The profile of the top 10 Indian banks has changed dramatically over the past couple of decades. Previously, the top five spots in The Banker’s Top 1000 World Banks ranking were held by the state-controlled public sector banks (PSBs), but that is no longer the case.
While State Bank of India (SBI) maintains the top position, the new private sector banks that were established during India’s mid-1990s economic liberalisation phase, HDFC Bank, ICICI Bank and Axis Bank, now occupy the next three spots. In a unique achievement, all Indian PSBs have declared profits this year, although SBI and Bank of Baroda (BoB) stand apart on their consistent performance over the years.
