In this article, we discuss 5 largest Indian banks by assets. If you want to see more largest Indian banks by assets, go directly to 16 Largest Indian Banks by Assets.
5. Bank of Baroda
Assets as of Fiscal Year 2021 (trillion Indian rupees): 11.55
Bank of Baroda is a public sector bank that ranks #5 on our list of 16 Largest Indian Banks by Assets. As of fiscal year 2021, Bank of Baroda was among India’s largest banks with assets of 11.55 trillion Indian rupees. With its scale, the bank can afford to spend more on technology that could potentially help it grow assets further.
4. Punjab National Bank
Assets as of Fiscal Year 2021 (trillion Indian rupees): 12.6
Punjab National Bank is a public sector bank with headquaters in New Delhi. The bank is also one of India’s largest banks with 10,038 domestic branches, 2 international branches, and 12,9666 ATMs. As of fiscal year 2021, Punjab National Bank had assets of 12.6 trillion Indian rupees.
3. ICICI Bank
Assets as of April 2022 (trillion Indian rupees): 14.11
ICICI Bank is one of India’s leading private banks with assets of 14.11 trillion Indian rupees. The bank is also one of the few Indian banks listed in the United States. Specifically, ICICI Bank is listed on the NYSE as ICICI Bank Limited (NYSE:IBN).
According to the bank, India benefits from a growing young population, rising consumption, the largest source of human capital, and the country’s status as the world’s factory. If India’s economy continues to grow and the company maintains its market share, ICICI Bank could increase its assets in the coming decades.
2. HDFC Bank
Assets as of April 2022 (trillion Indian rupees): 20.69
HDFC Bank is another of India’s leading private banks that’s listed in the United States. For HDFC Bank, it is listed as HDFC Bank Limited (NYSE:HDB). In terms of assets, HDFC Bank is India’s second largest bank with 20.69 trillion Indian rupees as of April 2022. In terms of services, the bank offers retail, commercial, and investment banking. HDFC Bank has 129,340 employees and has long term growth potential if it maintains its market share.
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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