With several financial organizations owning trillions of dollars in assets, the banking sector has a significant and global footprint. The top 10 banks in the world in 2025 will be examined in this article, along with a thorough examination of their business practices, financial results, and overall effects on the world economy. We may have a better understanding of the contemporary financial landscape and how it influences our world by looking at the specifics of these leading institutions.
Here’s a deep dive into the largest banks in the world.
1. JPMorgan Chase
Total Assets: $4.210 Trillion
In terms of total assets, JPMorgan Chase is the biggest bank in the United States and the sixth largest bank globally. It is a major force in financial services and investment banking. JP Morgan is one of the well-known financial organizations that has already embraced the FedNow system, the Federal Reserve's new fast payment service.
2. Bank of America
Total Assets: $3.324 Trillion
More than 68 million customers and more than 3 million small business clients are served by Bank of America, which has a significant presence in trading, wealth management, and investment banking. The second-largest bank in the world and the sixth-largest bank globally in terms of assets is Bank of America. Ranking 33rd on the list, Bank of America has a market capitalization of $288.96 billion, making it one of the most valuable firms.
3. Industrial and Commercial Bank of China (ICBC)
Total Assets: $6.898 Trillion
Based on total assets, the Industrial and Commercial Bank of China Limited is the biggest bank in the world and the People's Republic of China. ICBC and other major lenders like Bank of America continue to hold a strong position at the top of the global lending rankings.
In over 35 countries, American Wells Fargo & Company provides financial services like insurance, equipment leasing, mortgage banking, and more. As part of JPMorgan's FedNow system integration, Wells Fargo joined 33 other banks and credit unions. Among the top five banks in the US, Wells Fargo provides services to over 70 million customers.
5. The Agricultural Bank of China
Total Assets: $6.212 Trillion
In terms of total assets, the Agricultural Bank of China is the second-biggest bank globally. In 1979, it was established. The latest financial statistics reveal that the company’s current earnings are $43.41 billion. throughout addition to operating throughout Asia Pacific, the Middle East, Europe, and the Americas, the bank is extremely important to China's agriculture industry.
6. Morgan Stanley
Total Assets: $1.258 Trillion
Morgan Stanley is an American investment bank and provider of financial services. Notably, Morgan Stanley and Mitsubishi UFJ Financial recently revealed plans to expand their 15-year partnership by investing in Japanese research and equities as well as foreign exchange trading for a worldwide clientele.
7. China Construction Bank (CCB)
Total Assets: $5.837 Trillion
In terms of total assets, CCB is the third-largest bank in the world. It is one of the top commercial banks in China and has a big impact on infrastructure and building projects there. Chinese Construction Bank is the second-largest bank after ICBC, with 3.48 million corporate clients. Leisure, software, energy, retail, and many other industries are covered by CCB's numerous subsidiaries.
8. Bank of China
Total Assets: $4.859 Trillion
In terms of total assets, the Bank of China ranks fourth among all banks worldwide. It has a large global footprint and is among the oldest banks in China. The financial market activity is currently run by the Bank of China through five major trading centers: Beijing, Shanghai, Hong Kong, New York, and London. The Bank of China started its operations in Hong Kong. Maintaining the value of the currency and encouraging national economic expansion are two of the Bank of China's objectives.
9. Goldman Sachs
Total Assets: $1.728 Trillion
With its headquarters located in New York City, Goldman Sachs is a prominent international investment banking, securities, and investment management company that was founded in 1869. It engages in trading, securities, asset management, and investment banking. The firm has a reputation for its high-profile consulting roles in mergers and acquisitions, underwriting of securities, and asset management. In 2023, Goldman Sachs employed 45,33,000 people worldwide. Despite its success, Goldman Sachs has encountered legal issues and conflicts, which are frequently linked to its substantial influence in international financial markets.
