Top 10 Banks in India: Best Banks for 2025

From providing credit facilities to business organizations, the Indian banking system is a cornerstone of the economy. It is a vibrant and heterogeneous industry that significantly contributes to the economy. Following is an analysis on the top 10 banks in India based on their market capitalization as of January 6th, 2025.

Top 10 Banks in India 2025

1. HDFC Bank

One of HDFC Bank’s key competencies is the wide range of services they offer. Their service spectrum includes various facets of banking like loans, investments, and even insurance. Such trusted banking institutions strive to meet the expectations of their clientele with the best products and services that the banking industry has to offer.

• The total income was 72.77KCr
• The income earned by HDFC Bank amounted to 17.83KCr.
• The NIM annualized as of now stands at 3.65%.
• The NIM ratio at CASA stands at 38.18%.
• The percentage of GNPA was 1.24%.

Since its founding in 1994, HDFC Bank has been one of the most prominent banks in the Indian credit sector. It is India’s largest private bank and its systemically important bank and has over 5,400 branches across 2,800 towns and cities.

The clientele of this establishment exceeds 56 million, making it a clear favorite among Indian nationals. The company is also well-known for having one of the best all-around retail sectors in the market. HDFC Bank’s market capitalization is currently 1,308,244,37 crore in INR which is a staggering number.

2. ICICI Bank

ICICI Bank is a market leader when it comes to business banking solutions.

• The annual revenue is 44.83KCr.
• The company reports a net income of 11.7KCr. 
• For the quarter, the net interest margin stood at 4.36%.
• CASA reported at 2.17 last quarter.
• The sum of known gross non-performing assets is equivalent to 2.15 percent of total assets.

ICICI Bank is one of the top banks in India and is located in Mumbai, Maharashtra. The bank has an extensive network of over 6,000 branches and 17,000 ATMs throughout India and services customers in 17 other countries. Besides retail and corporate banking, ICICI provides a myriad of financial services for both individuals and businesses. These include investment banking, insurance products, venture capital funding, and asset management. The bank stands as one of the top 10 banks in India with a market cap of 892,390.17 Crore INR.

3. State Bank of India

SBI, State Bank of India, is one of the top financial houses in India. 

• Revenue – 76.02KCr
• The net profit of the company for the period stands at 19.32KCr.
• The Net Interest Margin percentage currently stand at 3.47%.
• CASA has the highest proportion with 39.89%.
• The Gross Non-Performing Assets (NPA) ratio is at 2.24%.

The State Bank of India, a market leader amongst Indian public sector banks, has a 23% share of India’s economy. The bank is headquartered in Mumbai and is known for its efficient and extensive retail banking services across the country, both in rural and urban areas. The bank also serves its customers by providing treasury services. 

Being the largest public sector bank, SBI employs more than 200,000 people , making it the 10th largest employer in India. Recently, it has been ranked on the Fortune Global 500 list and the Forbes Global 2000 list as one of the biggest companies in the world. In 2020, SBI was the only Indian bank listed on the Fortune Global 500, and as of 2023, it ranked 77 on the Forbes list of Global 2000. 

In the last quarter of the fiscal year 2023-2024, SBI’s net profit stood at 39,815 Crore INR, the highest among all public sector banks. Currently, SBI’s market capitalization stands at 692,907.50 Crore INR. 

4. Kotak Mahindra Bank

Kotak Mahindra is a Bank which operates in Indian territories.

• The bank’s revenue for the period was 18.85 KCR.
• The net income for this period is 5.04KCr.
• The NIM for the quarter stands at 4.9%. 
• CASA percentage is at this point at 0.00%.
• The non-performing assets (NPA) remains unchanged at 1.39%. 

Kotak Mahindra Bank is one of the foremost private sector best banks in India well known for its innovative approach to finance and customer services. It market covers a lot of area which enables it to provide different categories of banking and finance services to people and companies. Mumbai is the central address of the bank which operates more than 1600 branches and 2500 ATMs across the country. Market data shows that as of now, the estimated market capitalization is 353,825.33 Crore INR.

