One of the biggest economies in the world is of India. Fortunately for us, the nation’s diverse population is being effectively served by up to 12 public sector and 22 private sector banks. Not only do we have reputable Indian banks, but we also have certain foreign banks. Here is a list of India’s top 5 private banks, according to the RBI. If you’ve been trying to figure out which private bank in India is the best, we’ve put together the perfect list for you. You only need to take a brief look to determine this for yourself!
HDFC Bank Ltd.
According to market capitalization, HDFC Bank is the biggest bank in India. The Mumbai-based HDFC Bank Limited has 5,103 branches and 13,160 ATMs spread over 2,727 Indian cities. In terms of assets, this bank is also India’s largest lender to the private sector. According to AsiaMoney, HDFC Bank is India’s Best Digital Bank. This banking and financial services organisation employs 98,061 people permanently. HDFC’s gross NPA is 1.36 percent.
ICICI Bank Ltd.
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A MNC bank based in India, ICICI Bank Limited has a market value of Rs. 2,66,974 crore. Its head office is in Mumbai, and its registered office is in Vadodara, Gujarat (Maharashtra). In India, ICICI Bank has 14,987 ATMs and 4847 branches. Outside of India, it operates in 16 other nations, with offshore operations in the USA, China, Dubai International Finance Center, Singapore, Bahrain, South Africa, and many other places. The ICICI bank has a gross NPA of 6.7%.
Kotak Mahindra Bank Ltd.
According to market capitalization, Kotak Mahindra Bank is the third-largest private bank in India. Its market capitalization as of 2022 is Rs. 2,83,464 crores. This private bank in India boasts a network of 2,352 ATMs and 1,500 branches. Having been established in February 2003, Kotak Mahindra Bank ranked 245 in the Brand Finance Banking 500 by February 2014. It employs more than 50,000 people across India and generates revenue of Rs. 31,346 crores. Kotak Mahindra Bank’s Gross NPA is 1.9 percent.
Axis Bank Ltd.
The market value of Axis Bank is Rs. 1,76,669 crores. By 2022, Axis Bank ranks as India’s fifth-largest bank overall and fourth-largest private bank. Its headquarters are in Mumbai, and it operates 3,548 cash recyclers, 11,801 ATMs, and 4094 locations throughout India. Axis Bank Limited has more than 78,000 employees and an annual revenue of 56,044 crores. Axis Bank’s gross NPA is 5.25 percent.
Yes Bank Ltd.
With a market capitalization of 34,575 crores rupees, Yes Bank is one of the private banks in India with the quickest rate of growth. Ashok Kapur and Rana Kapoor launched it in 2004. Retail banking and asset management are subsidiary operations of this corporate organisation. It employs more than 23,800 people and generates revenue of Rs. 20,039 crores. Yes Bank Limited has more than 3,419 branches and 1800 ATMs in India.