Banks in India

ABN AMRO India – ABN AMRO commenced operations in India in 1920 when the first branch was opened in Kolkata. In March 2010, ABN AMRO Bank N.V. in India was renamed The Royal Bank of Scotland N.V. in India. RBS subsequently wound down its Indian banking business, and neither name appears on the Reserve Bank of India's current list of foreign banks operating in the country.

Allahabad Bank – One of the oldest joint stock banks in India. It opened its first overseas branch in Hong Kong in 2007, and as of September 30, 2017 it had total assets of INR 2.41 trillion (US$32 billion). Allahabad Bank was amalgamated into Indian Bank on 1 April 2020 as part of the consolidation of India's public sector banks, and no longer operates under its own name.

Andhra Bank was founded in 1923 by the freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya. It opened a representative office in Dubai in 2006 and another at Jersey City (USA) in June 2009. Andhra Bank operated as a public sector bank until 1 April 2020, when it was amalgamated into Union Bank of India together with Corporation Bank.

Abu Dhabi Commercial Bank India (ADCBI) started its business in India in 1980. It has offices in Mumbai and Bangalore. Abu Dhabi Commercial Bank is one of the largest commercial banks in the UAE.

Axis Bank Limited (formerly UTI Bank) was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank has a wide network of approximately 2,590 offices and 12,900 ATMs, one of the largest ATM networks in the country. The Bank's registered office is located in Ahmedabad and its central office in Mumbai.

Bank of India – The 5th largest bank in India with over 5,000 domestic branches and approximately US$100 billion in total assets (September 2017). It also has over 50 offices abroad.

Bank of Baroda – One of the largest banks in India with over 5,400 local and 106 international branches and over 8,000 ATMs. BoB was established in July 1908 by Maharajah of Baroda, Sir Sayajirao Gaekwad III. As of November 25, 2017, it had a market capitalization of US$6.3 billion. Vijaya Bank and Dena Bank were amalgamated into Bank of Baroda on 1 April 2019; the branch, ATM and market capitalization figures above predate that merger.

Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist in July 1906, at Mangalore. Today, Canara Bank occupies a premier positions among the Indian banks. As of June 2015, the company had nearly 5,700 branches and over 8,500 ATMs. Syndicate Bank was amalgamated into Canara Bank on 1 April 2020, enlarging the network beyond those figures.

Central Bank of India is a public sector bank. It has a large network with over 4,695 branches and 4,835 ATMs in 29 States and 6 Union Territories.

Centurion Bank of Punjab was an Indian private-sector bank that provided retail and corporate banking services. In 2008, HDFC Bank acquired Centurion Bank of Punjab.

Citibank India – The Indian arm of Citigroup. Citi's Indian consumer banking business (credit cards, retail banking, wealth management and consumer loans) was sold to Axis Bank in a transaction that completed on 1 March 2023, together with approximately 3,200 employees. Citi's institutional client businesses in India were excluded from the sale, and Citi continues to serve institutional clients in the country.

Corporation Bank was established in 1906. As of March 2015 it operated a network of 2,300 offices and 2,935 ATMs and had total assets of INR 2.260 trillion (US$36.2 billion) and total equity of INR 105.137 billion (US$1.7 billion). It operated as a public sector bank until 1 April 2020, when it was amalgamated into Union Bank of India together with Andhra Bank.

DCB (Development Credit Bank Ltd)

Dena Bank was founded in 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company. It became a public company in December 1939 and later the name was changed to Dena Bank. In July 1969, Dena Bank was nationalized and operated as a public sector bank with total assets of US$21 billion, a network of 1,740 branches and over 1,432 ATMs, and its head office in Mumbai. It was amalgamated into Bank of Baroda on 1 April 2019, together with Vijaya Bank, and its branches now trade as Bank of Baroda.

Deutsche Bank established its first branch in India in 1980. Currently, it employs more than 9,800 people and has offices in 17 cities. DBI has recently launched retail banking in India. It offers a comprehensive array of retail banking products and services from current and savings accounts to salary overdrafts, investment products and loans. As of March 31, 2015, it had total assets of INR 615.972 billion (US$9.85 billion).

ICICI Bank is India's third-largest bank with consolidated assets of over US$150 billion at March 31, 2017. It provides a wide range of financial products and services including loans, deposits, life and general insurance, credit cards, wealth management, online banking and much more.

IDBI Bank– Industrial Development Bank of India.

Indian Bank – One of the big public sector banks in India. With over 2,400 local offices, it employs more than 20,000 people. It also has overseas branches in Colombo, Singapore, and 240 correspondent banks in 70 countries. Allahabad Bank was amalgamated into Indian Bank on 1 April 2020; the office and staff figures above predate that merger.

ING Vysya Bank – A retail and commercial bank with over 550 branches. In April 2015, ING Vysya Bank was acquired by Kotak Mahindra Bank Ltd.

Indian Overseas Bank – A major bank with more than 3,380 domestic branches, six foreign branches and over 3,570 ATMs. IOB was established in February 1937 and is headquartered in Chennai (Madras).

IndusInd Bank Ltd was founded in 1994 and derived its name from the Indus Valley civilisation. The Bank employs over 17,000 people and has a network of over 800 offices and 1,545 ATMs (June 2015) across the country. It also has a representative offices in Dubai, Abu Dhabi and London.

