Top 10 Banks in India 2026

State Bank of India crossed the ₹80,000 crore profit mark in FY26.

The country’s largest lender bagged a record net profit of ₹80,032 crore for the year. HDFC Bank followed with ₹74,670 crore, while ICICI Bank earned more than ₹50,000 crore.

Great numbers, right? But they won’t tell you which bank to pick for your salary account, your shop’s current account or your business’s working capital needs. Scale matters for safety and reach. Service, digital banking and pricing matter for day-to-day banking.

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The rankings keep shuffling too. SBI overtook ICICI Bank in market capitalization in April 2026, only for ICICI Bank to move back ahead by October 20, 2026, at about ₹9.91 lakh crore against SBI’s ₹8.99 lakh crore. Public sector banks earned record profits on cleaner books, while some private banks didn’t have their best year.

This guide looks at the top 10 banks in India for 2026. It uses FY26 results (the year ended March 31, 2026), deposits, branch networks and market value, so you can see where each bank stands and who it suits best.

Figures come from FY26 results and public market data as of October 2026. Rates, fees and products change often, so check with the bank before opening an account.

Why the Right Bank Matters for Customers and Businesses

Safety of Your Money

Each of the top 10 banks in India is regulated by the Reserve Bank of India, and DICGC insures deposits at each up to ₹5 lakh per depositor. Above that, it comes down to the bank’s own financial health. Capital adequacy and bad-loan ratios show how well a bank can absorb shocks.

Access to Credit

Whether you need a home loan, a credit card or a working capital limit, your bank plays a big role, for individuals and businesses alike. Banks with strong balance sheets and growing loan books usually lend faster and price more sharply.

Digital Convenience

Digital banking plays a huge role these days, and most retail transactions in India now happen on apps and UPI. A bank with a reliable app, quick dispute handling and easy online account opening can save you hours every month, especially if you run a small business that collects payments digitally.

Reach Beyond the Metros

A physical presence still matters to many people. Branches handle cash deposits, government-scheme accounts, lockers and complex loans. If you live or trade outside the big metros, a bank with a deep local network makes a real difference.

Top 10 Banks in India at a Glance

Top 10 Banks in India (2026)

Let’s look at how the top 10 banks in India compare on scale, FY26 performance and what they do best.

1. State Bank of India

State Bank of India traces its roots to the Bank of Calcutta, founded in 1806, and took its present form in 1955. Headquartered in Mumbai, SBI is India’s largest bank by deposits, loans and branch network. It runs about 245 overseas offices in 29 countries, and its total business crossed ₹109 lakh crore in FY26.

SBI had a record-breaking run in FY26. Net profit rose 12.88% to ₹80,032 crore, and deposits stood at about ₹59.76 lakh crore. Advances grew 16.87%, and gross NPAs improved to 1.49%. Its YONO app reached 10.02 crore registered users, and 66% of new savings accounts in FY26 were opened through YONO.

Key Banking Solutions
✔ Savings, salary and pension accounts
✔ Home, education and MSME loans
✔ YONO digital banking and UPI
✔ NRI and international banking

Best for: Customers who want maximum reach, government-scheme accounts and competitive home loans.

2. HDFC Bank

HDFC Bank was established in 1994 and has its headquarters in Mumbai. India’s largest private sector bank is also the country’s most valuable listed bank, worth about ₹10.98 lakh crore in market capitalization as of October 20, 2026. Its 2023 merger with parent HDFC Ltd also made it one of the largest home-loan lenders.

Net profit rose 10.9% to ₹74,670 crore in FY26. The balance sheet grew to ₹43.65 lakh crore, deposits rose 14.4% to ₹31.05 lakh crore, and advances stood at ₹29.60 lakh crore. As of December 31, 2025, the bank had 9,616 branches and 21,176 ATMs across 4,170 cities and towns. In July 2026, the RBI approved Rajiv Kumar as its part-time chairman.

Key Banking Solutions
✔ Retail loans and credit cards
✔ Home loans after the HDFC merger
✔ Current accounts and business banking
✔ Wealth and private banking

Best for: Salaried professionals and businesses that want a wide product range with strong digital service.

3. ICICI Bank

Founded in 1994, ICICI Bank is India’s second-largest private bank, with its corporate office in Mumbai. As of March 31, 2026, it had standalone total assets of ₹23.73 lakh crore, deposits of ₹17.95 lakh crore and 7,511 branches, 528 of them opened in FY26 alone. It also runs 12,087 ATMs and cash recyclers.

ICICI Bank made a standalone net profit of ₹50,147 crore in FY26, up 6.2% over the previous year, and a consolidated net profit of ₹54,208 crore. Loans grew 15.8%. Its asset quality is among the best in the industry, with a gross NPA ratio of 1.40% and a net NPA ratio of 0.33%. As of October 20, 2026, it was India’s second most valuable bank.