10. HSBC
Total Assets: $3.098 Trillion
This British banking firm, which was founded in Hong Kong and Shanghai and currently has its headquarters in the United Kingdom, is the eighth-largest bank globally. serving millions of clients globally as a leading provider of banking and financial services. With a network spanning 62 countries, HSBC provides services to around 42 million clients worldwide. In addition to offering its goods and services, HSBC has branches in India and is growing its clientele in the personal banking sector.
There are a lot of options available when selecting a bank in India, which might be bewildering. In 2024, a wide range of financial services for both individuals and corporations are provided by multiple government-owned organizations. The State Bank of India, Bank of Baroda, Punjab National Bank, Indian Overseas Bank, Canara Bank, Union Bank of India, Indian Bank, UCO Bank, Bank of India, Central Bank of India, Bank of Maharashtra, and Punjab and Sind Bank are the 12 government banks that currently operate in India. To assist you in making smarter choices, we have compiled a simple guide featuring the top ten government banks in India. Information on both well-known and rising stars in India's banking industry will be included in this list.
The State Bank of India (SBI), as the leading government bank in India, occupies the top position on our list. Established in 1806 and recognized for being this nation’s oldest commercial entity, SBI has expanded its operations with an extensive network covering over 22405 branches across the country alongside a substantial presence of approximately 63977 ATMs in addition to numerous business correspondence outlets reaching upwards of 71889. By March 2024 data suggests that SBI’s market share exceeded more than twenty percent for both deposits and loans, evidencing its prominent status within India’s banking sector.
State Bank of India plans to raise up to Rs 20,000 crore in FY25 through long-term bonds via public issue or private placement. This follows their Rs 20,000 crore infrastructure bond sale last year. SBI recently raised Rs 5,000 crore through perpetual bonds and $100 million through its London branch. The bank reported a 21.6% YoY growth in net profit for FY24. While its current market cap as of December 2024 is standing at 772,381.24 Crore INR.
SBI has made a recent announcement about their aspiration to increase up to ₹5,000 crore via Additional Tier-I bonds. The continuous nature of these bonds forms an integral part of the bank’s tactics for augmenting its capital foundation and adhering to Basel III global banking stipulations.
SBI provides an extensive variety of financial products as well services like retail, corporate, plus investment banks are available with them .It has been leading in digital banking too by frequently updating to improve customers experience at the bank which is highly reliable and popular among more than a few million people living in India.
State Bank of India (57.51%): Government holds majority stake, while the remaining 42.49% is held by public shareholders, as of September 2024.
2. Bank of Baroda
MD & CEO: Debadatta Chand
Revenue FY24: Rs1,12,605.94
The Bank of Baroda, founded in 1908 and headquartered in Vadodara, Gujarat, is India’s prestigious government-owned financial institution that maintains a significant presence across the nation as well globally with operations spanning over 24 countries. By prioritizing innovation and digital transformation to meet customer needs effectively, it provides an extensive array of banking solutions encompassing retail, corporate, international business segments catered worldwide.
Bank of Baroda has named Mr. Ajay K Khosla as the Chief General Manager for Government Business in New Delhi, starting on October 19, 2024. With his entry into the institution back in 1988, Khosla is a seasoned banking professional and contributes much operational expertise to this new position. The notice about this appointment was given out today via regulatory submissions made to BSE and NSE.
This publicly owned bank with market cap of 135,763.77 Crore INR, operates across 24 nations and plans to double its tech team size to about 3000 members by FY2026, while also investing in their infrastructure and launching a platform based on artificial intelligence (AI). Renowned for being innovative as well as dedicated towards financial inclusion, the Bank of Baroda provides complete banking solutions. The bank actively supports government programs like Pradhan Mantri Jan Dhan Yojana scheme to further its commitment.
Bank of Baroda (63.97%): Nearly two-thirds owned by the government, with 36.03% shares distributed among institutional and retail investors, as of September 2024.
