India’s largest lender the State Bank of India (SBI) followed by HDFC Bank and ICICI Bank are the top banks of India, according to ICRA (Investment Information and Credit Rating Agency).
ICRA ranked the banks as per their credit ratings. These ratings and the rankings given to the lenders can help the investors in maximising their returns along with better saving options.
List of top 10 banks in India: ICRA
- State Bank of India (SBI)
This Mumbai headquartered lender is termed as the largest bank in India after its amalgamation with five of its associates and Bharatiya Mahila Bank. This Public Sector Lender (PSB) is ranked 216th in the Fortune Global 500 list of the world’s biggest corporations of 2018.
ICRA Rating: Long-term rating AAA
- HDFC Bank
Established in 1994 as Housing Development Finance Corporation and now known as HDFC Bank is the top private sector lender of the country. In India, it is headquartered in Mumbai, Maharashtra and has its operations spread across Bahrain, Hong Kong, Dubai and more. It is India’s largest lender in terms of assets.
ICRA Rating: Long-term rating AAA
- ICICI Bank
ICICI Bank is India second largest public sector lender. Its headquarters is in Mumbai, Maharashtra and its registered office is in Vadodara, Gujarat. Its operations are spread across UK and Canada and branches in the US, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa. (Photo: PTI)
ICRA Rating: Long-term rating AAA
- Axis Bank
Axis Bank offers a comprehensive range of financial products and termed as the third-largest of the private-sector banks in India. The bank has its head office in Mumbai, Maharashtra. It has nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai, Colombo and representative offices at Dhaka, Dubai, Sharjah and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment banking and liability businesses.
ICRA Rating: Long-term rating AAA
- YES Bank
Founded by Rana Kapur and Ashok Kapur, Yes Bank is termed as India’s fourth largest private sector lender. Its primarily operates in corporate banking but also offer services in retail banking with asset management as its subsidiary operation.
ICRA Rating: Long-term rating AA-
Outlook: Stable