Key Banking Solutions
✔ iMobile app and digital account opening
✔ Retail, business and corporate loans
✔ NRI banking and remittances
✔ Cards, insurance and investments

Best for: Tech-savvy customers, NRIs and businesses that want fast digital processes.

4. Axis Bank

Axis Bank was promoted in 1993 and started operations in 1994. Its corporate office is in Mumbai. India’s third-largest private bank had 5,876 branches, 13,941 ATMs and cash recyclers, and close to 59 million customers as of March 31, 2025.

The bank posted good growth in FY26, but profit suffered. Deposits rose 14% to ₹13.36 lakh crore, and advances grew 19% to ₹12.34 lakh crore. Net profit fell 7% to ₹24,457 crore, partly because of a one-time precautionary provision of ₹2,001 crore in Q4. Gross NPAs improved to 1.23%.

Key Banking Solutions
✔ Salary and premium savings accounts
✔ Credit cards and retail loans
✔ SME and corporate banking
✔ NRI accounts (NRE, NRO, FCNR)

Best for: Salaried customers, NRIs and mid-sized businesses that want a full-service private bank.

5. Kotak Mahindra Bank

Founded by Uday Kotak in 1985, Kotak Mahindra Bank started off as a finance company. In 2003, it became the first NBFC in India to convert into a bank. It’s headquartered in Mumbai, led by MD and CEO Ashok Vaswani, and was India’s fourth-largest bank by market value in October 2026.

Kotak’s FY26 standalone net profit grew 14.85% to ₹14,008 crore. Deposits rose 15% to ₹5.72 lakh crore, with a CASA ratio of 43.3%. Its capital adequacy ratio of 22.40% is among the highest of any large bank, and gross NPAs fell to 1.20%. Its 811 digital account, launched in 2017, remains a popular first account.

Key Banking Solutions
✔ Kotak 811 digital savings account
✔ Wealth management and private banking
✔ Personal, home and business loans
✔ Investment and insurance products

Best for: Digital-first customers and investors who value a well-capitalized bank.

6. Bank of Baroda

Bank of Baroda was established in Vadodara in 1908 and nationalized in 1969. It has one of the largest international networks among Indian banks, and it opened its first branch outside India in Mombasa in 1953. Total business rose 13.9% to ₹30.78 lakh crore at the end of FY26.

The bank earned a record net profit of ₹20,021 crore in FY26. Global deposits rose 12% to ₹16.48 lakh crore, and global advances grew 16.2% to ₹14.30 lakh crore. Advances abroad jumped 24.4%. Gross NPAs improved to 1.89% from 2.26% a year earlier.

Key Banking Solutions
✔ Savings and NRI accounts
✔ Retail loans, which grew 17.9% in FY26
✔ MSME and corporate lending
✔ Trade finance and overseas banking

Best for: Customers and exporters who need a strong domestic network plus cross-border banking.

7. Punjab National Bank

Founded in Lahore in 1894, Punjab National Bank is now headquartered in New Delhi. Its merger with Oriental Bank of Commerce and United Bank of India in April 2020 made it one of the largest public sector banks in the country, with more than 10,000 branches.

PNB made its highest-ever annual profit in FY26: ₹16,904 crore. Global business grew 10.7% to ₹29.70 lakh crore, and deposits stood at ₹17.11 lakh crore. Its books keep getting cleaner. Gross NPAs fell 100 basis points to 2.95%, net NPAs declined to 0.29%, and capital adequacy rose to 17.74%. MSME loans grew 19.9%.

Key Banking Solutions
✔ Savings, pension and scheme-linked accounts
✔ MSME and agriculture loans
✔ Home and vehicle loans
✔ Government business and deposits

Best for: Customers in north India, farmers and MSMEs that rely on branch banking.

8. Canara Bank

Canara Bank was founded in Mangalore in 1906 by Ammembal Subba Rao Pai and nationalized in 1969. Its head office is in Bengaluru, and it took over Syndicate Bank in April 2020. The bank has a strong base in south India and a large presence in semi-urban and rural areas, with more than 10,000 branches.

Net profit in FY26 rose about 12.7% to ₹19,187 crore. Deposits increased to ₹15.69 lakh crore, and gross advances rose to ₹12.20 lakh crore. Asset quality improved substantially. Gross NPAs fell to 1.84% from 2.94% a year earlier, and the provision coverage ratio stood at 94.21%.

Key Banking Solutions
✔ Retail loans for homes and vehicles
✔ MSME and agriculture lending
✔ Savings and term deposits
✔ Digital banking and UPI

Best for: Households and small businesses in south India and non-metro towns.

