SBI to Central Bank of India: 10 largest banks in India by market cap

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State Bank of India

Market Capitalisation: Rs 272,735 cr

SBI is India's largest bank in terms of market capitalisation, branches (22,414), ATMs, offices, revenue generation and employees (264,041). The bank descends from the Imperial Bank of India, which was formed by merging Bank of Calcutta, Bank of Madras and the Bank of Bombay. The Imperial Bank of India became the State Bank of India in 1955 after Government of India took control of it with Reserve Bank of India taking a 60% stake in it.

In 2008, the government took over the stake held by the Reserve Bank of India. In April-June quarter, the bank reported a standalone net loss of Rs 4,876 crore, as compared to a net profit of Rs. 2,006 crore for the corresponding period in 2017.

ICICI Bank
Market Capitalisation: Rs 212,877 cr

ICICI Bank is India's largest private sector bank with total consolidated assets of Rs 1,124,300 crore on March 31, 2018 and profit after tax of Rs 6,777 crore for the year ended March 31, 2018. ICICI Bank currently has a network of 4,867 branches, 14,367 ATMs and 81,548 employees.

When ICICI started its operations, it was an Indian financial institution that was a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. It was named the Industrial Credit and Investment Corporation of India Bank and later it changed its name to ICICI Bank and then the parent company was merged into the bank.

HDFC Bank
Market Capitalisation: Rs 560,539.70 cr

HDFC Bank is India's second largest private sector lender by assets. Headquartered in Mumbai, HDFC Bank was incorporated in 1994. Deepak Parekh, who headed parent HDFC Ltd. wanted to call the new bank 'Bank of Bombay' because it was the only bank of the 10 new banks set up after the 1991 reforms to have its headquarters in Mumbai.

HDFC Bank went public in 1995. The issue was oversubscribed 55 times and listed at about 40 rupees, 3 times its issue price.
HDFC Bank has posted a net profit of Rs 4,601.4 crore for the June quarter of the current financial year, an increase of 18.2% over Rs 3,893.8 crore profit in the quarter ended June 2017.

Punjab National Bank
Market Capitalisation: Rs 23,478.68 cr

Punjab National Bank commenced its operations on April 12, 1895 from Lahore, with an authorised capital of Rs 2 lakh and working capital of Rs 20,000.

In February 2018, PNB was hit by India's biggest ever fraud of over Rs 14,356.84 crore in which two junior officers at a single branch had illegally issued fraudulent loans to companies, most of them controlled by billionaire jeweller Nirav Modi.
In Q1 FY2019, the bank's focused attention on recovery in bad debts resulted in recovery of more than Rs 8,400 crore and bringing down the Gross NPA ratio to 18.26% in June 18 as compared to 18.38% in March 2018.

Bank of Baroda
Market Capitalisation: Rs 38,452.58 cr

Bank of Baroda was founded by Maharaja Sayajirao Gaekwad in July 1908. It started with a paid up capital of Rs 10 lakh. Bank of Baroda is a pioneer in various customer centric initiatives in the Indian banking sector.

The lender had reported over a two-fold increase in its quarterly profit to Rs 528 crore in the June quarter, compared to Rs 203 crore posted in 2017. Earlier in 2018, Bank of Baroda was forced to shut operations in South Africa after its loans to companies owned by three Indian origin businessmen - brothers, Ajay Gupta, Atul Gupta and Rajesh Gupta - who were considered close to former South Africa president Jacob Zuma, came under the scanner for alleged money laundering. At present, Bank of Baroda selling its subsidiaries in Ghana, and Trinidad and Tobago, is seen as part of a strategy to rationalise international operations.

Axis Bank
Market Capitalisation: Rs 164,359.31 cr

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.

It has 3,779 domestic branches and 12,834 ATMs across the country. The bank also has ten overseas offices with branches at Singapore, Hong Kong, Dubai, Shanghai and Colombo; representative offices at Dubai, Abu Dhabi, Dhaka and Sharjah and an overseas subsidiary at London, UK.
At the end of 2017-18, the bank's balance sheet size was Rs 691,330 crore. Axis Bank has achieved consistent growth and with a 5-year CAGR (2012-13 to 2017-18) of 15% in total assets, 12% in total deposits, 17% in total advances.

Canara Bank
Market Capitalisation: Rs 20,347.54 cr

Canara Bank was founded in July 1906 in Mangalore. Growth of Canara Bank was phenomenal after its nationalisation in 1969. It reported a surprise 11.9% rise in first-quarter of 2018-19 net profit on higher interest income. Canara Bank's net profit was Rs 281.49 crore on a revenue of Rs 1,319.46 crore.

Bank of India
Market Capitalisation: Rs 17,046.33 cr

Bank of India was founded in 1906 in Mumbai and was brought under state control in 1969. Beginning with one office in Mumbai, with a paid-up capital of Rs50 lakh and 50 employees, the bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the bank occupies a premier position among the nationalised banks. BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which helps in cost-effective financial processing and communication services. Bank of India has reported a net profit to Rs 95.11 crore in the first quarter of 2018-19. The bank's net profit was Rs 87.71 crore in 2017-18.

IDBI Bank
Market Capitalisation: Rs 25,296 cr

IDBI Bank Ltd. inherited a rich legacy from its predecessor entity - Industrial Development Bank of India - which was an apex development financial institution in the realm of industry from July 1, 1964 to September 30, 2004. On October 1, 2004, the erstwhile organisation was converted into a banking company, IDBI Ltd, to undertake the entire gamut of banking activities while continuing to play its secular role of financial institution.

The bank posted a net loss of Rs 2,410 crore in the 2018-19 June quarter from Rs 850 crore a year ago. Net interest income rose 16.8% year-on-year to Rs 1,638.62 crore.

Central Bank of India
Market Capitalisation: Rs 17,882 cr

The Mumbai-based bank is one of the oldest and largest commercial banks in India. It has a network of approximately 4,730 branches, over 3,680 ultra-small branches and approximately 5,250 ATMs. It has overseas offices at Nairobi, Hong Kong and a joint venture with Bank of India, Bank of Baroda, and the Zambian government.

The bank offers deposits, loans, agri-banking, cards, e-payment and other services. The bank's net loss widened by 74% to Rs 1,522.54 crore in the June quarter due to more than two-fold spike in provisions for bad loans. The bank had registered a net loss of Rs 576.76 crore in the April-June quarter of 2017-18.