The banking sector is the most powerful and the leading industry in the
Indian economy. After several reforms and advancements during the
independence and post-independence phase, the banking sector witnessed
immense prosperity. Currently, the country has about 26 public sector
banks, 25 private sector banks, 43 international banks, and several
scheduled and co-operative banks operating within the Indian economy.
But the dominating position in the market is enjoyed by the public
sector banks which own nearly 80 percent market share.
Below is the list of the top 10 largest public sectors banks in India in 2018 based on their market capitalisation.
IDBI Bank (Industrial Development Bank of India) is counted among the largest commercial banks of India. The bank was established in 1964 and is headquartered in Mumbai. IDBI has played a major role in building the nation during the last 55 years. It functioned as a pinnacle Development Financial Institution (DFI) from 01st July 1964 to 30th September 2004 in the industrial sector and from 01st October 2004 onwards, the bank became a full-fledged commercial bank. The bank has about 3900 ATM centers and 2000 branches including one in Dubai. The Life Insurance Corporation of India (LIC) has received a final approval on 29th June 2018 from Insurance Regulatory and Development Authority of India (IRDAI) to hold up to 51% stake in IDBI.
Market Capitalisation: Rs. 25,087.14 crores
Total Assets: Rs. 252,130.23 crore
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4. Punjab National Bank (PNB)-
Punjab National Bank was established on 12th April 1895 in Lahore under the leadership of Lala Lajpat Rai as a part of the Swadeshi movement. It became the first bank on the Indian soil to be solely managed by the Indians by utilizing Indian capital. PNB has its headquarters in New Delhi. Since the bank came into operations, it has merged with seven banks. There are over 10,000 ATM centers and 6900 branches of this bank which includes 62% of the branches set up in semi-urban and rural areas.
Market Capitalisation: Rs. 23,699.52 crores
Total Assets: Rs. 596,475.62 crore
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5. Bank of India (BOI)-
Bank of India was established on September 7, 1906, as a result of the partnership between few noted businessmen hailing from Mumbai. Initially, the Bank was privately-owned and controlled but turned into a public sector bank in 1969 after the nationalization of banks. It has more than 5,000 branches operating in the country and 60 branches operating in 22 countries abroad. The important overseas centers of this bank are Singapore, Paris, Tokyo, Hong Kong, New York, New Jersey, and London.
Market Capitalisation: Rs. 17,726.09 crores
Total Assets: Rs. 477,165.56 crore
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Below is the list of the top 10 largest public sectors banks in India in 2018 based on their market capitalisation.
1.State Bank of India-
State Bank of India is the largest and one of the oldest banks operating
in India. It is a government-owned company established in 1955 and has
its headquarters in Mumbai. SBI deals in banking and financial-related
services having a presence internationally. Forbes has ranked this bank
at the 217th position in its “Fortune Global 500” list which contains
the names of the largest corporations all over the world in 2017. After
merging with its 5 associate banks and Bharatiya Mahila Bank on April 1,
2017, this bank has accomplished in serving more than 42 crore
customers through more than 24,000 branches and over 59,000 ATM
facilities. The bank also enjoys an international presence with 195
offices set up in 36 counties.
Market Capitalisation: Rs. 263,230.71 crores
Total Assets: Rs. 2,868,721.08 crore
Market Capitalisation: Rs. 263,230.71 crores
Total Assets: Rs. 2,868,721.08 crore
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2. Bank of Baroda (BOB)-
Established in 1908, Bank of Baroda is the second largest nationalized
bank having its headquarters in Vadodara in Gujarat and corporate office
in Mumbai. The bank provides services relating to banking and finance.
Currently, it has 5,573 branches functioning all over the world
(including 104 overseas branches) and more than 1600 ATM facility
centers across India. BOB caters to more than 78 million customers in
around 25 countries all over the world. Its services include debit and
credit card facilities, loans, and wealth management.
Market Capitalisation: Rs. 39,960.52 crores
Total Assets: Rs. 573,265.55 crore
Market Capitalisation: Rs. 39,960.52 crores
Total Assets: Rs. 573,265.55 crore
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3. IDBI Bank-
IDBI Bank (Industrial Development Bank of India) is counted among the largest commercial banks of India. The bank was established in 1964 and is headquartered in Mumbai. IDBI has played a major role in building the nation during the last 55 years. It functioned as a pinnacle Development Financial Institution (DFI) from 01st July 1964 to 30th September 2004 in the industrial sector and from 01st October 2004 onwards, the bank became a full-fledged commercial bank. The bank has about 3900 ATM centers and 2000 branches including one in Dubai. The Life Insurance Corporation of India (LIC) has received a final approval on 29th June 2018 from Insurance Regulatory and Development Authority of India (IRDAI) to hold up to 51% stake in IDBI.
Market Capitalisation: Rs. 25,087.14 crores
Total Assets: Rs. 252,130.23 crore
Click here for more details
4. Punjab National Bank (PNB)-
Punjab National Bank was established on 12th April 1895 in Lahore under the leadership of Lala Lajpat Rai as a part of the Swadeshi movement. It became the first bank on the Indian soil to be solely managed by the Indians by utilizing Indian capital. PNB has its headquarters in New Delhi. Since the bank came into operations, it has merged with seven banks. There are over 10,000 ATM centers and 6900 branches of this bank which includes 62% of the branches set up in semi-urban and rural areas.
Market Capitalisation: Rs. 23,699.52 crores
Total Assets: Rs. 596,475.62 crore
Click here for more details
5. Bank of India (BOI)-
Bank of India was established on September 7, 1906, as a result of the partnership between few noted businessmen hailing from Mumbai. Initially, the Bank was privately-owned and controlled but turned into a public sector bank in 1969 after the nationalization of banks. It has more than 5,000 branches operating in the country and 60 branches operating in 22 countries abroad. The important overseas centers of this bank are Singapore, Paris, Tokyo, Hong Kong, New York, New Jersey, and London.
Market Capitalisation: Rs. 17,726.09 crores
Total Assets: Rs. 477,165.56 crore
Click here for more details
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