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India is a country with huge population, which accounts for a large number of players in the banking sector of the country.Private Banks won over most nationalized banks because of the quality of services they offered to their customers. With years, banks are also adding services to their customers. The Indian banking industry is passing through a phase of customers market. The customers have more choices in choosing their banks. A competition has been established within the banks operating in India. So, which banks provide the best services?You can see below list of top 10 bank in India.State Bank of India was founded in 1806 as Bank of Calcutta which was renamed as State Bank of India in 1955.It is India’s largest bank and also has operations in around 36 countries and SBI recently became the top merchant acquiring bank in the country. The leading bank of India in 2015 is State Bank of India, which has been serving customers since 1955 and has more than 17000 branches in the country in addition to 27000 branches, where more than 3 lakes people are employed. The bank shared a 20% chunk in the banking sectors of the country and its asset management value is $ 390 billion.
ICICI is the second in the list when it comes to quantity of assets managed by the Bank. According to the current market cap ICICI is ahead of SBI but behind HDFC. ICICI Bank has about 3540 branches, 11200 ATM’s and over 82000 employees. The bank manages assets worth 99 billion USD.
Punjab national bank was founded in year 1895, and is now based in New Delhi. It has more than 5000 branches across 764 cities.The bank serves more than 37 million customers which is more than enough to speak about the popularity of bank.
Bank of baroda with deposits of rs 305,439 crore (rs 3,054.39 billion) and an operating profit or rs 6,982 crore (rs 69.82 billion), it is rated the top indian bank by business today and kpmg, a global consulting firm.It was founded by the maharaja of baroda, sir sayajirao gaekwad iii, on july 20, 1908 in the princely state of baroda in gujarat. It was nationalized by the government of india on july 19, 1969.
The hdfc bank was incorporated in the year 1994 (august) after the reserve bank of india allowed establishing private sector banks. Since then it has grown to be one of the major indian financial services company in the country.HDFC is the largest private bank in India. This bank was incorporated in August 1994. As of December 2012, HDFC Bank had 2,776 branches and 10,490 ATMs across 1,399 cities in the country.
The bank has about 3200 branches with over 4000 ATM’s. The bank employees about 44,000 people. Assets managed by the bank are valued at 61 billion USD.
Axis bank was established in year 1994. It has 729 branches and 3171 ATMs in country. It is one of most popular and 3rd largest bank in India. The bank is popular due to quality of service.The bank manages assets worth 54 billion USD. The bank’s net profit is 1.5 billion USD.
Currently, it is operating through 4187 branches, including 52 overseas branches, and nearly 1700 ATMs.Net income: 24,887.1 million (US$370 million)Headquarters: Mumbai, Maharashtra, India
The bank employees about 15000 people. It manages assets worth 42 billion USD.At present, the bank manages assets worth $ 42 billion and operates through 1150 branches and 2000 ATMs, which are served by an employee base of 15000 people.
The last one in this list of top 10 banks in India, is the Union Bank of India. This bank was established on 11 November, 1919. The bank has around 3,200 ATMs in the country.Its present net asset management is worth nearly $ 13.45 billion.