The Largest Banks in India in 2017

The Largest Banks in India in 2017

The banking system and, in general terms, the financial system of India is strong while being one of the industries that most strongly influence the Indian economy. After the independence of this Asian country and, more specifically, after the reforms carried out in 1991, the financial system was notoriously strengthened. However, since 1991 many things have changed and, at present, the Indian banking system is moving towards the total digitalization of transactions.

Two of the largest banks in this huge emerging economy

  1. The State Bank of India

The State Bank of India

As its name implies, it is a public sector bank, because it is owned by the government of India. Doing a bit of history, let’s note that this bank started as the “Bank of Calcutta”, in 1806, then, becoming the “Imperial Bank of India”, in 1955. A year later, that is, in 1956, it passed to be called “State Bank of India”, at the time it was nationalized.

The State Bank of India

As regards its current location, we have it located in Mumbai, Maharashtra, India of course, although it provides its services throughout the country and, also, in many of the most important cities in the world.

Among the financial products offered by the State Bank of India, we have corporate banking, consumer banking, investment banking, private banking, mortgage loans, credit cards, private equity, securities, savings, asset management, insurance and asset management. Currently, it has about 294,000 employees.

In what has to do with their total assets, they are 27.6 billion INR, that is, rupees. Operating income is 508.5 billion INR, while the share price is SBIN (NSE) INR 326.10 and -3.00 (-0.91%) as of November 15, 2017. Its current president is Rajnish Kumar.

  1. The ICICI Bank

icici bank

On this occasion, it is a private sector bank, which was founded in 1994, in Vadodara (India), which is why it is a relatively new company. The entity that founded it is Industrial Credit and Investment Corporation of India. Its headquarters is also in Mumbai, although it provides services in the most important cities in the world.

In what has to do with the products it offers, we have corporate banking, consumer banking, private banking, investment banking, credit cards, mortgage loans, asset management, personal loans and insurance, among others.

The ICICI Bank

This bank has about 75,000 employees, while it has MK Sharma as its president and Chanda Kochdar as its executive director, since 2009. Its current revenues are 13 billion dollars, while the share price is: ICICIBANK (NSE) INR 315.60 and +1.50 (+ 0.48%) as of November 15, 2017.

The third largest bank in India

  1. The HDFC Bank

The HDFC Bank

It is another public sector company, founded in 1994 and which has its main headquarters in Mumbai, like the previous two. Its service area is restricted to India alone and currently has around 88,000 employees. Its current executive director is Aditya Puri, who has worked for the company since 1994.

Their current income is 743.7 billion INR (rupees), while the net income is 128.2 billion INR. As regards, now, to the quotation of its shares, we have HDFCBANK (NSE) INR 1,799.25 and -310 (-0.17%) to November 15 of this year. Its most important subsidiaries are HDFC Securities and Next Gen Publishing.

Other of the largest banks in this Asian country, we have the Punjab National Bank, the Canara Bank, and the Axis Bank, which actively contribute to the development of one of the most important emerging economies in the world.