9. Union Bank of India

Union Bank of India was founded in Mumbai in 1919, and it’s still headquartered in the city. Andhra Bank and Corporation Bank were merged into it in April 2020. Today it has more than 8,700 domestic branches, 8,800 ATMs and 28,600 business correspondent points, with over 74,000 employees.

Net profit in FY26 rose about 3.9% to ₹18,697 crore, and total business grew to ₹23.85 lakh crore. Gross NPAs fell 78 basis points to 2.82%, and the capital adequacy ratio stood at 18.10%. The bank has been a driving force for financial inclusion. At the end of FY26, it held 3.40 crore Jan Dhan accounts.

Key Banking Solutions
✔ Savings and Jan Dhan accounts
✔ Retail, agriculture and MSME loans
✔ Government-scheme banking
✔ Corporate and treasury services

Best for: Customers in semi-urban and rural areas, and borrowers using government schemes.

10. IndusInd Bank

Founded in 1994, Mumbai-based IndusInd Bank is a mid-sized private lender with a ₹5.43 lakh crore balance sheet, 3,136 branches and banking outlets, and nearly 42 million customers. Rajiv Anand is its MD and CEO, and its vehicle finance business has been around for more than 35 years.

FY26 was a year of recovery for IndusInd Bank. Full-year profit dipped to ₹889 crore from ₹2,576 crore the year before, and deposits fell to ₹4.00 lakh crore. Still, the bank was back in the black in Q4, with a profit of ₹594 crore against a ₹2,329 crore loss a year earlier. Gross NPAs stood at 3.43%, and the capital adequacy ratio was 17.48%.

Key Banking Solutions
✔ Vehicle and microfinance loans
✔ Relationship and affluent banking
✔ Credit cards and personal loans
✔ Corporate and transaction banking

Best for: Vehicle buyers and customers who want relationship-led private banking.

How to Choose the Right Bank in India

Check Financial Strength

Being in the top 10 doesn’t make every bank equally strong. Check the gross and net NPA ratios and the capital adequacy ratio in a bank’s latest results. Low bad loans and a healthy capital buffer above the regulatory minimum point to a bank that can keep lending even if the economy slows down.

Match the Bank to Your Purpose

A salary account needs different features from a business current account or a home loan. Many customers keep one public sector bank for deposits and government schemes, and a private bank for everyday digital banking. There’s nothing wrong with having both.

Test the App and Digital Service

Before you commit, download the bank’s app and see how easy it is to open an account, book an FD, manage your cards and pay with UPI. If you own a business, check the payment gateway, bulk payments and how fast current account disputes get resolved.

Compare Charges and Rates

Look at what each bank charges for minimum balance, ATM use and loan processing, and what it pays on FDs. Even a slightly lower rate can save you lakhs over the life of a home loan, so compare the full cost of banking, not just the headline rate.

Consider Branch Reach

If you transact a lot in cash, need a locker or often travel to smaller towns, branch density matters. SBI, PNB, Canara Bank and Union Bank have some of the widest rural and semi-urban networks.

Look for Business Banking Strength

What working capital limits do they offer? What trade finance is available? Which MSME schemes can you use, and who will your relationship manager be? Business borrowers should ask these questions. Banks with strong MSME loan growth in FY26, such as PNB, are actively looking for these customers.

Frequently Asked Questions About the Top 10 Banks in India

Which is the No. 1 bank in India?

It depends on the criteria. SBI is number one on deposits, loans, branches and FY26 profit. HDFC Bank is the most valuable bank by market capitalization, at about ₹10.98 lakh crore as of October 20, 2026.

Is my money safe in these banks?

All 10 banks are regulated by the RBI, and DICGC insures deposits up to ₹5 lakh per depositor per bank. Beyond that, check the bank’s NPA and capital adequacy ratios, which every listed bank publishes with its quarterly results.

Are private banks better than public sector banks?

That depends on what you need. Private banks often lead on app experience and quick loan approvals. Public sector banks have far wider branch networks, access to government-backed schemes and often attractive home loan rates.

Which bank is best for small businesses?

Small businesses that deal mainly in digital payments tend to prefer HDFC Bank, ICICI Bank or Axis Bank. If your business relies on MSME loans under government schemes, SBI, PNB, Bank of Baroda or Canara Bank could be a good fit.

Conclusion

The top 10 banks in India finished FY26 stronger than they have been in years. Public sector banks posted record profits and much healthier loan books, while HDFC Bank, ICICI Bank and Kotak kept growing with solid asset quality.

The right choice comes down to what you need: reach, digital speed, business credit or a mix. Shortlist two or three banks from this list of the top 10 banks in India, compare their charges and apps, and pick the one that fits how you actually bank.

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