5 Largest Indian Banks by Assets

1. State Bank of India

Assets as of Fiscal Year 2021 (trillion Indian rupees): 50.55

State Bank of India is the largest public sector bank by assets in India and also the largest bank by assets in India. As a result, State Bank of India ranks #1 on our list of 16 Largest Indian Banks by Assets. As of fiscal year 2021, State Bank of India had assets of $620.22 billion which under current exchange rates is 50.55 trillion Indian rupees.

Fitch Ratings describes State Bank of India, “Fitch expects India’s strong potential GDP growth of 7% over the medium term and stable operating environment (OE) – despite some near-term inflationary pressure – to create moderate opportunities for banks to do profitable business. The large and diversified economy, high domestic consumption growth, and reasonable insulation from external risks are also supporting factors. Dominant Presence: SBI’s business profile score of ‘bbb-‘ is the highest among Indian banks and above the OE score of ‘bb’. It reflects SBI’s dominant market share in system assets, liabilities and deposits; unparalleled domestic reach; and better pricing power. Government influence can weigh on its traditional business model (loans: 58% of assets), and even more so its risk appetite, similar to other state banks. Growth Gradually Returning: SBI’s loan growth guidance of over 15% for the financial year ending March 2023 (FY23) highlights that its risk appetite is gradually returning.”

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