Biggest Banks in India refer to the leading financial institutions in the country based on total assets, customer base, and national reach. This bank plays a key role in India’s economy by offering a wide range of services, including savings, loans, business banking, and digital payments. It supports both individual and corporate customers and contributes to the growth of various sectors through lending and financial inclusion.
Besides, the biggest bank has a decent number of branches and ATMs spread over cities, towns, and villages that provide a banking interface to millions of people. It is known for its wide reach, secure systems, and trusted reputation in the Indian banking sector.
Check complete details about the Biggest Banks in India, Top 10 Biggest Banks in India Based on Market Cap, and more below.
Biggest Banks in India
Biggest Banks in India by total assets, number of branches, and customer base are the State Bank of India (SBI). It is a public sector bank, formed in 1955 after the nationalization of the Imperial Bank of India. Headquartered in Mumbai, SBI has a large presence across the country and in over 30 other nations.
As of March 2025, SBI’s total assets are valued at ₹74.728 trillion, based on official financial reports. Total assets include all cash, properties, investments, and other valuable resources owned by the bank.
SBI offers a wide range of banking services, such as retail banking, corporate banking, wealth management, and digital banking. It also helps run major government financial schemes and promotes financial inclusion in rural and remote areas of India.
In comparison, HDFC Bank is the largest private sector bank in India, known for having the highest market capitalization, estimated at around $165 billion.
Top 10 Biggest Banks in India Based on Market Cap
Market Capitalization (Market Cap) is the total value of a company’s shares in the stock market. It reflects the bank’s size and market strength. Based on the latest verified data, here are the top 10 biggest banks in India by market cap, including both private and public sector banks.
1. HDFC Bank
HDFC Bank is India’s largest bank by market capitalization and a global leader in private banking. After its merger with HDFC Ltd., its value rose significantly, making it a dominant name in both Indian and international banking. The bank is known for its strong focus on digital innovation, customer service, and retail banking.
It provides services such as credit cards, home loans, corporate banking, and digital finance. HDFC Bank has a reputation for excellent asset quality, low non-performing assets (NPAs), and consistent profitability, making it a preferred bank for both customers and investors.
2. ICICI Bank
ICICI Bank is India’s second-largest private sector bank by market capitalization. It offers a wide range of financial products, including retail banking, corporate loans, investment banking, insurance, and digital services.
The bank has been a leader in digital banking and financial technology, offering platforms like iMobile and Internet Banking. Its strong growth in deposits, consistent profits, and a focus on improving asset quality have helped it maintain a solid position in India’s banking sector.
3. State Bank of India (SBI)
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Market Cap: $91 billion
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Type: Public Sector Bank
State Bank of India is the largest government-owned bank in India. With the widest network of branches and ATMs across the country, it plays a vital role in government welfare schemes, rural development, and public sector financing. SBI provides a full range of banking services, including personal loans, business loans, treasury services, and wealth management.
Despite being a public bank, it has made strong progress in digital banking and financial inclusion. Its large asset base and government backing make it the backbone of India’s banking infrastructure.
4. Kotak Mahindra Bank
Kotak Mahindra Bank is one of India’s top private sector banks, known for its conservative approach and focus on high-quality assets. It offers personal banking, investment banking, life insurance, and wealth management services.
The bank’s strategy emphasizes risk management, strong customer relationships, and steady growth. Its increasing digital presence and efficient capital use have helped it attract premium customers and maintain a healthy financial profile in a competitive market.
5. Axis Bank
By market value, Axis Bank is the third-largest private bank in India. The banking services it provides are retail banking, SME funding, credit card services, wealth management, and forex.
Axis Bank often boasts the fastest-growing customer base that heavily invests in digital transformation, alongside technology-based solutions that aim to increase operational efficiency and enhance customer experience. Its efforts in expanding the loan portfolio and maintaining balance sheet quality have contributed to its continued rise.
6. Bank of Baroda (BoB)
Bank of Baroda is an important public-sector bank in India with a significant presence internationally. It offers banking services in the personal, corporate, and international segments. The bank has ventured a lot into digital banking and, more recently, underwent consolidation with other public sector banks to achieve simplicity of scale.
The bank provides support in government financial inclusion schemes and also is one of the key banks for foreign exchange and global trade finance. With a diversified loan book and improving performance, BoB continues to be an efficient PSU bank.
7. Punjab National Bank (PNB)
Punjab National Bank is the second-largest public sector bank in India after SBI. It provides services across personal, corporate, and agricultural finance. PNB is deeply involved in priority sector lending, including MSME (Micro, Small, and Medium Enterprises) and farm loans.
Over the years, PNB has focused on improving its asset quality by reducing NPAs and implementing digital solutions. It also has a strong branch presence across India, which makes it a key player in government banking operations.
8. Union Bank of India
Union Bank of India is a well-established government-owned bank that gained size and strength after merging with Andhra Bank and Corporation Bank. It offers a wide variety of services, including savings accounts, retail and business loans, digital banking, and insurance. The bank has worked to improve its operational efficiency, reduce bad loans, and expand its digital presence. With strong government backing and increased scale, Union Bank is now a major player in India’s public sector banking system.
9. Canara Bank
Canara Bank is one of the oldest and most trusted public sector banks in India. Following its merger with Syndicate Bank, it expanded its reach and operational capacity. Canara Bank provides retail banking, corporate finance, NRI services, and life insurance.
The bank has focused on adopting new technologies, reducing operational costs, and strengthening its financial health. With a broad customer base and a strong physical and digital network, Canara Bank continues to hold a significant position in the Indian banking sector.
10. Indian Overseas Bank (IOB)
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Market Cap: $8.7 billion
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Type: Public Sector Bank
Indian Overseas Bank is a state-owned scheduled commercial bank, important in providing financial inclusion and rural banking. It is also known that it promotes the priority areas that include agriculture, education, and small enterprises.
OB has been putting its financial situation in order by clearing up its bad loans and increasing its online services. Since it has a strong customer base in South India and an ever-rising digital banking plan, IOB is emerging as more competitive in the public banking sector.
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