Best Foreign Exchange Provider in India" by Global Finance Magazine.

4. Punjab National Bank - (US $ 110 billion)

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Punjab Nation Bank (PNB) is the multinational banking and financial corporation. It is a public sector bank which was founded on 19 May 1894, which is 125 years ago. It has got total assets of US  PNB's headquarter is located in New Delhi. This bank has even established its subsidiary in the UK. And has got many branches in Hong Kong, Kabul, Dubai & Kowloon.

PNB delivers services regarding consumer banking, corporate banking, investment, finance, private equity, etc. There are over 7000 branches and altogether 10681 ATMs across the country. Punjab National Bank has mentioned a good relationship with the customers and has over 110 million customers. There are more than 85,000 employees working in this bank. The bank's catchy tagline is " The Name you can bank upon"

Recent Achievement: PNB managed to stand at 717th position in the Forbes Global 2000 in 2013

5. Bank of Baroda - (US $ 100 billion)

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Bank of Baroda (BOB) is the fifth-biggest bank in India with total assets of worth US $ 100 billion as of the end of 2018 financial year. It is also a public sector bank which has it's headquartered in Vadodara, Gujarat. This bank was founded on 20th July 1908, which is about 110 years ago by Maharaja Sayajirao Gaekwad III. The bank serves worldwide with altogether 9583 branches in India and abroad.

The bank delivers all kinds of banking services like consumer banking, investment, insurance, private banking, wealth management, and loans. Bank of Baroda has got its tagline as "India's International Bank" and has 85,000 working employees worldwide. 

Recent Achievement: Ranked 1145 on Forbes Global 2000 list in the financial year 2017.

6. Axis Bank - (US $ 96 billion)

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Axis Banks has total assets of worth 96 billion at the end of the financial year 2018 which makes it the third-largest private bank in India. Axis bank was established in 1993 and till the present day, it has got over 4,000 branches across the country. Axis bank has also spread its branches overseas, there are nine international offices.

Axis bank provides banking and financial services like mortgage loan, investment banking, retail banking, credit card, etc. About 59,600 employees are working together to provide all the banking facilities in the country. Axis bank provides services to a large and mid-sized corporation and also to the retail business.  

Recent Achievement: It has received the title of "No 1 Promising Banking Brand of 2015" by Economic Times Award 2015

7. Canara Bank - (US $ 90 billion)

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Canara bank was firstly established in 1906 (113 years ago) in Mangalore by Ammembal Subba Rao Pai. This is one of the oldest public sector bank having headquarter in Bengaluru. It has got a network of strong customers throughout the world and has got offices in London, Moscow, Shanghai, Dubai, Moscow, and New York. The total number of branches were updated to be 6310 in March 2019.

This bank mainly deals with corporate banking, pensions, credit cards, and assets management. Altogether 58,350 employees are working together to provide the banking facilities in the nation and overseas. And it has got two amazing taglines as "Together we can" & "It's easy to change for those who you love"

8. Bank of India - (US $ 88 billion)

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Bank of India (BOI) is owned by the Government of India and was founded in 7th September 1906. It is a public sector bank having total assets of US $ 88 billion. BOI is engaged in providing mortgage loan, credit card and asset management services. More than 500 branches are present in the country whereas 57 offices outside India as of the financial year 2017.  There are 48,680 BOI employees serving worldwide. And this bank truly justifies tagline "Relationships beyond banking" by providing service for 112 years.

9. Union Bank of India  - (US $ 59 billion)

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Union Bank of India (UBI) stands at the 9th position in the list of largest banks in India in 2019. It is the largest government-owned bank which was founded in November 1919 and has got headquartered in Mumbai. The total assets are worth US $ 59 billion and 90% of its share capital is owned by the government. Mahatma Gandhi inaugurated UBI since then it is serving the nation. There are four branches overseas in Dubai, Sydney, Hong Kong & Antwerp

UBI provides all sorts of banking services. And there are thousands of employees who work in 4,300 branches of the bank

10. Indian Bank  - (US $ 58 billion)

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Indian Bank is one of the oldest banks in India which was established about 111 years ago in 1907. The headquarter is located in Chennai and has got total assets of worth US $ 58 billion. Indian Bank is regarded as one of the top performers as it provides efficient banking facilities. There are more than 3000 ATMs and over 1000 cash deposit machines in the country. "Your tech-friendly bank" is the tagline of Indian Bank