3. Punjab National Bank (PNB)
MD & CEO: Atul Kumar Goel
Revenue FY24: Rs1,06,901.62
PNB (Punjab National Bank), which ranks as India’s second-largest public sector lender since its inception in 1894, has a long history across the country with a strong presence. By March of this year 2024, PNB revealed an impressive increase to over Rs. ₹2,22,574 crore for total retail credit which shows robust performance. Formed by merging Punjab National Bank alongside Oriental Bank and United Bank – each bringing their strengths together in offering enhanced services.
In the last few months, Punjab National Bank (PNB) shared plans for raising 75 billion Indian Rupees (USD 890 million). The bank’s CEO Atul Kumar Goel anticipates an increase in loan growth to be around 12% by the financial year 2025. This follows the impressive results achieved so far, as total retail credit increased up till March of this last fiscal period reaching a figure of Rs. 2,23 billion (in crore). According to latest stats, it has a market cap of 125,548.91 Crore INR.
Being one in top 10 government banks in India, PNB is renowned for its dedication to technological improvements that enhance customer experience and satisfaction through various services, including banking in sectors such as personal or corporate needs also catering to the agricultural segment with great precision.
Punjab National Bank (70.08%): Government maintains strong control with over 70% ownership, leaving 29.92% for public investment, as of September 2024.
4. Canara Bank
MD & CEO: K. Satyanarayana Raju
Revenue FY24: Rs1,08,687.93
Canara Bank, established in 1911, stands as another prominent top 10 government banks in India with a significant presence across India. The bank boasts over two-thirds (62.93%) of ownership from the Indian Government since 2024 and is headquartered in Mumbai, Maharashtra. With an extensive network covering branches to ATMs nationwide, Canara Bank provides ease for their customers’ banking needs anytime they require it.
Canara Bank has raised its lending rates by 5 basis points starting from October 12, 2024. This change makes consumer loans such as auto and personal loans more expensive. The latest one-year MCLR rate is now at 9.05%, which was previously only at 9%. These adjusted rates that start on October 12, 2024, are in response to the RBI’s choice to maintain its standard rate as it is.
Among these services are savings and current accounts, loans of various types such as home mortgages or personal financing options along with a variety of investment products offered by the bank. In addition to financial support and assistance in India, this government-affiliated institution is also recognized for its efforts towards social responsibility through active involvement in community development initiatives. This bank holds a market cap of 99,350.84 Crore INR.
Canara Bank (62.93%): Government retains almost 63% control, while various investors hold the remaining 37.07% of shares, as of September 2024.
5. Union Bank of India
MD & CEO: A. Manimekhalai
Revenue FY24: Rs99,777.96
Union Bank of India was founded in 1919 as an important government-owned institution with a strong market standing today. With over four out of every five shares owned by the government (83.49%), this bank is reliable, trustworthy, and well-appreciated among clients to date (as per data from the year 2024). The head office for Union Bank of India resides in Mumbai city of Maharashtra state.
Union Bank of India published its Q2 FY2025 results on October 21, 2024. The reports exhibited a growth in net profit by 34% from last year to ₹4,720 crore. However, the bank experienced a minor decrease in its net interest income by nearly one percent to settle at ₹9,047 crore. Meanwhile asset quality got better as the gross NPA ratio dropped down to 4.36%. They also kept up with a good provision coverage ratio which stood firmly at about 92.79 %.
This institution offers a broad spectrum of banking services that cater to retail customers as much as they do the corporate sector too, spreading its network all across this country and known widely on customer satisfaction grounds only. A notable aspect is their commitment towards digital transformation for secure online banking solutions offering convenient ways in today’s modern era of technology usage. Bank has a market cap of 98,923.90 Crore INR.
Union Bank of India (74.76%): Strong government control at nearly 75%, leaving just over 25% for public shareholding, as of September 2024.
6. Bank of India
MD & CEO: Rajneesh Karnatak
Revenue FY24: Rs60,709.49
The Bank of India was founded way back in 1906 making it one the oldest government banks around. Its main office resides proudly in Mumbai.