5. Axis Bank

• Revenue generated for this fiscal was 19.31KCr. 
• The reported net income for this period is 7.4KCr. 
• The NIM is 3.99%. 
• Casa percentage accounts for 42.98%. 
• The gross non-performing assets are presently at 1.43%. 

Axis Bank was founded in 1993, with an aim to serve the customer’s needs, Axis Bank has become an institution of its own with valuable products. The bank has 4,000 branches and 12,000 ATMs to serve the customers which helps facilitate the public with banking services all over the country. 

India’s one of the largest bank with respect to the market cap as of now is valued at 329,140.54 Crore INR. Radar Scan

6. Bank of Baroda

Bank of Baroda is a renowned financial institution and its reputaion keeps increasing in the market one step at a time. 

• The revenue reported is 14.78KCr. 
• The net income for the period was 4.73KCr.
•  It is important to mention that NIM is at 3.14%. 
• CASA has a 38.76% interest. 

Bank of Baroda’s Vadodara branch is among the top best banks in India. Planning a romantic Friday? Explore options with online solutions. Discover how Treasure-Valley Care can enhance your evening. Whether generic options or name brands, choices are available. Enjoy confidence and a memorable night. It was founded in 1908 by Sayajirao Gaekwad III set to Maharaja of Baroda and is one of the most recognized institutions, serving as the second largest public bank in the country. 

Bank of Baroda serves as an international entity with a plethora of network outlets spread across India and other countries. With a reach across more than 25 countries, the bank claims its position as one of the top ten banks in India, operating more than 9600 branches and 10000 ATMs. 

The bank serves both corporate and retail clients and offers a wide array of banking and financial services. Additionally, as per the report from the the stock market exchange, Bank of Baroda’s market cap is at 117,886.37 Crores INR. 

7. Punjab National Bank (PNB)

Punjab National Bank is widely known as PNB.

• The total revenue for the year is INR 1332.0 Crore.
• The total revenue for the year is 3.98 KCr.
• NIM means ‘Net Interest Margin’ which is equal to 3.11%.
• The percentage of CASA is 40.33%.
• The total of GNPAP or ‘Gross Non Performing Assets’ is now 5.73%.

Punjab National Bank (PNB), established on 12th May 1894, is one of the largest public sector banks in India. PNB has operated for more than 125 years which is a key factor in it being a market leader and a unified success in the sector. PNB has around 13500 ATMs, and it operates through 12248 banking channels with its customer base approaching 18 crores. Besides, PNB is also one of the two major nationalized banks in India.

In addition, PNB is not just a bank that serves the south Asian region. PNB also has branches in Dubai, Hong Kong and Kabul. Its head offices are situated at Almaty, Dubai, Shanghai, Oslo and Sydney. In addition, PNB owns banks in Nepal, Bhutan and Kazakhstan.

The mission of achieving financial Inclusion globally, is what Emfinbi claims to be working towards. Right below the top five mega banks is SBI, with a market cap of INR 116,929.20 Crore, placing them as the seventh biggest bank in the world by market cap.

8. IndusInd Bank

Customer service and banking solutions at IndusInd Bank are some of the exceptional ones in the industry.  

• 6.8KCr is the revenue for this quarter.   
• The net income stands at 2.17KCr.    
• The rate for NIM is 4.25%.   
• The percentage for CASA is 37.91.   
• The gross non-performing asset (NPA) stands at 1.92.  

Srichand P. Hinduja founded IndusInd Bank in 1994 and currently has over 38 million customers. The bank has 2,728 branches and approximately 2,939 ATMs all over the country, which enables it to serve its customers effectively.   

The bank’s strategy for international growth included a sponsorship deal with ICC to sponsor men’s cricket in 2023. As for the merger, IndusInd Bank bought out Bharat Financial Inclusion Limited in 2017 for ₹15,000 crore and completed the merger in 2019.

