Top 10 Biggest Banks In India In Terms of Revenue 2021: Banks are the most important organization in the modern economy and in developing countries like India they are the primary supplier of money. From individuals to the big business everyone needs banks for their transactions and other monetary needs. So In this article, we are going to List Top 10 Biggest Banks In India In Terms of Revenue.

1. State Bank of India

State Bank of India is a public sector banking and financial services company and a statutory body headquartered in Mumbai, Maharashtra. SBI is India’s biggest bank in terms of revenue and ranked 221st in the Fortune Global 500 list of 2020, and it is the only Indian bank on the list.

SBI’s revenue in the financial year 2020 stands at ₹368,010 crores, making it the largest Indian bank in terms of total revenue. SBI has more than 24000 branches in India across various cities. Recently SBI acquired 48.2% of the shares of Yes Bank as a part of a rescue deal.

2. ICICI Bank

ICICI Bank Limited is the second biggest bank in India in terms of revenue and it is the biggest private bank with the same criteria. It is a registered office in Vadodara, Gujarat, and a corporate office in Mumbai, Maharashtra. The bank offers a wide variety of banking and financial services for corporate and retail customers.

The bank has 5,275 branches and 15,589 ATMs across India and has a presence in 17 foreign countries. ICICI Bank offers products and services like online fund transfers, tracking services, current accounts, savings accounts, term deposits, mortgages, loans, automated lockers, credit cards, prepaid cards, and many more.

3. HDFC Bank

HDFC bank is the most profitable bank and revenue-wise the third biggest bank in India.  Incorporated in 1994, it is a subsidiary of the Housing Development Finance Corporation (HDFC).  The bank has a registered office in Mumbai, Maharashtra, India.

As of 2020, HDFC Bank has more than 5,500 branches across various cities. HDFC Bank offers various products and services like corporate banking, retail banking, treasury, auto loans, two-wheeler loans, personal loans, LAS, consumer durable loans, lifestyle loans, and credit cards.

4. Bank of Baroda

Being a public sector bank Bank of Baroda is one of the biggest banks in India. In the year 2020, its revenue clocks at ₹91,086 cr, which is quite impressive. The bank was founded on 20 July 1908 by Sayajirao Gaekwad III. The government of India owns 71.60% of the bank.

Bank of Baroda merged with Vijaya Bank and Dena Bank on September 17, 2018, making it the third-biggest lender in India. Like other Indian banks, it provides all the essential banking products and financial services.

5. Axis Bank

Axis bank is one of the biggest private banks in India, 30.81% of the bank is owned by promoters like United India Insurance Company Limited, New India Assurance Company Ltd, GIC, LIC, Oriental Insurance Company Limited, National Insurance Company Limited, and UTI. The bank was founded in 1993 as UTI bank.

The bank’s revenue clocks at ₹80,057 crores, making it one of the biggest banks in India in terms of revenue. The bank has a good domestic as well as international presence and provides all the essential banking and financial services.

6. Punjab National Bank

Founded in 1894, Punjab National Bank, also known as PNB is the sixth-largest bank in terms of revenue, clocking around ₹64,306 crores in the financial year 2020. PNB has more than 10,910 branches and near about 180 million customers.

On 1st April 2020, Punjab national bank was merged with the United Bank of India and Oriental Bank of Commerce. The government of India owns around 83.2% of PNB and it has more than 70,810 employees. Pnb has registered offices in Almaty, Kazakhstan, Dubai, United Arab Emirates, Shanghai, China, Oslo, Norway, and Sydney, Australia.

7. Canara Bank

Headquartered in Bengaluru, Canara Bank is one of the largest banks in India in terms of revenue, as its revenue stands at ₹61,558 crores. The bank was founded in 1910 and nationalised in 1969. The bank was merged with Syndicate Bank on 1 April 2020, making it the 4th largest public sector bank in India.

Canara Bank has foreign offices in London, Hong Kong, Moscow, Shanghai, Dubai, Tanzania, and New York. The bank provides all the necessary banking and financial services.

8. Kotak Mahindra Bank

Founded by Uday Kotak in February 2003, Kotak Mahindra Bank is one of the leading banking and financial services companies in India. The company’s revenue stands at ₹50,366 crores, making it one of the biggest banks in India in terms of revenue.

The bank provides services like personal finance, investment banking, life insurance, and wealth management. In the year 2015, Kotak Bank acquired ING Vysya Bank and has more than 40,000 employees. the bank is well known for its service quality and recognised among the top private banks in India.

9. Bank of India

Bank of India (BOI), owned by the government of India, having headquarters in Bandra Kurla Complex, Mumbai is one of the biggest banks in India in terms of revenue. The bank was founded in 1906 and nationalised in 1969.

Bank of India has nearly 5,316 branches and 56 offices in foreign. Bank of India is also a founding member of the SWIFT system to facilitates the prerequisite of cost-effective financial processing.

10. Union Bank of India

Union Bank of India is one of the biggest banks in India in terms of revenue, clocking around ₹43,268 crores. The bank is owned by the government of India. On April 1, 2020, Union Bank of India merged with Andhrabank and Corporation bank.

Union Bank was founded on 11 November 1919 and inaugurated by Mahatma Gandhi. Post-merger Union bank becomes the fifth largest public sector bank in India.

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