The Indian Government owns a big chunk of this bank at about 81%, showing how stable it is within the market. They offer all kinds of financial services from individual customers through corporations up to investment banking, really catering to everyone’s needs. According latest information as of October 2024, It’s current Market cap is standing at 52,501.37 Crore INR
Bank of India (73.38%): Government maintains firm control with 73% ownership, allowing 26.62% for public participation, as of September 2024.
7. Indian Bank
MD & CEO: Shanti Lal Jain
Revenue FY24: Rs55,614.78
Established in 1907, Indian Bank is an important public sector banks in India with a base in Chennai, Tamil Nadu. With the majority ownership at about 80% by the government, it prioritizes stability and customer satisfaction above all else. It has expanded across India due to its dedication towards community improvement and financial independence for everyone.
They provide various services like retail banking or corporate ones along with those tailored specifically toward agriculture-related needs too. Notably, they’ve been active in government programs promoting inclusive finance which have led them to recognition over time. Banks has a market cap of 80,346.40 Crore INR.
The Indian Bank has managed to accumulate ₹5,000 crore via the issuance of Long-Term Infrastructure Bonds that come with an annual interest rate of 7.24%. The bonds have been quite popular, attracting a significant number of bids – 88 in total – cumulatively amounting to ₹13,680 crore.
This figure is substantially more than the original aim which was set at ₹2,000 crore but included an extra option for another ₹3,000 crore. These AAA-rated bonds lasting ten years carry certain exemptions from regulatory norms and guidelines. The funds will assist in enhancing credit and restructuring infrastructure projects. The bonds were distributed on September 13, 2024.
Indian Bank (73.84%): Government dominates ownership with almost 74% stake, while 26.16% is publicly traded, as of September 2024.
8. UCO Bank
MD & CEO: Ashwani Kumar
Revenue FY24: Rs21,854.34
UCO Bank, This is a government-owned banking institution, known for its trustworthiness and good reputation. It was established in the year 1943, with its main office located in Kolkata. UCO Bank has an extensive network throughout India that includes more than 4,000 service units and 43 zonal offices across the country.
They provide a full spectrum of financial products and services such as savings accounts to loans for both individuals as well as businesses including investments plus insurance options too. The UCO Bank, which has a customer-oriented strategy and many awards for excellent service and performance, is involved in continually improving its operations.
UCO Bank has declared a notable net gain of ₹602.7 crore for the second quarter of this financial year, indicating a 50% surge from last year’s ₹401.6 crore during the similar time frame.
The profit jump was fueled by an augmentation in operating profit by 45%, and increased earnings from interest income too played its part. In order to match up with regulatory requirements, the bank plans on gathering almost ₹2,000 crore via the sale of share capital market shares.
In 2024 it put into action new features like online account opening, mobile banking as well and contactless payments to enhance the experience of their customers with them. The UCO Bank is strong financially and dedicated to serving the country still today. It’s a trusted partner for many Indians. UCO bank publicly traded stocks currently hold a market cap of 58,476.59 Crore INR.
UCO Bank (95.39%): Government holds an overwhelming majority, leaving only 4.61% for public investors, as of September 2024.
9. Indian Overseas Bank (IOB)
MD & CEO: Ajay Kumar Srivastava
Revenue FY24: Rs24,049.73
Indian Overseas Bank (IOB), known to be one of top 10 government banks in India established in 1937 and headquartered in Chennai, has been focusing on expanding its presence globally while serving the Indian diaspora specifically with NRI products. For Q4 of 2024, IOB reported an impressive increase of net profit by 24% reaching ₹808 crore and a total fiscal year growth in net profit to around ₹2665.66 crores.
The bank’s asset quality has improved with gross NPAs falling to 3.1%. Their business increased significantly, crossing the mark of ₹5 lakh crore, also witnessing CASA (Current Account Savings account) growth by around 43.90% and planning on opening as many new branches reaching a count up to 88 shortly.