The Federal Bank Ltd – The fourth largest bank in India in terms of capital base. It has over 1,250 branches and 1,485 ATMs nationwide and representative office in Abu Dhabi. The total assets amounted to INR 829.083 billion as of March 2015.

Guardian Souharda Sahakari Bank Niyamita

HDFC Bank was incorporated in August 1994 and is one of India's largest private sector banks. Its parent, the mortgage lender HDFC Limited, was amalgamated into the bank with effect from 1 July 2023, enlarging its balance sheet.

HSBC India provides a wide range of financial services to corporate, commercial and retail customers. It offers lending and deposit products, gold and classic credit cards, debit cards, insurance, asset management, treasury and capital markets services and more.

Maharshtra Bank was founded on September 16, 1935. With a network of 1,880 offices at the end of March 2015, it has a presence in 29 states and 4 UTs including Arunachal Pradesh, Sikkim and Meghalaya. The Bank has the largest network of branches by any public sector bank in the state of Maharashtra. Its total assets reached Rs.1.461 trillion in 2015.

Mandvi Bank – Mandvi was acquired by Saraswat Cooperative Bank in 2006.

Oriental Bank of Commerce (OBC) – OBC was established on February 19, 1943 in Lahore and was nationalized in 1980. On 14 August 2004, Global Trust Bank Limited (GTB), a private sector bank, was amalgamated into OBC. OBC itself was amalgamated into Punjab National Bank, along with United Bank of India, on 1 April 2020.

Punjab National Bank (PNB) was established in 1895 at Lahore in undivided India. It was nationalized in July 1969 along with 13 other banks. PNB has one of the largest branch networks in the country consisting of approximately 6,950 branches and 9,800 ATMs. Oriental Bank of Commerce and United Bank of India were amalgamated into PNB on 1 April 2020, enlarging the network beyond the figures above.

Punjab & Maharashtra Co-operative Bank – PMC Bank commenced operations on 13 February 1984 and was granted scheduled status on 29 January 2000. Following the discovery of large-scale fraud in 2019 the bank was placed under Reserve Bank of India directions, and on 25 January 2022 it was amalgamated into Unity Small Finance Bank.

Standard Chartered Bank – The Chartered Bank opened its first overseas branch in India, at Kolkata, on 12 April 1858. Today the Bank's branches in India are directed and administered from Mumbai (Bombay) with Kolkata remaining an important trading and banking centre.

South Indian Bank (SIB) – SIB is a private sector bank headquartered at Thrissur in Kerala. It has 822 branches and 1,200 ATMs across more than 26 states and union territories in India. South Indian Bank was formed on the 29th January 1929 by a group of 44 enterprising men.

State Bank of Hyderabad – An associate bank of the State Bank of India, authorized to conduct government business. It was merged into SBI on 1 April 2017, along with the other remaining associate banks.

Saraswat Bank

State Bank of India (SBI) – The largest commercial bank in India by assets, deposits and customers as well as one of the top 20 banks in Asia. With over 24,000 branches, it has the largest branch network in India. It also has over 190 offices in 36 other countries, including multiple locations in the U.S., Canada, UK and Nigeria.

State Bank of Saurashtra was a wholly owned associate bank of the State Bank of India (SBI). It merged with SBI in 2008.

Syndicate Bank – One of the oldest and major commercial banks of India. It was originally incorporated in 1925 as Canara Industrial and Banking Syndicate with its head office in Udipi, Karnataka. It was renamed as Syndicate Bank with effect from January 1, 1964, and the head office was shifted to Manipal, Karnataka on April 19, 1964. The Bank, along with 13 major commercial banks of India, was nationalized on 19 July 1969. As of March 2015, it had over 3,550 offices spread over 23 states and four union territories. Syndicate Bank was amalgamated into Canara Bank on 1 April 2020 and no longer operates under its own name.

UCO Bank – A commercial bank in India with 3,020 domestic branches, 2 branches in Singapore, and 2 branches in Hong Kong. The company employs about 25,230 people.

Union Bank of India is a commercial bank established in 1919 and is headquartered in Mumbai. Andhra Bank and Corporation Bank were amalgamated into Union Bank of India on 1 April 2020.

Vijaya Bank was established in 1931 and was headquartered in Bengaluru. It had the highest number of branches in its home state Karnataka. It was amalgamated into Bank of Baroda on 1 April 2019, together with Dena Bank.

YES Bank – A private sector commercial bank established in 2003 and headquartered in Mumbai. Sumitomo Mitsui Banking Corporation completed the acquisition of a 20% stake in September 2025 and has agreed to acquire a further 4.2%, which would take its holding to 24.2%.

The Largest Banks in India (2015)

The ranking above reflects balance sheets at March 31, 2015 and predates the consolidation of India's public sector banks. Six of the banks listed no longer exist as separate institutions: Vijaya Bank was amalgamated into Bank of Baroda on 1 April 2019, and on 1 April 2020 Syndicate Bank was amalgamated into Canara Bank, Andhra Bank and Corporation Bank into Union Bank of India, Allahabad Bank into Indian Bank, and Oriental Bank of Commerce into Punjab National Bank. Citibank India sold its consumer banking business to Axis Bank in a sale that completed on 1 March 2023, and HDFC Bank absorbed its parent HDFC Limited with effect from 1 July 2023.