10 best banks in India

Despite several challenges plaguing the banking sector, HDFC Bank has emerged as the best bank in India (among the large banks) with good asset quality, high loan growth, a healthy capital adequacy ratio, says a study by Business Today which ranks India’s best banks.

The ranking covers 65 scheduled commercial banks. The banks were rated on three broad ranking parameters of growth, asset quality and productivity & efficiency. The data is based on figures for the period 2009-10 to 2012-13.

Take a look at 10 best banks in India (banks with balance sheet of more than Rs 100,000 crore)…

HDFC Bank

Rank: 1

Score: 2293.13

The Housing Development Finance Corporation Limited (HDFC) was among the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector.

Founded in August 1994, HDFC Bank started operations as a scheduled commercial bank in January 1995.

Today, HDFC Bank is the fifth largest bank in India by assets. It is also the largest bank in India by market capitalisation.

HDFC Bank has 3,251 branches and 11,177 ATMs across 2,022 cities in India.

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Axis Bank

Rank: 2

Score: 2248.25

Axis Bank has won the title of a ‘consistent performer’.

Axis Bank which began its operations in 1991 has a network of 2,225 branches and extension counters and 11,796 ATMs.

It has the largest ATM network among private banks in India. 

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ICICI Bank

Rank: 3

Score: 2042.52

ICICI Bank is one of the Big Four banks of India.

It is the second largest bank in India by assets and by market capitalisation.

The Bank has a network of 3,539 branches and 11,162 ATM's in India, and has a presence in 19 countries.

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Bank of Baroda

Rank: 4

Score: 1942.13

The second largest Bank in India, Bank of Baroda founded by the Maharaja of Baroda, Sir Sayajirao Gaekwad III on 20 July 1908 in the PrincelyState of Baroda in Gujarat.

It has a network of 4,283 branches and over 2000 ATMs.

The bank was nationalised on 19 July 1969.

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Bank of Maharashtra

Rank: 5

Score: 1783.13

Bank of Maharashtra ranks first in terms of growth among large banks in India.

The bank registered on 16 September 1935 and commenced business on 8 February 1936.

The bank has the largest network of branches among public sector banks in Maharashtra.

Bank of Maharashtra has over 15 million customers across 1,825 branches.

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IDBI Bank

Rank: 6

Score: 1742.13 

IDBI Bank tops the charts in terms of productivity and efficiency.

IDBI Bank has 1,159 branches and 1945 ATMs including one overseas branch at Dubai and two overseas centres at Singapore & Beijing.

Founded in July 1964, the Bank had an aggregate balance sheet size of Rs 3,22,769 crore (Rs 3.22 trillion).

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Citibank

Rank: 7

Score: 1737.88

Citibank India is a subsidiary of Citigroup, a multinational financial services corporation headquartered in New York.

Established in 1902 in Kolkata, Citibank has an illustrious history in India. Currently, Citigroup, is the largest foreign direct investor in financial services in India.

It operates 41 full-service Citibank branches in 40 cities and over 700 ATMs across the country.

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Corporation Bank

Rank: 8

Score: 1729.38

Founded in March 1906, Corporation Bank has 1869 branches and 1425 ATMs across India.

Started about 108 years ago in 1906, with an initial capital of just Rs 5,000, Corporation Bank has deposits of Rs 1,66,005.45 crore (Rs 1.66 trillion)

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Syndicate Bank

Rank: 9

Score: 1707. 88

Syndicate Bank is one of the oldest and major commercial banks of India. 

It was founded by T M A Pai, Upendra Pai and Vaman Kudva with a capital of just Rs 8,000 in Udupi, Karnataka to help local weavers.

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State Bank of India

Rank: 10

Score: 1696.25

State Bank of India, India’s largest bank is ranked 10th in the list.
 
As of December 2013, it had assets of $388 billion and 16,000 branches, including 190 foreign offices.