The IOB provides many kinds of banking solutions designed for Non-Resident Indians (NRIs). They offer remittance services, special NRI accounts plus loans. Also, they support community development projects which has earned them recognition due to their social responsibility work. Lastly, there’s UCO Bank – an established and reputable government-owned bank that dates back to 1943 with its headquarters in Kolkata serving across India broadly offering diverse financial products for both individuals and companies alike. Current Market cap of Indian Overseas Bank stands at 107,630.34 Crore INR.
On October 17, 2024, Indian Overseas Bank announced that Q2 profit rose by 24% reaching ₹777 crore. The total income also increased with a rise of approximately 22%, amounting to ₹8,484 crore. There was an improvement in the bank’s asset quality as gross NPAs were reduced to around a rate of 2.72%.
Indian Overseas Bank (96.38%): Almost completely government-controlled with minimal public shareholding of just 3.62%, as of September 2024.
10. Central Bank of India
MD & CEO: Matam Venkata Rao
Revenue FY24: Rs30,722.23
The Central Bank of India was established way back in the year 1911, making it a well-trusted government-owned banking institution with its headquarters set up in Mumbai city which extends itself all over India contributing significantly towards social development and economic growth within rural areas too. It’s one of the top 10 government banks in India that actively participate in projects aiming for better financial inclusion, especially among the underserved sections across our nation, thus playing an influential role in national progression schemes.
Recently it made headlines about reducing its cost-to-income ratio from 58.18% during FY24 to under 50 % by the Financial Year (FY) of 2025, the CEO Mr MV Rao confirmed this news stating that they’re working on improving process efficiency and cutting down costs for higher profits. The bank also intends to diminish bad loans while striving towards enhancing asset quality over time, demonstrating its commitment to long-term growth strategies and a more responsible banking culture overall. Currently it holds a market cap of 51,156.78 Crore INR.
The Central Bank of India disclosed a rise in net profit by 50.91%, reaching ₹913 crore for the quarter that concluded on September 30, 2024. This is compared to the ₹605 crore recorded during a similar time last year.
The total dealings of this prominent government banks in India has expanded by 7.07% and reached up to ₹644858 crores while its total savings grew by an increased rate of approximately 0.57%, making it reach ₹391914 crore worth of savings deposited in their accounts.
Regarding financial performance indicators, there was positive growth seen with the net interest margin escalating up to 0.44% from previously lower numbers, and similarly return on assets also showed betterment coming out at 0.85%.
Central Bank of India (93.08%): One of highest government holdings at 93%, with very limited public shareholding of 6.92%, as of September 2024.
The Indian Bank sector is one of the most important financial backbone for the country, from contributing to credit to financing business ventures. The Indian banking sector is booming and diverse. In 2024, these prominent banks in India, continue to pave their way to contribute to the economy of the country. Here in the blog we will list and discuss the top 10 banks in India by their market capitalization as of 23 October 2024.
HDFC Bank is Known to be the largest bank in India, It was established in 1994 and is now a strong influence in the Indian banking sector. With more than 5,400 branches spread across 2,800 cities and towns. Being the largest private bank in the country, gaining status as a Domestic Systemically Important Bank from RBI, they are considered the premier bank in the credit sector landscape.
They have over 56 million customers, making them one of the most popular choices for Indian customers. They are known for their high-quality services in retail banking, with a strong history of very good performance. As of the latest stats, its market cap is standing at 1,354,442.63 Crore INR.
2. ICICI Bank
Revenue – 44.83KCr
Net income – 11.7KCr
NIM – 4.36%
CASA – 2.17%
Gross NPA – 2.15%
ICICI Bank is widely recognized as one of the best banks in India, its central foundation is in Mumbai, Maharashtra and it has more than 6000 branches along with around 17 thousand ATMs all over India only. This bank works in 17 other countries globally too. It provides different financial services to clients like retail banking for individuals and corporate banking for businesses. Moreover, it is involved in investment banking, providing insurance products, venture capital funding, and asset management services. Being one of the top 10 banks in India, Currently, Its market cap stands at 919,099.06 Crore INR.