Back in April of 2024, IndusInd Bank collaborated with Circularity Innovation Hub India Private Limited (CIH) to initiate a pilot project on the Reserve Bank of India’s programmable Central Bank Digital Currency (CBDC). The pilot aimed at distributing the digital currency to farmers in Maharashtra via collaborators like Hindustan Agro to encourage carbon credit earning sustainable agricultural practices. Subsequently, the bank hopes to scale this project across the country to support larger farming and environmental goals. 

In the last quarter of FY 2024, IndusInd Bank was able to record a substantial increase in net profit. The figure of net profit grew by 15 percent and the net profit came out at ₹2,349 crore as against ₹2,043 crore during the last quarter of previous year. This indicates strong financial health of the bank. In addition, market data from the stock exchange shows that its market capitalization is at ₹75,571.91 crore INR as of now.

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9. Indian Overseas Bank (IOB)

IOB is the commonly used abbreviation for Indian Overseas Bank, one of the leading banks in India. 

• For the current quarter, total revenue stood at 3.03KCr. 
• Net Income for the quarter is reported at 779.62Cr. 
• Net interest margin (NIM) increased to 3.28 percent. 
• CASA stands at 43.90%.
• Gross non-performing assets (NPA) stand currently at 2.72%. 

Indian Overseas Bank (IOB) was established in 1937 and is one of the largest public sector banks headquartered at Chennai. It was initially established to carry out functions pertaining to foreign exchange and overseas banking services.

Currently, IOB provides a large portfolio of financial services to individuals, businesses and corporations, which includes personal and corporate banking, and loans for housing, automobiles, and education.

On March 31, 2024, IOB reported a net profit of 2,665.66 Crore, which is an increase of 24% from the preceding year. For the first time, the bank reported a net operating profit of 1,961 crore along with an operating revenue of 9,112.67 crore. These figures represent the bank’s strong financial standing as well as operational effectiveness. Further, these numbers suggest that the bank’s profits are increasing consistently, which will help in future expansion efforts. Currently, its market cap is at 95,816.33 Crore INR. 

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On the 23rd of October 2024, the financial results of Indian Overseas Bank were spectacular. The bank achieved cumulative profits of Rs. 777 crore for the quarter, which represents a 24% higher profit than the previously recorded Rs. 625 profits per crore attributed to the last fiscal year. There was a surge in interest generated earnings to Rs. 6851 crore and new customer acquisitions which contributed the most towards profit growth.

IOB is still advancing as one of the main participants in the banking scene in India, helping in improving economic productivity and financial infrastructure for every citizen of the India. IOB continues to be a trusted banking partner for many Indians with varied banking needs.

10. Canara Bank

Another public sector CB or Canara Bank is one of the leading banks operating in India.

• For this quarter the revenue is set at 15.15KCr.
• Net income is reported as 4.07KCr.
• With the current value standing at 3.05%, NABERS rate is at 3.05%.
• With respect to CASA, the percentage now stands at 35.00%.
• In our current financial position, the gross non performing assets ratio is accounted at 4.23%.

Canara Bank was founded in 1906 in Mangalore, and today it is one of the leading public sector banks in India. The bank’s core office is located in Bangalore, where it oversees its more than 8,500 branches, and 10,000 ATMs across the country. Canara Bank is also expanding internationally and has offices in multiple countries. The bank offers a wide range of services and products to meet the different requirements of customers. The bank’s market value, which is around 88,284.65 Crore INR, along with its business operations, reflects its strong financial position. Canara Bank is known as one of the best banks in the country due to its extensive network, comprehensive range of services, and supportive financial structure.

Conclusion 

The Indian Banking sector is very important for the economy of the country, as it has a direct impact on business, trade, and finance. The top 10 banks in India have profoundly shaped the Indian banking system.

The future of our country heavily relies on the banking sector. The market is now changing rapidly with the growth of private banks in addition to established public banks. The future of Indian banking is bright, but technology will have to be an important factor. Indian banking may benefit from the use of data science to predict customer needs and improve services.

FAQs – Top 10 Best  Banks in India