5 Richest Banks In India
- SBI is the largest and richest bank in India with assets of $650 billion, it is headquartered in Mumbai
- ICICI, Axis and HDFC are India’s leading private sector banks with combined assets of more than $500 billion
The banking system of India is well capitalised and regulated. RBI (Reserve Bank Of India) plays a major role in it. In digital payment system India came a long way and it accounts for 40% of the world’s total digital transaction. There are 12 public sector and 22 private sector banks in the country. Some of them are richest banks in India that manage combined assets of more than $1 trillion. Here we’ll take a look at 5 richest banks in India:
SBI – $650 Billion
India’s largest bank and world’s 43rd largest bank is SBI (State Bank Of India). This is the oldest bank in India that traces back its origin to 1806. SBI is headquartered in Mumbai. This bank has 24,000 branches in India. Among all Indian banks SBI has largest international presence with its branches in 36 countries.
| Assets | ₹5,177,545 crore ($650 billion) |
| Revenue | ₹406,973 crore ($51 billion) |
| Operating income | ₹78,898 crore ($9.9 billion) |
| Net income | ₹43,774 crore ($5.5 billion) |
| Employees | 2,45,600 |
Total assets under SBI is ₹5,177,545 crore or $650 billion which is twice the Pakistan’s economy. Revenue of this bank stood at ₹406,973 crore or $51 billion in 2022. Operating income stands at ₹78,898 crore or $9.9 billion while net income of SBI is ₹43,774 crore or $5.5 billion in 2022. Nearly 2,50,000 employees works under this bank.
ICICI – $220 Billion
In private sector, ICICI bank is the largest and richest bank with assets of $220 billion. This bank is headquartered in Vadodara, Gujarat. ICICI bank has 5,275 branches all over India. In terms of international presence this bank has its operations in 17 countries. 15,589 ATMs throughout India belongs to this bank.
| Assets | ₹1,752,637 crore ($220 billion) |
| Revenue | ₹157,536 crore ($20 billion) |
| Net Income | ₹25,783 crore ($3.2 billion) |
| Employees | 97,354 |
| Branches | 5,275 |
Assets worth $220 billion are under ICICI bank which translates to ₹1,752,637 crore. Revenue of this bank in the year 2022 stands at ₹157,536 crore or $20 billion while net income were at ₹25,783 crore or $3.2 billion. ICICI bank employs around 98,000 employees.
Read More – 5 Largest Insurance Companies In India
HDFC – $180 Billion
India’s 2nd largest and richest private sector bank is HDFC with assets worth $180 billion. HDFC is one of the leading banks in the world and even got featured in the list of largest banks by market capitalisation in the past. This bank is headquartered in Mumbai. Despite being a private sector bank, HDFC employs 1,50,000 people and this makes it 15th largest employer in India.
| Assets | ₹1,422,934 crore ($180 billion) |
| Revenue | ₹359,695 crore (US$45 billion) |
| Net Income | ₹53,150 crore ($6.7 billion) |
| Employees | 1,52,500 |
| Branches | 6,378 |
HDFC bank has assets worth $180 billion and this translates to ₹1,422,934 crore. As of 2022 the revenue of this bank stands at ₹359,695 crore or US$45 billion. Net income were at ₹53,150 crore or $6.7 billion which makes HDFC the bank with highest profit margin in India. This Bank has 6,378 branches throughout the country.
PNB – $160 Billion
After SBI, PNB is the 2nd largest government owned Bank in India. In the list of India’s richest banks PNB sits at 4th spot with assets worth $160 billion. This bank traces back its origin to 1894 when it was founded. This makes PNB one of the oldest banks in India. With 12,248 branches, 13,000 ATMs this bank is headquartered in Dwarka, Delhi.
| Assets | ₹1,279,725 crore ($160 billion) |
| Revenue | ₹94,990 crore ($12 billion) |
| Net Income | ₹2,152 crore ($270 million) |
| Operating Income | ₹23,670 crore ($3.0 billion) |
| Employees | 1,03,144 |
PNB manages assets worth $160 billion which translates to ₹1,279,725 crore. Revenue of this bank were at ₹94,990 crore or $12 billion as of 2021. Net income of PNB was ₹2,152 crore or $270 million while operating income stood at ₹23,670 crore or $3.0 billion in 2021. This bank employs around 1,03,144 people.
Axis Bank – $150 Billion
Axis Bank is the 5th richest Bank in India formerly known as UTI Bank. This Bank is headquartered in Mumbai. In 1994, then finance minister of India, Manmohan Singh itself inaugurated this bank. Among all other private banks Axis bank has largest network of ATMs in India. In Sikkim, Axis bank operates an ATM at world’s highest site. This bank has a strong network of 12,922 ATMs and 4,096 branches throughout the country.
| Assets | ₹1,195,528 crore ($150 billion) |
| Revenue | ₹86,114 crore ($11 billion) |
| Net income | ₹14,162 crore ($1.8 billion) |
| Operating Income | ₹26,746 crore ($3.3 billion) |
| Employees | 78,300 |
The assets worth $150 billion under Axis bank translates to ₹1,195,528 crore. Revenue of this bank stood at ₹86,114 crore or $11 billion in 2022. Axis bank recorded net income of ₹14,162 crore or $1.8 billion while operating income were at ₹26,746 crore or $3.3 billion. This bank employs around 78,300 employees.
So These Were 5 Richest Banks In India.