3. State Bank of India (SBI)
Revenue – 76.02KCr
Net Income – 19.32KCr
NIM – 3.47%
CASA – 39.89%
Gross NPA – 2.24%
State Bank of India (SBI) is considered one of the top 10 banks in India, in the public sector. Holding 23% share of total assets held by Indian banks, Headquartered in Mumbai. SBI is known for popular retail banking services in rural and urban populations of the nation, they also have treasury services.
SBI is the biggest bank in India in the public sector and is the tenth largest employer in the country. SBI has been listed in the Fortune Global 500 list of the world’s biggest corporations of 2020, landing as the only Indian bank on the list. Moreover, In 2023, the Bank found itself in Forbes Global 2000 with 77 rank.
SBI in the Q3 result of 2023-2024 reported a net income of 39,815 Crore INR, SBI being the biggest public sector bank, with its current market cap standing at 754,710.49 Crore INR.
4. Axis Bank
Revenue – 19.31KCr
Net Income – 7.4KCr
NIM – 3.99%
CASA – 42.98%
Gross NPA – 1.43%
Axis Bank, established in 1993, is a prominent best bank in India, famous for its customer-centric attitude and innovative solutions. Axis Bank with its network of 4,000 branches and 12,000 ATMs throughout the country provides multiple banking service options for the population nationwide.
Through a wide variety of products and services, the bank provides financial solutions for individuals with different financial requirements and preferences.
This bank is one of the largest banks in India based on market cap, whose current value is 354,457.43 Crore INR.
5. Kotak Mahindra Bank
Revenue – 18.85KCr
Net Income – 5.04KCr
NIM – 4.9%%
CASA – 0.00%
Gross NPA – 1.39%
Kotak Mahindra Bank is one of the top banks in India in the private sector, famous for its creative financial offerings and focus on customers. It is one of the biggest private banks by market size and provides many banking and finance services to people and companies. The bank’s main office is in Mumbai and it has a big network, with more than 1,600 branches and 2,500 ATMs throughout the nation. According to the latest market information, its current market capitalization stands at 352,948.84 Crore INR.
6. Bank of Baroda
Revenue – 14.78KCr
Net income – 4.73KCr
NIM – 3.14%
CASA – 38.76%
Gross NPA – 2.92%
Bank of Baroda (BOB) is one of the top banks in India in the public sector, with its headquarters in Vadodara, the city of Gujarat. Founded in 1908 by Sayajirao Gaekwad III, Maharaja of Baroda, the legendary leader, it is currently the second biggest public bank in the country.
BOB is an international entity with thousands of network outlets in India and other countries.
The network consists of over 9,600 branches and 10,000 ATMs spread not only in India but in more than 25 countries around the world, making it one of the top 10 banks in India. The bank provides a comprehensive range of banking products and financial services to meet the demands of not only corporate customers but also retail clients.
Also per the latest information from the stock market exchange, Bank of Baroda holds 127,836.07 Crore INR in market cap.
7. Punjab National Bank (PNB)
Revenue – 13.32KCr
Net Income – 3.98KCr
NIM – 3.11%
CASA – 40.33%
Gross NPA – 5.73
The Punjab National Bank (PNB) is a public-sector bank in India that was initially founded on 12th May 1894. This not only makes PNB one of the oldest banks in the country but also one of the market leaders as well as a testament to its long record of success. PNB has nearly 18 crores of customer base, 12248 banking channels, and around 13500 ATMs and is one of the two public sector banks of India.
However, it is not only a local bank, but also a transnational banking organization that includes branches in Hong Kong, Dubai, and Kabul. Its main offices can be found in Almaty, Dubai, Shanghai, Oslo and Sydney. Along with that, the PNB has ownership of Nepal, Bhutan, and Kazakhstan banks.
