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Banking in India originated in the last decades first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.
The Indian banking sector has emerged as one of the strongest drivers of Indias economic growth. The Indian banking industry (US$ 1.22 trillion) has made outstanding advancement in last few years, even during the times when the rest of the world was struggling with financial meltdown. India's economic development and financial sector liberalization have led to a transformation of the Indian banking sector over the past two decades.
SBI
State Bank of India (SBI) (NSE: SBIN, BSE: 500112, LSE: SBID) is the largest banking and financial services company in India by revenue, assets and market capitalisation. It is a state-owned corporation with its headquarters in Mumbai, Maharashtra. As of March 2012, it had assets ofUS$360 billion and 14,119 branches, including 173 foreign offices in 37 countries across the globe. Including the branches that belong to its associate banks, SBI has 21,500 branches. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banksBank of Calcutta and Bank of Bombayto form the Imperial Bank of India, which in turn became the State Bank of India. The Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI has been ranked 285th in the Fortune Global 500 rankings of the world's biggest corporations for the year 2012.[1]
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ICICI
ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) is an Indian diversified financial services company headquartered inMumbai, Maharashtra. It is the second largest bank in India by assets and third largest by market capitalization. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,772 branches and 9,364 ATM's in India, and has a presence in 19 countries, including India.[2]
Key people
PNB
Punjab National Bank (PNB) (BSE: 532461, NSE: PNB) is an Indian financial services company based in New Delhi, India. PNB is the third largest bank in India by assets. It was founded in 1894 and is currently the second largest state-owned commercial bank in India ahead of Bank of Baroda with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers Almanac, London. The bank's total assets for financial year 2007 were about US$60 billion. PNB has a banking subsidiary in the UK, as well as branches in Hong Kong, Dubai and Kabul, and representative offices in Almaty, Dubai, Oslo, and Shanghai.
Key people
HDFC
HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an Indian financial services company based in Mumbai, Maharashtrathat was incorporated in August 1994. HDFC Bank is the fifth or sixth largest bank in India by assets and the second largest bank by market capitalization as of February 24, 2012. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. As on October 2012, HDFC Bank has 2,544 branches and over 10,000 ATMs, in 1,399 cities in India, and all branches of the bank are linked on an online real-time basis. As of 30 September 2008 the bank had total assets of Rs.1006.82 billion.[3] For the fiscal year 2010-11, the bank has reported net profit of 3,926.30 crore (US$714.59 million), up 33.1% from the previous fiscal. Total annual earnings of the bank increased by 20.37% reaching at 24,263.4 crore (US$4.42 billion) in 2010-11.[4] HDFC Bank is one of the Big Four banks of India, along with: State Bank of India, ICICI Bank and Punjab National Bank.
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BANK OF BARODA
Bank of Baroda (BoB) (BSE: 532134) (Hindi: ) is the highest profit-making public sector undertaking (PSU) bank in India and the second largest PSU bank in terms of number of total business in India. Based in Vadodara, India,it is the country's first largest public sector lender in terms of annual profit.[4][5][5][6] BoB is ranked 715 on Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of 4007 branches (out of which 3914 branches[7] are in India) and offices, and over 2000 ATMs. It plans to open 400 new branches in the coming year.[when?] It offers a wide range of banking products and financial services to corporate and retail customers through its delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, credit cards and asset management. Its total global business was Rs. 6,722.48 billion as of 31 March 2012.[8] Its headquarter is in Vadodara and corporate headquarter is in Bandra Kurla Complex Mumbai.
Key people
Founde d in (year)
Owners hip
H.Q.
No. of ATMs
Interest Rate
Basic
SBI
1955
Govern ment
Mumb ai
1600 0
2703 2
37
36.950 billion
3.202 billion
359.237 billion
292215
9.75%
ICICI
1955
Private
Mumb ai
288 3
1002 1
19
13.52 billion
1.597 billion
93 billion
81254
9.75%
HDFC
1994
Private
Mumb ai
262 0
1036 1
6.487 billion
978.3 billion
70.17 billion
66076
9.80%
PNB
1896
Govern ment
New Delhi
569 7
6050
10
6.63 billion
888.89 million
70 billion
56000
10.50%
BOB
1908
Govern ment
Vado dara
400 7
2000
24
5.4 billion
911.09 million
65 billion
42631
10.50%