Top 10 Banks in India by Size and Market Capital

Banks in India are currently quite great in terms of supply, product range and reach-even though access in rural India still remains a challenge for private sector and foreign banks.

The banking sector is called as the backbone of Indian economy. This article is useful for you if you want to know the top 10 banks in India in terms of size and market capitalisation. The Market capitalisation is a pretty useful tool for investors to know the aggregate valuation of the company. It helps in knowing the size of a company along with the associated risks. This parameter is based on the current market price of one stock and the total number of outstanding stocks.

Now, let’s check the top 10 banks in India in terms of market capitalization:

1. HDFC Bank Ltd. (NSE: HDFCBANK)

HDFC Bank is the largest bank in India, considering the market capitalization factor.

In 2022, this private bank’s market capitalisation is Rs.617,499 crores.

HDFC Bank Limited (headquartered in Mumbai) has 5,103 branches and 13,160 ATMs across 2,727 cities in India. This bank is also the largest private sector lender in India, in terms of assets. AsiaMoney has named HDFC Bank as the Best Digital Bank of India. This banking and financial services company has permanent employee strength of 98,061. The gross NPA of HDFC is 1.36%.

2. ICICI Bank Ltd (NSE: ICICIBANK)

ICICI Bank Limited is an Indian MNC banking entity that has a market capitalization of Rs. 2,66,974 crore. Its registered office is in Vadodara (Gujarat) and headquarters in Mumbai (Maharashtra). ICICI Bank has 4847 branches and 14,987 ATMs across India. It is present in 16 countries outside India and its offshore offices are in the USA, China, Dubai International Finance Center, Singapore, Bahrain, South Africa, and many more. The gross NPA of ICICI bank is 6.7%.

3. Kotak Mahindra Bank Ltd. (NSE: KOTAKBANK)

Kotak Mahindra Bank is the third largest and private bank in India, in terms of market capitalization. As of 2022, its market cap is Rs. 2,83,464 crores. This leading private bank boasts of having a network of 1,500 branches and 2,352 ATMs across India. Kotak Mahindra Bank was founded in Feb’2003 and by Feb’2014 it achieved 245th rank in Brand Finance Banking 500. It has revenue of Rs. 31,346 crores and more than 50,000 employees across India. The Gross NPA of Kotak Mahindra Bank is 1.9%.

4. State Bank of India (NSE: SBIN)

State Bank of India (SBI) is the largest public sector bank in India. This Indian multinational bank is headquartered in Mumbai (Maharashtra) and it had ranked 221st in the Fortune Global 500 list. In terms of market cap, SBI is the second largest bank in India. As of 2022 its market capitalisation is Rs. 2,60,331 crores.

There are 22,010 branches and 58,415 ATMs across India. State Bank of India has a gross NPA of 7.53%

5. Axis Bank Ltd. (NSE: AXISBANK)

Axis Bank has a market capitalization of Rs. 1,76,669 crores. As of 2022 it makes Axis bank the 5th largest bank and 4th largest private bank in India. It is headquartered in Mumbai and has 4094 branches, 11,801 ATMs and 3,548 cash recyclers across India. Axis Bank Limited has a revenue of 56,044 crores and an employee strength of more than  78,000. The gross NPA of Axis bank is 5.25%

6. IndusInd Bank Ltd. (NSE: INDUSINDBK)

IndusInd Bank is the first ever new generation private bank in India. It was founded in 1994 and started its operations with an operational capital of Rs. 1 billion. IndusInd Bank Limited has 1,938 branches and 2,605 ATMs across India. Most of its branches are in Mumbai (headquarter), New Delhi, and Chennai (Tamil Nadu).

Its representative branches abroad are located in Abu Dhabi, Dubai, and London. This private bank has a market capitalization of Rs. 96,912 crores.

7. Yes Bank Ltd. (NSE: YESBANK)

Yes Bank is one of the fastest growing private banks in India whose market capitalisation is Rs. 34,575 crores. It was founded in 2004 by Rana Kapoor and Ashok Kapur. This corporate entity has retail banking and asset management subsidiary functions. It has revenue of Rs. 20,039 crores with employee strength of more than 23,800. In India, Yes Bank Limited has more than 3,419 branches and over 1800 ATMs.

8. Punjab National Bank (NSE: PNB)

Punjab National Bank (PNB) is a state-owned corporation that boasts of having a customer base of more than 180 millions, around 12,248 branches, and 13,000 ATMs across India. PNB has employee strength of over 103,000. It is a nationalized bank that has a market capitalization of Rs.504 crores which makes it one of the leading banks in India.

9. Bank Of Baroda (NSE: BANKBARODA)

Bank of Baroda (BoB) is a public sector MNC bank that is headquartered in Vadodara (Gujarat). As of 2022, it has a market capitalization of Rs. 58,384 crores. BoB is the first ever bank in India to witness a 3-way merger. It was officially merged with Dena Bank and Vijaya Bank on April 1, 2019. Bank of Baroda is one of the leading most banks having least non-performing assets 666 billion Indian rupee. This consolidated bank now has 13 crores customers, 8,214 branches, 10,033 ATMs, and 87,000 employees across India.

10. Bank Of India (NSE: BANKINDIA)

Bank Of India (BoI) is yet another public sector bank that has figured in the top 10 banks in terms of market capitalisation. Its market cap is Rs. 19,574,06 crores. Bank of India is a founding member of SWIFT. This Mumbai-headquartered bank has total employee strength of over 51,459 and revenue of 48,040.47 crores. While BoI has over 5,100 branches across India, 45 offices are located abroad.

The market capitalisation  of India has undergone a lot of changes after the challenges and the irremediable loss faced over the past two years due to the pandemic. There have also been some huge revolutionary and significant changes.