Banks of India
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Banks of India: Top Five Banks
The history of the Indian banking sector can be traced back to the 18th century. With the integration of technology, the banks of India now offer core banking as well as online banking services. The biggest challenge for Indian banks is to cater to the varying financial needs of a wide range of customers.[br]
Banks of India: Top Five Banks
Here is a list of top five banks of India in terms of consumer base:
- State Bank of India (SBI): Labeled as the largest Indian bank, SBI has 16,000+ branches and 8,500+ ATMs. The State Bank Group has six banking subsidiaries, which help in expanding the business to the mass level. The bank specializes in consumer banking as well as online banking services.
- ICICI Bank: ICICI is the largest private sector bank in India, in terms of total assets. The bank has earned its name for its modern banking services and customized solutions to corporate and enterprise customers. The bank has more than 1,500 branches and over 4,500 ATMs.
- Punjab National Bank (PNB): This is the second largest public sector bank. PNB has a huge presence in the northern states of India. The bank has over 4,500 branches and caters to nearly 38 million customers pan India.
- Bank of Baroda (BOB): This is the third largest public sector bank in India. Bank of Baroda has a large customer base spreading across 25 countries, with special focus on South-East Asia and East Africa. It has 3,000 branches and over 1,100 ATMs worldwide.
- HDFC: An abbreviation of Housing Development Finance Corporation, HDFC is a private entity catering to Indian consumers. In terms of reach and customer base, HDFC is considered the second largest private sector bank. With its head office in Mumbai, HDFC enjoys pan-Indian presence.[br]
Banks of India: Dun & Bradstreet 2009 Rankings
The Bank of India (BOI) was awarded the title of the overall best bank for the financial year 2008-09 by Dun & Bradstreet. The world’s leading global information provider has compiled the results of its research in a publication titled ‘India’s Top Banks 2009’. The highlights of the research are:
- Best public sector bank: Bank of India
- Best private sector bank: Axis Bank
- Best foreign bank: Citibank India
- Global Business Development (Public Sector): Bank of Baroda
- Global Business Development (Private Sector): ICICI Bank Limited
