A bank is extremely important for each country. And there are many banks in our India.In this article, we are getting to mention the 5 largest banks in India.
ICICI Bank
ICICI bank is one of the top bank of India. ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI). ICICI bank is the third-largest bank of India. It is the largest private sector bank in India in terms of market capitalization.
ICICI bank has 2883 branches in India, and it has 10021 ATMs. It is also present in 19 other countries.ICICI Bank is India's second-largest bank as on 31 March 2010 with total assets of Rs 3,634.00 billion (US $ 81 billion) and profit after tax of Rs 40.25 billion (US $ 8,960 lakh).
ICICI Bank provides a wide range of banking products and financial services to corporate and retail customers through a wide range of service channels and its specialized subsidiaries in the fields of investment banking, life and general insurance, venture capital, and asset management.
The bank currently has subsidiaries in the United Kingdom, Russia, and Canada, with branches in the United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Dubai International Financial Center, and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Are in Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany.
ICICI Bank's equity shares are listed on the Bombay Stock Exchange and National Stock Exchange of India Limited and its American Depository Receipts (ADRs) in the New York Stock Exchange (NYSE) in India.,
Axis Bank
Axis bank is one of the most important banks in India. The old name of Axis Bank is UTI Bank. Axis Bank was the first of the new private sector banks since 1994, beginning with its functioning, following the permission of the Indian government to set up banks in the private sector. The name of this bank at the time of establishment was UTI Bank which was later changed to Axis Bank.
This bank is owned by Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and four insurance companies of the public sector, ie [National Insurance Company Limited], [The New India Assurance Company Limited], [The Oriental Insurance Company Limited] and [United India Insurance Company Limited] jointly promoted.
The bank's registered office is in Ahmedabad and the central office is in Mumbai. The functioning of the bank is vastly spread through 5019 branches and extension counters (till 31 December 2018). Apart from this, we also have 14000 ATMs (up to 30 December 2018) working 24 hours for the convenience of our honorable customers. It is said to be the largest network of ATMs in India. Current 2019 President of this bank Rakesh Makhija.
Currently, the bank has a capital of Rs. 403.63 crores and public holding of the bank (other than promoters) is 53.72%
Kotak Mahindra Bank
Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of April 2019, it is the second-largest Indian private sector bank by market capitalization, with 1600 branches & 2519 ATMs.
In 1985 Uday Kotak founded what later became an Indian financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a Bank: Kotak Mahindra Bank Limited.
In a study by Brand Finance Banking 500 published in February 2014 by Banker magazine (from The Financial Times stable), KMBL was ranked 245th among the world's top 500 banks with a brand valuation of around half a billion dollars ($481 million) and a brand rating of AA+.
In 2015, Kotak Bank acquired ING Vysya Bank in a deal valued at ₹150 billion (US$2.1 billion). With the merger, total employment jumped to almost 40,000, and the count of branches reached 1,261. After the merger, ING Group, which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.
In 2020, Kotak has pledged to donate 50 Crores to PM Cares Fund to fight against Covid-19 Pandemic in India
IndusInd Bank
IndusInd Bank Limited is an Indian new generation bank in Pune, established in 1994. The bank offers commercial, transactional, and electronic banking products and services. IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Indusind Bank is the first among the new-generation private banks in India.
The bank started its operations with a capital amount of Rs. 1 billion among which Rs. 600 million were raised by Indian residents and Rs. 400 million were raised by Non-Resident Indians. The bank has specialized in retail banking services and continuously upgrades its support systems by introducing newer technologies. It is also working on expanding its network of branches all across the country along with meeting the global benchmark. According to the bank, its name is derived from the Indus Valley Civilisation.
As of 31 December 2018, IndusInd Bank had 1,558 branches, and 2453 ATMs spread across different geographical locations of the country. It also has representative offices in London, Dubai, and Abu Dhabi. Mumbai has the maximum number of bank branches followed by New Delhi and Chennai. The bank has also proposed to double the branches count to 1200 by March 2019.
The bank began its operations on 17 April 1994 under the chairmanship of S.P. Hinduja with the primary objective of serving the NRI community.
IndusInd Bank has appointed Sumant Kathpalia as the Managing Director and CEO with effect from Tuesday for a period of three years. The appointment was announced as Romesh Sobti retired as the MD & CEO of the Bank on Monday after a 12-year stint.
In a regulatory filing on Monday evening, the bank said that Kathpalia would take charge as 'Additional Director' on Tuesday and would be designated as MD and CEO.
Yes Bank
Yes Bank is a private sector bank operating in India. It is an Indian private sector bank, founded in 2004 by Rana Kapoor and Ashok Kapoor. It functions primarily as a corporate bank, with retail banking, and asset management as a subsidiary. Prashant Kumar, former Chief Finance Officer of State Bank of India, has been appointed as its new CEO and Managing Director.
Between April 2018 and June 2018, Yes Bank had invested Rs 3,700 crore in short-term debentures by Yes Bank's former CEO Rana Kapoor. According to the CBI FIR, Wadhawan allegedly paid a bribe of Rs 600 crore to Kapoor and his family as a loan. On 8 May 2020, the CBI special court sent DHAFL campaigner Kapil Wadhavan and RKW Developers campaigner Dheeraj Wadhavan to CBI custody till 10 May 2020. Along with this, former CEO and co-founder Rana Kapoor is also involved in this scam.
On March 5, 2020, the Reserve Bank of India took all control of this bank, which was heavily debt-ridden, to prevent its closure. Subsequently, the Reserve Bank named Prashant Kumar, former Chief Financial Officer of SBI, as the MD and CEO of Yes Bank.
Courtesy:-Gadgets Today
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