Top Banks In India: Market Cap Trends For 2025

Top Banks in India: Curious about which are the top banks in India in 2025? The Indian banking sector is booming, contributing immensely to the nation’s growth, investments, and financial stability.

As one of the largest and fastest-growing economies, India’s banking market is projected to reach a Net Interest Income of US$465.10bn in 2025. The top banks in India, led by HDFC Bank, are not only major players domestically but also rank globally by market cap.

Here, we will explore the top 10 banks in India by market capitalization, highlight the leading private banks, and answer questions like, “Which is the No. 1 bank in India?”

Top 10 Banks in India by Market Cap in 2025

As of January 2025, the following table showcases the top banks in India ranked by their market capitalization. These banks play a crucial role in India’s financial ecosystem, with the top private banks in India leading the charge, followed by prominent public sector banks. Here’s a look at the Top 10 Banks in India by Market Cap in 2025:

Top Banks in India 2025: Market Cap Overview
Rank	Bank Name	Type	Market Capitalization (INR)
1	HDFC Bank	Private	₹13.11 Lakh Crore
2	ICICI Bank	Private	₹9.05 Lakh Crore
3	State Bank of India (SBI)	Public	₹6.95 Lakh Crore
4	Kotak Mahindra Bank	Private	₹3.55 Lakh Crore
5	Axis Bank	Private	₹3.30 Lakh Crore
6	Bank of Baroda	Public	₹1.20 Lakh Crore
7	Punjab National Bank	Public	₹1.19 Lakh Crore
8	Indian Overseas Bank	Public	₹0.97 Lakh Crore
9	Canara Bank	Public	₹0.89 Lakh Crore
10	Union Bank of India	Public	₹0.87 Lakh Crore

Also Check: 10 Investment Banking Companies in India

Overview of Top Banks in India 2025

In 2025, India’s banking sector features some of the top banks in India, ranked by their market capitalization. These banks have a significant role in India’s financial sector, offering a variety of services ranging from personal banking to corporate finance. Below is a detailed overview of these leading financial institutions.

1. HDFC Bank

Market Cap: ₹1,308,244.37 Crore INR

HDFC Bank is the leading private-sector bank in India in terms of assets. It has a vast presence, with over 5,400 branches across 2,800 cities. Established in 1994, it is often considered the No. 1 bank in India due to its strong market position and extensive service offerings in retail banking. The Reserve Bank of India has also identified it as a Domestic Systemically Important Bank (D-SIB).

Services Offered: Personal banking, loans, cards, online banking, corporate banking.
Notable Achievements: Over 56 million customers, consistent performance, and a market cap that stands at ₹1,308,244.37 Crore INR.

2. ICICI Bank

Market Cap: ₹892,390.17 Crore INR

ICICI Bank, another major player in India’s banking sector, is a multinational financial institution headquartered in Mumbai. It is one of the top private banks in India and offers a broad spectrum of services, from personal banking to insurance and investment services.

Global Presence: ICICI Bank operates in 11 countries and has 6,613 branches and over 16,000 ATMs.
Recent Performance: Despite fluctuations in net profit, it remains one of the top 10 private banks in India.

3. State Bank of India (SBI)

Market Cap: ₹692,907.50 Crore INR

SBI is India’s largest public-sector bank, dominating the market with a 23% share in assets and 25% in loan and deposit markets. Founded in 1955, it is the third-largest bank in India by market capitalization. SBI also holds a prestigious place on the global stage, being ranked among the top 50 banks worldwide.

Services: Offers personal, corporate, and treasury services.
Achievements: SBI is the No. 3 bank in India, with a market cap of ₹692,907.50 Crore INR.

4. Kotak Mahindra Bank

Market Cap: ₹353,825.33 Crore INR

Kotak Mahindra Bank is renowned for its innovative financial offerings and its strong customer service. It is one of the top 10 private banks in India and has a wide range of services that include personal finance, investment banking, and wealth management.

Global Network: It operates 1,869 branches and 3,239 ATMs.
Key Highlights: Known for offering high interest on savings and competitive rates on loans.

