10 Foreign Banks with Maximum Branches in India
Bangalore: According to Reserve Bank of India 2012 data number of foreign banks in India sums up at 41 foreign banks, 26 state-run lenders and 20 private-sector banks in the country. Despite many restrictions foreign banks continue to visit the country and open branches almost in each and every state. Kalpana Morparia, India CEO of J.P. Morgan explains the reason behind as, "The Indian banking sector is well regulated and offers considerable access to foreign banks", quoted Business Today.
Here are 10 Major foreign banks listed by Yahoo which constitute the maximum number of branches in India as of April 30, 2012.
1. Standard Chartered BankNo. of branches in India: 96
Initially commenced in Africa, The Standard Bank merged with Chartered Bank of India in the year 1969. It has approximately 96 branches across the country and is among one of the big foreign bank operators in banking and financial services in India. Presently headquartered in London, United Kingdom, Standard Chartered Bank operates in consumer, corporate and institutional banking, and treasury services.
2. HSBCNo. of branches in India: 50
Headquartered in London, United Kingdom HSBC Holdings is the third largest publically owned bank and sixth largest public company. In 1959 HSBC acquired The Mercantile Bank of India which laid the foundation for HSBC to come to India. HSBC is credited with the tag of giving India its first ATM in 1987. It has approximately 50 branches across the country.
3. CitibankNo. of branches in India: 42
Holding a history of 109 years Citibank is one of the oldest foreign banks in India. The bank started operating in India in the year 1902 in Kolkata, West Bengal. It is the leading foreign direct investor in financial services in India with approximately $4 billion capital commitment in its onshore and banking and other financial services. It has almost 42 branches across 40 cities of India along with more than 700 ATMs.
4. The Royal Bank of ScotlandNo. of branches in India: 31
The bank's history in India goes back to 1921 and at present have around 31 branches across the country and over 700 branches across the globe. The core functional area of the bank comprises foreign exchange, interest rates, commodities, debt capital markets, bank financing, financial advisory and transaction banking etc.
5. Deutsche BankNo. of branches in India: 16
The history of Deutsche Bank in India goes back to the year 1980. Presently the bank has about 16 branches operating in 15 states across the country. Deutsche Bank is a fully integrated financial services provider to Indian corporate, institutional and individual clients. The corporate headquarter of India is at Mumbai, Maharashtra and along with banking services also provides financial services to private customers, self-employed clients as well as small and medium-sized businesses internationally.
6. DBS BankNo. of branches in India: 12
Previously known as the Development Bank of Singapore Limited, The DBS Bank was started by the Government of Singapore in June 1968. The bank has around 12 branches in India within cities comprising Chennai, Kolkata, Bangalore, Mumbai, Kolhapur, Nashik, Cuddalore, Moradabad, Pune, Salem, Surat and Delhi. It also owns 37.5 percent stakes in DBS CHolamandalam, a financial institution.
7. Barclays BankNo. of branches in India: 10
The Barclays Bank India includes over 9 lakh clients who consists of multi national companies, public sector companies and a large number of small and medium enterprises as well as individuals. The bank has around 10 branches in India and providing number of services like loan banking, NRI banking, commercial banking etc. Services like trade, finance, loans, deposits and treasury solutions are also provided to the customers.
8. BNP ParibasNo. of branches in India: 8
Headquartered in Paris, BNP Paribas is a French global banking group. After Deutsche and HDFC, PNB Paribas was ranked the third largest bank in the world according to Forbes and Bloomberg in 2012. Basically the bank provides services in three sectors, i.e. retail banking, corporate and investment banking and investment solutions. BNP Paribas has around 8 branches in India.
9. Credit Agricole Corporate and Investment BankNo. of branches in India: 6
Credit Agricole CIB came to India in the year 1981 and presently has branches in Bangalore, Chennai, Delhi, Mumbai and Pune. Credit Agricole CIB is an investment banking institutions operating across 58 countries including India. The Credit Agricole CIB has clients mainly from corporates, governments, and banks, with a small footprint in the investor segment. A Credit Agricole CIB line within the most important foreign banks in India in its nucleus businesses includes Fixed Income Markets, Export and Trade Finance, Project Finance and Acquisition Finance.
10. Bank of AmericaNo. of branches in India: 5
Bank of America started functioning in India through its Mumbai branch in 1964. The India headquarter of the bank is in Mumbai, with five branch offices across Mumbai, New Delhi, Kolkata, Chennai, and Bangalore. Bank of America is the biggest bank holding company in the United States, as per assets, and the second largest bank as per market capitalization.
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