Top 10 Public Sector Banks in India 2015

Public Sector Banks are those banks in which a major part of stake is owned by the Government. Public Sector Banks keeps a strong hold on the banking sector in India and impact the economy of the country.

The history of Banking in India dates back to the year 1770, when the first bank was started. Presently, there are more than 100 banks operating in India and providing financial services to customers.

There are 27 public sector banks in India, which provide excellent and prompt services to customers. This post describes about the Top 10 Public Sector Banks in India 2015 by market capitalization:

1. State Bank of India

State Bank of India is the king among all public sector banks in India and leads this front. Incorportaed in the year 1955, State Bank of India presently has more than 13,000 branches in the country and over 190 foreign offices in the world.

State Bank of India is known for technologically advanced products and recently, SBI has launched SBIinTouch cards, which allow users to make payments by simply waving or touching card near contactless readers. These cards uses Near Field Communication Technology, in which card establish communication with contactless reader present in its proximity.

Headquartered in Mumbai, State Bank of India is the first bank to install ATM in Dras, a town located in Jammu and Kashmir. Apart from banking, SBI also provides services in fields like Life Insurance, General Insurance and Capital Markets through its subsidiaries.

Market Capitalization: Rs 2,10,302 Crore (As on 2nd June 2015)

2. Bank of Baroda

Bank of Baroda is the next public sector bank and stand at 2nd position in the list of top 10 best public sector banks in India 2015. Incorporated in the year 1908, Bank of Baroda has more than 100 branches and offices in 25 countries in the world.

Winner of Excellence in Banking (PSU Sector) Award, Bank of Baroda has a workforce of more than 49,000 employees. Also, Bank of Baroda is present widely across the nation with more than 5,000 branches.

Market Capitalization: Rs 36,194 Crore (As on 2nd June 2015)

3. Punjab National Bank

Next public sector bank is Punjab National Bank, which came into existence in the year 1894. Punjab National Bank has a strong presence with more than 6,000 branches in the country and 5 overseas branches.

Headquartered in New Delhi, Punjab National Bank has a workforce of more than 62,000 employees. Winner of Golden Peacock Award, Punjab National Bank perform Corporate Social Responsibility by organising blood donation camps, medical camps and tree plantation.

Market Capitalization: Rs 28,448 Crore (As on 2nd June 2015)

4. Canara Bank

Canara Bank is another leading public sector bank and placed at 4th in the list of top 10 best public sector banks in India 2015. Incorporated in the year 1906, Canara Bank owns more than 5,000 branches in India and 7 overseas branches.

Headquartered in Bangalore, Canara Bank has 8 subsidiaries operating in different domains and sponsors regional rural banks. Also, Canara Bank in partnership with UNEP (United Nations Environment Programme) started solar loan programme to provide financial assistance for installing solar power systems in homes in South India.

Market Capitalization: Rs 17,555 Crore (As on 2nd June 2015)

5. Central Bank of India

Central Bank of India is the next public sector bank, which was started in the year 1911 and among the oldest banks in India. Headquartered in Mumbai, Central Bank of India has a workforce of more than 40,000 employees.

Central Bank of India owns more than 4,000 branches in the country and among the first banks in India to launch credit cards in India.

Market Capitalization: Rs 17,445 Crore (As on 2nd June 2015)

6. Bank of India

6th position is occupied by Bank of India, a leading public sector bank started in 1906. Headquartered in Mumbai, Bank of India is a swiftly growing public sector bank and presently has more than 4,500 branches in India.

Market Capitalization: Rs 13,016 Crore (As on 2nd June 2015)

7. IDBI Bank

The Next Public Sector Bank is IDBI Bank, which was established in the year 1964 and in the last financial year, its income crossed the mark of Rs 29,000 Crore. Headquartered in Mumbai, IDBI has a workforce of more than 18,000 employees and over 1,600 branches in the country.

Market Capitalization: Rs 11,331 Crore (As on 2nd June 2015)

8. Union Bank of India

Union Bank of India is another swiftly growing public sector bank, which was incorporated in the year 1919. Union Bank of India in the financial year 2014-2015 generated profit of more than 1,600 Crore.

Winner of Express Uptime Champion Award 2014, Union Bank of India has a strong customer base in the country and employ more than 25,000 people.

Market Capitalization: Rs 11,075 Crore (As on 2nd June 2015)

9. Indian Bank

With a market capitalization of Rs 8,020 Crore, Indian Bank stand at 9th position in the list of top 10 best public sector banks in India 2015 and came into existence in the year 1907. Headquartered in Chennai, Indian Bank has overseas branches in Colombo and Singapore and owns 2 subsidiaries.

Market Capitalization: Rs 8,020 Crore (As on 2nd June 2015)

10. Syndicate Bank

10th position is occupied by Syndicate Bank, a public sector bank came into existence in the year 1925. Headquartered in Manipal, Karnataka, Syndicate Bank has opened more than 300 branches in this financial year and owns more than 3,300 branches in the country.

Market Capitalization: Rs 7,666 Crore (As on 2nd June 2015)