Top 10 Private Sector Banks in India | List of Best Private Banks 2018:
Private sector banks in India have created a huge market capitalization and the top banks have created a total wealth of approximately 5 lakh crores. RBI has approved 12 new banks in the last twenty years, out of which 7 have come out as leading private sector Banks. In fact, these private Banks seem to perform better than the Government Banks. While Government Banks depend on funds from the Government, Private sector banks, on the other hand, have used the RBI issues policies by attracting customers to open savings accounts that provide interest. Apart from budding competition and poaching employees, private sector Banks will continue to grow at a good rate.
There are several private sector banks in India. However the below list of private sector banks are performing their best in India.
Top 10 Private Sector Banks in India | List of Best Private Banks 2018:
Top 10 Private Banks in India No.1 - HDFC Bank:
HDFC (Housing Development Finance Corporation) is one of the top private sector banks in India. It was established in the year 1994 and is the first to receive approval from the RBI. It offers Personal banking, Credit cards, Insurance, Loans, Investments, Demat and Forex along with SME, Retail, Corporate and wholesale banking services. It has two subsidiaries, HDB Financial Services Limited which provides loans to individuals and companies and the other is HDFC Securities Limited which is a Stock broking company. HDFC holds a position in Top 50 based on market capitalization.
Revenue: INR 27, 471 Crore
Net profit: INR 5,990 Crore
Total no. Of employees: 76, 286
Headquarters: Mumbai
Website: http://www.hdfcbank.com/
ICICI (Industrial Credit and Investment Corporation of India) is one of the largest multinational banks in India. It was founded in the year 1994 as an Indian subsidiary. Its parent company was founded in the year 1955 as part of the World Bank to provide capitalization to the Indian industry. The parent bank and the subsidiary were later merged and are now ICICI Bank Limited. It has 2 subsidiaries, one in Canada and the other in the UK. It has branches all over the world like US, Qatar, Sri Lanka, Dubai, Bahrain, Singapore, Oman, Hong Kong and China. It provides everyday banking solutions along with provides loans, credit cards, Investments, Smart vaults and Forex.
Revenue: INR 13, 088.20 million
Net profit: INR 2,173 million
Total no. Of employees: 67, 857
Headquarters: Mumbai
Website: http://www.icicibank.com/
Top 10 Private Banks in India No.3 - Axis Bank:
Axis bank is the third largest private sector bank in India and was established in the year 1994. Currently, there are 2589 branches and 12, 355 ATM’s in India. The Bank opened a subsidiary in the UK and has branches in Colombo, Shangai, Dubai, Abu Dhabi, Singapore and Hong Kong. It provides several financial and banking solutions like Agriculture banking, Advisory services, and Treasury Operations along with personal, business and corporate banking.
Revenue: INR 438, 436, 435 thousand
Net profit: 73, 578, 223 thousand
Total no. Of employees: 42, 420
Headquarters: Mumbai
Website: www.axisbank.com/
Top 10 Private Banks in India No.4 - HDFC Bank:Kotak Mahindra Bank:
Kotak Mahindra Finance Limited began its operations in the year 1985. It later converted into Kotak Mahindra Bank in 2003. It has 641 branches in India and merged with ING Vysya Bank in 2014. It is the first finance company that was given approval by RBI to convert into a Bank. The Bank was awarded “Most imminent Bank 2014” by Outlook Money and “Best Bank in 2014” by Business India. It provides all financial and banking solutions with branches all over India.
Revenue: INR 21, 471.08 crore
Net profit: 3, 065.08 crore
Total no. Of employees: 29,000
Headquarters: Mumbai
Website: http://www.kotak.com/
Top 10 Private Banks in India No.5 - IndusInd Bank:
IndusInd Bank was found in the year 1994. It is one of the first banks to provide mobile ATM’s in India. The bank offers several services like Personal banking, NRI Banking, Loans, Corporate Banking and Credit cards. IndusInd Bank was awarded “The Best Bank 2015” by Business India.
Revenue: INR 120, 958, 372 thousand
Net profit: INR 44, 170,493 thousand
Total no. Of employees: 15, 590
Headquarters: Mumbai
Website: http://www.indusind.com/
Top 10 Private Banks in India No.6 - Yes Bank:
YES Bank was found in the year 2004 and is one among the largest private sector banks in India. It provides products and services such as Agri-Finance, Channel finance, Healthcare finance, Commercial vehicle finance, Trade finance along with personal banking, corporate banking, Tax Solutions, Retail banking, Forex and Locker services.
Revenue: INR 136, 184, 616 thousand
Net profit: INR 52, 128, 176 thousand
Total no. Of employees: 12, 590
Headquarters: Mumbai
Website: www.yesbank.in
Top 10 Private Banks in India No.7 - Federal Bank:
Federal Bank is one of the top most commercial private sector Bank in India. It was founded in the year 1949 and today it has 1251 branches all over India. During the year 2013, the Bank started digital banking operations for its customers and is the first Bank to do so in India. In 2015, it realized an app that can be used to open a Bank account whereby anyone in India with an Aadhar card or PAN card can open a Savings account. It provides several financial and banking solutions to various sectors in India.
Revenue: INR 83, 633, 150 thousand
Net profit: INR 10, 120, 921 thousand
Total no. Of employees: 10, 126 approx.
Headquarters: Bangalore
Website: http://www.federalbank.co.in/
Top 10 Private Banks in India No.8 - Karur Vysya Bank:
Karur Vysya Bank known as KVB was founded in the year 1916. Originally the Bank was operating only in Karur, now it has 657 branches all over India. It provides services like multicity account facility, Net bank, Any branch banking, NRI banking, Trading facility, Life insurance, Mutual funds, Loan products along with day-to-day banking services.
Revenue: INR 53,958,754 thousand
Net profit: 4, 958, 245 thousand
Total no. Of employees: 7,071
Headquarters: Karur, Tamil Nadu
Website: www.kvb.co.in
Top 10 Private Banks in India No.9 - Jammu and Kashmir Bank:
The bank was founded in the year 1938 and was named Maharaja Jammu and Kashmir, Hari Singh. Initial investors became the directors and the stakeholders. During the partition, of the ten branches two branches along with assets were taken by the other side. It is the only bank that carries out banking for the Central Bank as well as tax collection. Its branches are located throughout India and it provides all banking services.
Revenue: INR 71, 602, 158 thousand
Net profit: INR 11, 810, 798 thousand
Total no. of employees: Above 10,000
Headquarters: Srinagar, Jammu and Kashmir
Website: http://www.jkbank.net/
Top 10 Private Banks in India No.10 - Dhanlaxmi Bank:
Founded in the year 1927, Dhanalakshmi Bank later changed as Dhanlaxmi Bank in 2010, is one of the top commercial private sector Bank. It provides various banking services like Investment Banking, Mortgage, Commercial Banking, Retail Banking, Private Banking, Credit cards, Loans, and Demat.
Revenue: INR 136, 854
Net profit: INR 1, 658
Headquarters: Thrissur, Kerala
Website: www.dhanbank.com
Hope you like the list of top 10 private sector banks in India. Please let me know if you would like to add anything else.
Hope you like the list of top 10 private sector banks in India. Please let me know if you would like to add anything else.
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