A bank is a financial institution and an intermediary which accepts and channelize the deposits as well as lending made in to it through capital markets. A bank is the most important asset to the nation as it is the interface between customers and the capital. Banks help the entire nation in the case of emergencies and moreover in any financial crunch, a person is benefited through the savings made in it. Here are the list of private banks in India which tops this year as per their status and growth.
10.) Jammu & Kashmir Bank
The Bank was founded on 1st October 1938 and funded by the then Maharaja of J&K, Hari Singh. The bank started business on July 4, 1939. This is was the firsy state owned bank of its kind and privately funded bank of India. The bank faced severe problems just after the independence because its three branches Muzzaffarabad, Rawalakot and Mirpur fell in to the other side of LOC (line of control) now in Pakistan administered Kashmir, along with total cash and other assets. In recent times, Dr Haseeb Drabu was the chairman and chief executive of bank from 2005-2010. Traded as NSE: J&KBANK, BSE: 532209, it is a financial servicing bank with headquarters in Srinagar. The present Chairman and CEO of the bank is Mushtaq Ahmed. The key features of bank includes Credit cards, Customer banking, finance and insurance, mortgage loans and private banking. It has a employee strength of around 9000.
9.) Federal bank
One of the major bank funded privately in India is Federal Bank, a kind of commercial bank with its headquarters at Aluva, Kochi, Kerala. Presently bank has its more than 1000 branches all over India. Founded in Kochi in the year 1945, the bank trades as NSE: FEDERALBNK, BSE: 500469 and LSE: FEDS. The Present CEO of the bank is Shyam Srinivasan. The main features of the bank includes Loans and Savings.
8.) Induslnd bank
The Mumbai based bank of India is a new generation bank established in 1994. The bank’s main feature include commercial banking, transactions, electronic banking products and services. The bank is owned by Hinduja Groups. The headquarters of bank is in Mumbai, Maharashtra, India. The recent revenue went about US $90.15 millions which in approximately Rs. 3260.47 crore in Indian Currency. One of the main slogans used by the bank is ” We care… dil se and we make you feel richer “.
7.) Dhanlaxmi bank
One of the oldest private sector bank in India having its headquarters in Thrissur City, Kerala, India. Founded in the year 1927, the bank was established with the motto of focusing mostly on Southern states like Karnataka, Tamil Nadu, Andhra Pradesh and Kerala but to the present scenario the bank is looking to expand its empire in entire India. Trades as BSE: 532180, NSE: DHANBANK), the bank key features include its services in banking and financial services with those of insurances. The company is headed by GN Bajpai and PG Jayakumar. Today, the bank owns 275 branches and 404 ATM’s spread over many states.
6.) ING Vysya Bank
A Bangalore based private and retail, commercial bank was formed in year 2002 with the merge of Dutch ING Group and Indian Vysya bank and now ING-Group subsidiary Belgian Bank Bruxelles Lambert. This was the first merger made between an Indian bank and foreign bank. The bank’s headquarters is located in Bangalore, India. The CEO and MD at present is Shailendra Bhandari and the Chairman of the Board id Arun Thiagarajan. The current revenue recorded was US $320 million. The total assets possessed by the bank costs around US $8.43 billion. The employee strength is approximately 6500. the bank trades as BSE: 531807.
5.) Yes Bank
A private bank of India, founded by Late Mr. Ashok Kapur. The bank trades as Private (BSE: 532648) since year 2003-04. The bank is having its headquarters in Mumbai, India. The CEO and MD of the bank is Dr Rana Kapoor. The key features include corporate, institutional banking, financial markets, investments banking and NRI banking as well.
4.) AXIS Bank
A public private sector bank founded in year 1994 and first branch was inaugurated in April 1994 in Ahmadabad by Dr. Manmohan SIngh, then the honorable Finance Minister. The bank, as on 31st March 2012 is estimated to have Rest. of around Rs.413.20 crores with the public holding at 54.08%.
3.) KOTAK Mahindra Bank
An Indian financial service private bank in India founded in the year 1985 as Kotak Mahindra Finance Ltd, the then a non-banking ffinancial ltd. In year 2003, the company was given the banking license to carry on banking business by the Reserve Bank of India(RBI). In the history of banking, this was the first company to be converted to bank. The net revenue for the current was recorded about Rs. 10.963 crore for year 2011 and the net income grossed around Rs. 1569 crore. The Vice Chairman and MD of the Bank is Uday Kotak.
2.) HDFC Bank
The financial bank of India, privately funded and founded in the year 1994, with the headquarters in Mumbai, Maharashtra, India. The area covered by the bank is worldwide and the MD of the bank is Aditya Puri. The products issued by the bank is Credit cards, consumer banking, corporate banking, insurance investment banking. The bank trades as BSE: 500180, NSE: HDFCBANK, NYSE: HDB and BSE SENSEX Constituent. The recent revenue collection was US $ 6.480 billion for year 2012 and the profit was grossed about US $ 977 million. The employee count is 66076 (2012) and the net assets possessed by the bank is US $ 7.754(2012).
1.) ICICI Bank
The bank which tops the list is ICICI bank. It is an Indian diversifies financial service bank with the headquarters in Mumbai, India. The bank was founded in year 1955 and serves worldwide. In India, the chairman of the bank is K.V.Kamath and MD and CEO of the bank if Chanda Kochhar. The bank includes the features of all banking products and provides banking in each and every sectors. The bank has its subsidiaries in UK, Russia, Canada and many branches in USA, Singapore, Bahrain, Hon-Kong, Sri Lanka, Qatar and Dubai. Taking concern of the bank’s the recent revenue for the year 2011 it was US $ 13.812 billion and the total assets owned by the bank is US $ 119.69 billion with the total equity of US $ 12.401 billion. The total number of employees employed was 79,978 for the recent year 2011 which had grossed to new heights in year 2012.