5. Axis Bank

Market Cap: ₹329,140.54 Crore INR

Axis Bank, the third-largest private-sector lender in India, offers a diverse range of banking products, including personal and corporate banking services. Established in 1993, Axis Bank has more than 4,000 branches and 12,000 ATMs across the country.

Services: Corporate and personal banking, internet banking, loan facilities, and credit cards.
Performance: Axis Bank has seen a steady increase in net profit, reflecting its strong position in the Indian banking sector.

6. Bank of Baroda

Market Cap: ₹117,886.37 Crore INR

Bank of Baroda is the second-largest public sector bank in India and boasts a significant global presence, with over 100 offices in countries around the world. The bank offers a wide range of services to individuals and businesses alike.

Global Reach: Over 9,600 branches and 10,000 ATMs across India and in 25+ countries.
Growth: Bank of Baroda has consistently improved its performance, with a 23% rise in profits in Q2 FY25.

7. Punjab National Bank (PNB)

Market Cap: ₹116,929.20 Crore INR

Punjab National Bank is one of India’s oldest and most respected banks, founded in 1894. It is a public sector bank that offers a wide range of financial products, including personal and corporate banking, loans, and investment services.

Global Presence: PNB has a significant international footprint with branches in the UK, Hong Kong, Dubai, and Kabul.
Market Position: With a market cap of ₹116,929.20 Crore INR, it ranks among the top 10 banks in India.

8. Indian Overseas Bank (IOB)

Market Cap: ₹95,816.33 Crore INR

Indian Overseas Bank, based in Chennai, is a major public-sector bank with a focus on both domestic and international banking. Established in 1937, it offers a wide range of services, including personal and corporate banking, loans, and foreign exchange.

Performance: The bank has shown a 24% growth in net profit, signalling its strong financial health.
Global Operations: IOB has branches in 4 foreign countries and a significant domestic presence.

9. Canara Bank

Market Cap: ₹88,284.65 Crore INR

Canara Bank is another prominent public sector bank, with its headquarters in Bangalore. It was founded in 1906 and offers a full spectrum of banking products and services. The bank has made notable strides in digital banking.

Network: With over 8,500 branches and 10,000 ATMs, Canara Bank serves millions of customers across India.
Digital Transformation: The bank is heavily invested in digital banking services.

10. Union Bank of India

Market Cap: ₹88,284.65 Crore INR

Union Bank of India, a public sector bank, is one of the largest after its merger with Andhra Bank and Corporation Bank. It offers a wide range of services, including retail, corporate, and NRI banking services.

Branch Network: Union Bank of India operates more than 9,300 branches and 10,000 ATMs across India.
Global Presence: It has branches in Hong Kong, Dubai, Antwerp, and Sydney.

Also Read: Why Private Banking Might Be the Right Career for You

Furthermore, the top 10 banks in India by market capitalization in 2025 reflect a dynamic and competitive banking sector, with HDFC Bank, ICICI Bank, and SBI leading the way. These top banks in India, both private and public, continue to drive growth and innovation, offering diverse financial services that cater to the evolving needs of customers.

Understanding their market cap and performance provides valuable insights for both investors and customers. Therefore, learning banking and BFSI is essential for a successful career in the evolving financial sector. It provides the skills needed to stay relevant and opens up numerous career opportunities in a fast-growing industry.

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Disclaimer: This article is for general informational purposes only and is sourced from multiple references!

Top Banks in India FAQs

What are the top 10 banks in India by market cap in 2025?

The Top 10 Banks In India By Market Cap In 2025 include major public and private banks, with HDFC Bank, ICICI Bank, and SBI leading the list. These banks play a crucial role in the financial sector of India.

Which are the top private banks in India?

The top private banks in India include HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank. These banks have a significant market presence and offer a wide range of financial services.

Which is the No. 1 bank in India?

The No. 1 bank in India by market cap and overall performance is HDFC Bank. It has consistently topped the rankings due to its strong financial performance and wide customer base.

Who is the No. 2 bank in India?

ICICI Bank is the No. 2 bank in India, following HDFC Bank. It is a leading private sector bank in India, known for its robust banking services and extensive network.

Which is the safest bank in India?

State Bank of India (SBI) is often considered the safest bank in India due to its large size, government backing, and strong financial foundation. It remains a trusted choice for many Indians.