It depicts this as a mission statement from Emfinbi to create global financial inclusion. SBI ranks just behind the top five banks, holding a market cap of 120,009.31 Crore INR, which is equivalent to the sixth largest bank in terms of market capitalization.
8. IndusInd Bank
Revenue – 6.8KCr
Net Income – 2.17KCr
NIM – 4.25%
CASA – 37.91%
Gross NPA – 1.92
IndusInd Bank, founded by Srichand P. Hinduja in 1994, delivered services to more than 38 million customers through the large number of branches it has – 2,728 – and also by operating an extensive network consisting of around 2,939 ATMs all over the nation.
IndusInd Bank acquired Bharat Financial Inclusion Limited in 2017 for ₹15,000 crore and finished the merger process in 2019. It joined with ICC as a worldwide sponsor for men’s cricket events in 2023.
In April 2024, IndusInd Bank collaborated with Circularity Innovation Hub India Private Limited (CIH) to pilot a project utilizing the Reserve Bank of India’s (RBI) programmable Central Bank Digital Currency (CBDC). The trial allocated digital currency to farmers in Maharashtra to encourage sustainable farming and gain carbon credits, involving partners like Hindustan Agro who work with these farmers. The bank has a goal to spread this creative effort all over the country for better results for more farmers and nature.
During the last part of the financial year 2024’s fourth quarter, IndusInd Bank experienced a notable rise in its net profit. The bank saw an increase of 15 percent to ₹2,349 crore in net profit compared to ₹2,043 crore during the same period in the past year. This growth shows the bank’s good financial performance. Moreover, according to the latest stats from the stock exchange, its current market cap stands at 98,978.86 Crore INR.
9. Indian Overseas Bank (IOB)
Revenue – 3.03KCr
Net income – 779.62Cr
NIM – 3.28%
CASA – 43.90%
Gross NPA – 2.72%
Indian Overseas Bank (IOB), which has its main office in Chennai, is a big public sector bank. It was established back in 1937 and started with special focus on foreign exchange together with overseas banking services.
Nowadays, IOB provides a wide array of financial services to people, businesses and corporations. It gives personal and corporate banking along with different kinds of loans for housing, vehicles as well as education.
The bank has a big network in India, with branches and ATMs all over the country. It also manages some international operations.
On March 31, 2024, IOB reached a combined net profit of ₹2,665.66 crore. This shows an increase of 24% from the last year’s performance and illustrates the bank’s strong financial situation and operational efficiency. The bank also experienced an elevation in its operating profit to ₹1,961 crore along with total income of ₹9,112.67 crore which displays steady growth and provides a robust base for future expansion. As of latest market stats it’s market cap is 99,369.98 Crore INR.
Indian Overseas Bank announced strong results on October 23, 2024. The bank’s profits grew by 24%, reaching Rs. 777 crore in the second quarter, compared to Rs. 625 crore last year. This growth came from higher interest earnings of Rs. 6,851 crore and new customer additions.
In India’s banking industry, IOB is still a significant participant. It aids the country’s economic expansion and initiatives to make financial services available for every citizen. For many Indians, IOB remains a reliable monetary establishment that caters to their varied banking requirements.
10. Canara Bank
Revenue – 15.15KCr
Net Income – 4.07KCr
NIM – 3.05%
CASA – 35.00%
Gross NPA – 4.23%
Canara Bank, which started in 1906 in Mangalore, is a major public bank in India with a long history. Its main office is in Bangalore, and it has grown greatly, having more than 8,500 branches and 10,000 ATMs throughout the whole country. The bank is also growing internationally. Canara Bank provides many kinds of money services and financial products to meet different people’s wants. They have offices in many countries around the world. Its solid financial situation is shown in its market value, which is about 91,386.81 Crore INR. With its wide network, complete goods and services, and good financial position, Canara Bank has secured its place as one of the best banks in India.
