10 Biggest banks in India (2024)

India has a thriving private banking sector, with several banks vying for the top spot in terms of assets under management. Here are the top 10 private banks in India ranked by their asset size.

India’s biggest banks

Rank	Bank	Assets in Rupees	Assets in US Dollars
1.	HDFC Bank	20.69 trillion	250 billion
2.	ICICI Bank	14.11 trillion	170 billion
3.	Axis Bank	9.96 trillion	120 billion
4.	Kotak Mahindra	3.83 trillion	46 billion
5.	Induslnd Bank	3.63 trillion	44 billion
6.	IDBI Bank	2.98 trillion	36 billion
7.	Yes Bank	2.74 trillion	33 billion
8.	Federal Bank	2.01 trillion	24 billion
9.	IDFC First Bank	1.63 trillion	20 billion
10.	Jammu and Kashmir Bank	1.2 trillion	15 billion

1. HDFC Bank

Assets: Rs. 20.69 trillion, $250 billion

HDFC Bank is one of India’s largest private sector banks, with assets worth over Rs. 20.6 trillion as of September 2022. The bank was founded in 1994 and has since grown to become one of the most respected and trusted financial institutions in the country.

HDFC Bank’s success is built on its customer-centric approach, which is reflected in its broad range of financial products and services, including savings and current accounts, personal loans, credit cards, insurance, and investment services. The bank has also invested heavily in technology to make banking convenient and accessible to customers across the country.

HDFC Bank has been recognized as one of the best-run banks in the world, with a focus on corporate governance, risk management, and compliance. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

2. ICICI Bank

Assets: Rs. 14.11 trillion, $170 billion

ICICI Bank is India’s second-largest private sector bank, with assets worth over Rs. 14.11 trillion as of September 2022. The bank was founded in 1994 and has since grown to become a leading provider of financial products and services in the country.

ICICI Bank’s success is built on its focus on innovation and technology, which has enabled it to offer a wide range of financial products and services, including retail banking, corporate banking, investment banking, and insurance. The bank has also been a pioneer in digital banking, with initiatives focused on mobile banking, internet banking, and digital payments.

ICICI Bank has been recognized as one of the best-run banks in the world, with a focus on corporate governance, risk management, and compliance. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

3. Axis Bank

Assets: Rs. 9.96 trillion, $120 billion

Axis Bank is India’s third-largest private sector bank, with assets worth over Rs. 9.9 trillion as of September 2022. The bank was founded in 1993 and has since grown to become one of the most respected and trusted financial institutions in the country.

Axis Bank’s success is built on its customer-centric approach, which is reflected in its broad range of financial products and services, including savings and current accounts, loans, credit cards, insurance, and investment services. The bank has also invested heavily in technology to make banking convenient and accessible to customers across the country.

Axis Bank has been recognized as one of the best-run banks in the world, with a focus on corporate governance, risk management, and compliance. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

4. Kotak Mahindra Bank

Assets: Rs. 3.83 trillion, $46 billion

Kotak Mahindra Bank is India’s fourth-largest private sector bank, with assets worth over Rs. 3.8 trillion as of September 2022. The bank was founded in 1985 and has since grown to become a leading provider of financial products and services in the country.

Kotak Mahindra Bank’s success is built on its focus on innovation and customer service, which has enabled it to offer a wide range of financial products and services, including savings and current accounts, personal loans, credit cards, insurance, and investment services. The bank has also been a pioneer in digital banking, with initiatives focused on mobile banking, internet banking, and digital payments.

Kotak Mahindra Bank has been recognized as one of the best-run banks in the world, with a focus on corporate governance, risk management, and compliance. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

5. IndusInd Bank

Assets: Rs. 3.63 trillion, $44 billion

IndusInd Bank is India’s fifth-largest private sector bank, with assets worth over Rs 3.6 trillion as of September 2022. The bank was founded in 1994 and has since grown to become a trusted financial institution in the country.

IndusInd Bank’s success is built on its customer-centric approach, which is reflected in its wide range of financial products and services, including savings and current accounts, personal loans, credit cards, insurance, and investment services. The bank has also invested in technology to make banking convenient and accessible to customers across the country.

IndusInd Bank has been recognized for its focus on innovation and customer service, and has won several awards for its innovative products and services. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

6. IDBI Bank

Assets: Rs. 2.98 trillion, $36 billion

IDBI Bank is a public sector bank that was founded in 1964. The bank has assets worth over Rs. 2.9 trillion as of September 2022. IDBI Bank offers a wide range of financial products and services, including corporate banking, personal banking, loans, and insurance.

IDBI Bank has faced significant challenges in recent years, including high levels of non-performing assets and poor financial performance. However, the bank has taken several steps to address these issues, including a restructuring plan and a focus on improving corporate governance and risk management practices.

7. Yes Bank

Assets: Rs. 2.74 trillion, $33 billion

Yes Bank is a private sector bank that was founded in 2004. The bank has assets worth over Rs. 2.7 trillion as of September 2022. Yes Bank offers a wide range of financial products and services, including savings and current accounts, loans, credit cards, insurance, and investment services.

Yes Bank has faced significant challenges in recent years, including a liquidity crisis and regulatory issues. However, the bank has taken several steps to address these issues, including a capital infusion and a focus on improving corporate governance and risk management practices.

8. Federal Bank

Assets: Rs. 2.01 trillion, $24 billion 

Federal Bank is a private sector bank that was founded in 1945. The bank has assets worth over Rs. 2.0 trillion as of September 2022. Federal Bank offers a wide range of financial products and services, including savings and current accounts, loans, credit cards, insurance, and investment services.

Federal Bank has a strong focus on technology, and has invested in digital banking initiatives to provide convenient and accessible banking services to customers across the country. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

9. IDFC First Bank

Assets: Rs. 1.63 trillion, $20 billion

IDFC First Bank is a private sector bank that was founded in 2015. The bank has assets worth over Rs. 1.6 trillion as of September 2022. IDFC First Bank offers a wide range of financial products and services, including savings and current accounts, loans, credit cards, insurance, and investment services.

IDFC First Bank has a strong focus on customer service and has invested in technology to provide convenient and accessible banking services to customers across the country. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

10. RBL Bank

Assets: Rs. 1.20 trillion, $15 billion

RBL Bank is a private sector bank that was founded in 1943. The bank has assets worth over Rs. 1.2 trillion as of September 2022. RBL Bank offers a wide range of financial products and services, including savings and current accounts, loans, credit cards, insurance, and investment services.

RBL Bank has a strong focus on innovation and customer service, and has won several awards for its innovative products and services. The bank has also been committed to sustainable development, with initiatives focused on education, healthcare, and environmental protection.

Conclusion

These top private banks in India have played a critical role in the development of the country’s financial sector. Their customer-centric approach, innovation, and commitment to sustainable development have enabled them to provide convenient and accessible banking services to customers across the country.

With their continued growth and success, these banks will continue to drive the growth of India’s economy and financial sector.