In the tough times of economic recession in the world, banks in India have remained strong despite the worsening situations. It is difficult to rank them as all of them have performed excellently in the last years. Moreover, banks have not stopped their regular employment of professionals by their yearly recruitment drives.
Let’s see the top 10 Banks in India from Government and Prove sector and which have contributed enormously to Indian economy during the 1 year.
State Bank of India
State Bank of India is known to all as the largest government bank in India. It has got its six associate banks or subsidiaries, which also operate with its logo- the round shaped key hole. It is the award winning financial institution in SME financing, rural banking and excellence in technology adoption in the banking systems and procedures. In capital market and insurance, it has seven subsidiaries. The number of branches has grown to become more than 27,000, while there are more than 25,000 ATMs. Being headquartered in Mumbai, it is the only bank to reach every nook and corner of rural India.
Bank of Baroda
Bank of Baroda is the topmost nationalized bank today with a deposit base of rupees 3, 05,439 crores (equivalent to Rs 3054.09 billion) and an annual profit of Rs 6982 crore or Rs 69.82 billion. Business Today magazine with KPMG has given the bank the ranking of being the 1st among all the banks in India in terms of credibility and services to its customers. The bank had a humble beginning in the year 1908 and it was nationalized by government of India in the year 1969. As of today, the bank operates through its 3000 branches and it has more than 3000 ATMs in India.
Although HDFC Bank began its operations only in the year 1994, it has had considerable growth within a time span 19 years. It has remained pragmatic in the formation of flexible policies in personal banking and operates with a capital base of Rs 208, 568 crores and it is credited with making operating profit of Rs 7,725 crore. With a network of 1725 branches and 4232 ATMS, spread across the cities in India, the bank is a major attraction as modern days banking.
AXIS Bank is credited with being the fastest growing bank of India. Being in the league of private banks that began operations in the year 1994, it is right now being promoted by Unit Trust of India (UTI) and other insurance companies. In the last financial year, AXIS Bank had a working capital of Rs 13, 437 crores and a net profit of Rs 4242 crores. AXIS is one of the banks to operate through a network of 1947 branches and almost 12,000 ATMs in the country.
Bank of India
Bank of India has an eminent place in the banking industry. As a state owned financial institution, it has it’s headquarter in Mumbai. Being the 4th largest public sector bank, it has 4187 branches, 1679 ATMs and 54 branches from the total number of branches are located abroad. Bank of India is the core member of society of worldwide interbank financial communication- an organization that helps gainful financial dispensation and communication services. On 7th September 2006, the bank has completed 100 years of its existence.
Punjab National Bank
Punjab National bank is the third biggest bank in India by assets. With more than 5000 branches across the country, it is also the 2nd biggest bank in India after Bank of Baroda. In the year 2011, it got the 26th rank by the Fortune India magazine.
Yes Bank is known to all as a new bank with Ashok Kapur and Rana Kapur as founder members. Rana Kapur, its present Managing Director has been honored with the award of “Entrepreneurial Banker of the decade 2001-2010 by Bombay Management association. He has also been bestowed with UTV Financial leadership award for the year, 2011. Within a short span of time, it has achieved remarkable growth.
Standard Chartered Bank
Standard Chartered bank is the most prestigious foreign bank in India. It has been recognized as the best foreign bank that has been operating at Kolkata in India since April 1858. The bank is quite active in consumer banking and wholesale banking. Through consumer banking, it meets the needs of private, small and medium sized organizations and through wholesale banking, it caters to all the aspects of lending and portfolio management.
ICICI Bank is a financial institution having diversified into many areas of financial activities. It is only private bank in India with highest reach in the rural areas.It is ranked as the second largest bank in terms of assets and the third largest by market capitalization. The ICICC is the bank that open bank account at your door step. The bank has a number of subsidiaries, joint ventures and other associates with a number of services in financial services.
Although steeped in internal crisis due to the prevailing atmosphere in economic recession, City Bank is still regarded as one of the best banks in many areas of financial services. The City group is still regarded as a giant in financial services and trusted due to its more than a century old establishment and expertise in financial management.abc