The Indian banking sector is driven by both government (public sector) and private sector banks (PSBs). Data from the Bombay Stock Exchange (BSE) provides insights into the sector’s financial health and dominance.
MARKET CAPITALIZATION OF PUBLIC SECTOR BANKS: State Bank of India (SBI) remains the largest government bank by market capitalization, currently valued at Rs 793,576 crore. Bank of Baroda (BoB) and Punjab National Bank (PNB) follow, with market capitalizations of Rs 129,439 crore and Rs 128,223 crore, respectively. Indian Overseas Bank (IOB) and Union Bank also have significant market values of Rs 121,750 crore and Rs 103,511 crore.
Canara Bank’s market capitalization is Rs 102,362 crore, while Indian Bank’s is Rs 75,483 crore. UCO Bank’s market capitalization stands at Rs 65,901 crore, and Bank of India’s is Rs 55,018 crore. Central Bank of India is valued at Rs 54,325 crore, followed by Bank of Maharashtra (Rs 46,489 crore) and Punjab & Sind Bank (Rs 42,957 crore).
MARKET CAPITALIZATION OF PRIVATE BANKS: HDFC Bank leads private sector banks with a market capitalization of Rs 1,222,701 crore. ICICI Bank follows with Rs 878,531 crore, while Axis Bank and Kotak Mahindra Bank hold strong positions with Rs 399,383 crore and Rs 362,185 crore, respectively. Other notable private banks include IndusInd Bank and IDBI Bank, with market capitalizations of Rs 111,279 crore and Rs 95,567 crore. Yes Bank’s market value is Rs 77,649 crore, and IDFC First Bank’s is Rs 56,840 crore.
TOTAL ASSETS OF BANKS: SBI again leads public sector banks with total assets of Rs 6,179,693 crore. Bank of Baroda and Punjab National Bank follow with Rs 1,585,797 crore and Rs 1,561,835 crore, respectively. Canara Bank and Union Bank also have substantial asset bases of Rs 1,491,540 crore and Rs 1,391,957 crore.
Bank of India holds total assets of Rs 912,597 crore, and Indian Bank’s total assets are Rs 792,619 crore. Central Bank of India has Rs 446,672 crore in total assets, and Indian Overseas Bank holds Rs 352,033 crore. UCO Bank’s total assets are Rs 323,691 crore, while Bank of Maharashtra has Rs 307,137 crore. Punjab & Sind Bank holds Rs 147,656 crore in total assets.
In the private sector, HDFC Bank tops the list with total assets of Rs 3,617,623 crore. ICICI Bank and Axis Bank follow with Rs 1,871,514 crore and Rs 1,477,208 crore, respectively. Kotak Mahindra Bank and IndusInd Bank also have strong asset bases of Rs 600,357 crore and Rs 514,935 crore.
PROFITABILITY IN THE BANKING SECTOR
NET PROFIT OF PRIVATE BANKS: HDFC Bank is the most profitable private bank, with a net profit of Rs 60,812 crore for 2023-24. ICICI Bank and Axis Bank follow with net profits of Rs 40,888 crore and Rs 24,861 crore, respectively. Kotak Mahindra Bank, with Rs 13,781 crore and IndusInd Bank, with Rs 8,949 crore also show significant profitability. Federal Bank’s net profit is Rs 3,720 crore, while JK Bank’s is Rs 1,767 crore.
NET PROFIT OF PUBLIC SECTOR BANKS: Public sector banks collectively earned a profit of Rs 141,203 crore in the financial year 2023-24, a significant 35% increase from Rs 1,04,649 crore in 2022-23. SBI led with a net profit of Rs 61,077 crore, accounting for 43.25% of the total PSBs’ profit. PNB saw the most substantial increase in profit, rising by 228%. Bank of Baroda follows with Rs 17,788 crore, Canara Bank with Rs 14,554 crore, and Union Bank of India with Rs 13,648 crore in net profit for 2023-24.
Indian Bank’s net profit is Rs 8,062 crore, and Bank of India’s is Rs 6,317 crore in 2023-24. Bank of Maharashtra has a net profit of Rs 4,055 crore, while Indian Overseas Bank’s is Rs 2,655 crore. Central Bank of India has a net profit of Rs 2,549 crore, and UCO Bank’s is Rs 1,653 crore. Punjab & Sind Bank’s net profit is Rs 595 crore.
The data on market capitalization, total assets, and net profits highlight the dominance and financial strength of both public and private sector banks in India. SBI and HDFC Bank lead their respective sectors, demonstrating substantial growth and profitability. As the Indian economy evolves, these banks remain crucial in driving financial inclusion, economic development, and stability in the financial system. The upward trends in profits and assets indicate a resilient banking sector poised for continued growth.
By, Santosh Chaubey, a Senior Journalist with DDNews