Top 10 Indian Banks by Market Cap in 2024
The banking sector in India has shown good growth in recent ten years.The Indian banking system has public sector banks, private sector banks, foreign banks and small finance companies. As of 2024, the top 10 Indian banks by market capitalization are:
HDFC Bank: The largest bank in India in terms of market cap, HDFC Bank is a leading private-sector bank known for its comprehensive financial services. Its market cap is around ₹11.04 trillion.
ICICI Bank: A major private sector bank, ICICI Bank has a strong focus on digital banking and customer service, with a market cap of about ₹7.70 trillion.
State Bank of India (SBI): The largest public sector bank, SBI holds a significant share in the Indian banking market with a market cap of approximately ₹6.75 trillion. It has an extensive domestic and international presence.
Kotak Mahindra Bank: Known for its rapid growth and strong digital banking services, Kotak Mahindra Bank’s market cap is around ₹3.56 trillion.
Axis Bank: This bank is notable for its extensive range of financial services and a strong emphasis on digital banking, with a market cap of ₹3.24 trillion.
Punjab National Bank (PNB): One of the largest public sector banks, PNB has a significant footprint across India with a market cap of ₹1.38 trillion.
Bank of Baroda: This public sector bank has a strong international presence and offers a wide range of banking services, with a market cap of ₹1.37 trillion.
Indian Overseas Bank: Indian Overseas Bank remains a significant player in the private banking sector, with a market cap of around ₹1.38 trillion.
IndusInd Bank: A private sector bank that provides diverse financial services and has significant domestic and international presence, with a market cap of ₹1.21 trillion.
Union Bank of India: A major public sector bank that offers a variety of banking products and services, Bank of India has a market cap of around ₹1.21 trillion.
These banks along with IDBI Bank , Bank of India have been pivotal in driving the growth of India’s financial sector, offering a mix of traditional banking services and modern digital solutions like mobile apps of banks and net banking to meet the diverse needs of their customers
