The banking system in India had gone for a crazy ride with ever increasing NPA’s and the Nirav Modi scam and not to forget the latest IL&FS liquidity crunch saga which has impacted the banking system as a whole.
Even ICICI the big four bank of India was impacted by allegations of fraud on its ex-boss Chanda Kocher and her husband.
Currently, the 10 largest banks in India are –
- State Bank of India – SBI controls nearly 25% of the Indian banking space in terms of assets managed. It has the largest physical presence in India as its state-owned. Its net profits are 1.5 billion USD (2017). It directly employs roughly around 280K people. Total assets managed – 480 billion USD.
- HDFC Bank – HDFC bank is one of the largest banks in India when it comes to market capitalization and profitability. The company had an annual net profit of 2 billion USD in 2017. It employs roughly around 90K people and is considered as one of the best service providers in the nation. It services the largest number of assets in the nation. Total assets managed – 120 billion USD.
- ICICI Bank – ICICI is the second largest private sector bank in India in terms of assets serviced. Its net profits for 2017 stands at 1.1 billion USD. It employs roughly around 81k people. Total assets managed – 160 billion USD.
- Bank of Baroda – BOB is the second state-owned bank and stands fourth in the list. Its net profits for 2017 stood at 300 million USD. It employs around 60K people. Total assets managed – 93 billion USD.
- Canara Bank – The state-owned bank manages assets worth 86 billion USD. It employs about 52K people. Its net income stands at 160 million USD.
- Punjab National bank – The only Indian bank which has less market cap to total assets managed. Market cap stands at 22K crores. Total assets managed are 93 billion USD. It employs about 72K people.
- Axis bank – Formerly UTI the bank has a good brand recall. Its the third largest private sector bank in India. It employs about 55K people. Its net income in 2017 stood at 40 million USD. It manages assets worth about 93 billion USD.
- IDBI bank – one of the loss-making GOI owned bank which employes around 30K people. It manages assets worth 52 billion USD. It had a loss of 500 million USD in 2017. It employs around 27K people.
- Bank of India – Another loss-making nationalized bank which faces a loss of over 800 million USD last year. It manages assets worth 85 billion USD. It employs around 45K people.
- Kotak Mahindra Bank – Kotak is one of the emerging players which has been in existence since the last 15 years. It was issued banking license by RBI in the year 2003. Its net income stands at 480 million USD. It employs around 33K people. Total assets managed – 30 billion USD.
Bonus – Another top bank in India is IndusInd Bank. Would have been 11th or 12th on this list.
The methodology used – Fundamentals (quantitative side) was considered. No qualitative side fundamental was considered. Purely based on numbers i.e. net income, assets managed, number of employees and market capitalization.