Chennai: Banks have become most important part of our daily lives where all our financial transactions are taken best care of.
Many financial institutions are gearing up to attract users by offering many incredible services be it loans with low interest rates or saving options upon shopping among many others. But only few succeeded in this rush hour of best banking services offered to the users. Here are the 10 best banks in India that were most preferred by the users in 2013 as compiled by Yahoo Finance.
Axis Bank is now the country's third-largest lender that has delivered growth with profitability and also with stunning consistency for several years. In last five years its advances grew up to 26 per cent, profits moved up to 37 percent and deposits rose at a compound annual rate of approximately 23 percent. In addition to these even the home loans have accounted for 64 percent of retail loans. "Our strategy has been to serve primarily Indian customers with a full suite of offerings," says Shikha Sharma, Managing Director and CEO as reported in Business Today.
After a gap of five years, HDFC Bank is back at top spot again thanks to high loan growth, good asset quality, a healthy capital adequacy ratio and due to improvement in returns on capital employed. HDFC Bank is an Indian financial services company based in Mumbai. It was established in 1994 and is the fifth largest bank in India when it comes to assets and the largest bank in market capitalization as of 2012. Housing Development Finance Corporation, a premier housing finance company of India has promoted this bank.
As of 2013, the bank had assets of 
4.08 trillion and a net profit of 69 billion which is around 31 percent from the previous fiscal year.
4.08 trillion and a net profit of 69 billion which is around 31 percent from the previous fiscal year.
JPMorgan is a multinational banking and financial services holding company in America. It is considered as the largest bank in the United States and the second largest bank in the world when it comes to assets which will be around $2.509 trillion. According to Forbes magazine it is the world's second largest public company which provides financial services. It has only one branch in India that offers cross-border fund raising, varieties of corporate and investment banking services and in addition to that mergers and acquisitions work. Since 2008, Indian companies have raised more than $20 billion both locally and overseas with the help of this bank.
IDBI Bank is a Mumbai based Indian finance Service Company. It was categorized as “other public sector bank” by RBI (Reserve Bank of India) and also one among 26 commercial banks that are owned by the government. IDBI Bank, was once a development finance institution which was then converted to a commercial lender around nine years ago. Cost-to-income ratio of the bank is around 0.36, which is the best in the industry. It is considered among top four banks in the country due to its operating profit per employee which is around 35 lakh.
35 lakh.
The Bank of Tokyo-Mitsubishi UFJ is considered as the largest bank in Japan, established in2006. The bank serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group. Its traditional client base includes Japanese corporate. The bank works with more than 1000 Japanese firms operating in India. But most of its India revenue comes from local clients. Thus Bank of Tokyo’s India revenue has reached up to 994.98 crore in 2012/13 from 394.71 crore in 2010/11. "It's important to know every minute detail about your clients if you want to be on top of things," says Enomoto the Regional Executive of Bank of Tokyo as reported by Business today.
994.98 crore in 2012/13 from 394.71 crore in 2010/11. "It's important to know every minute detail about your clients if you want to be on top of things," says Enomoto the Regional Executive of Bank of Tokyo as reported by Business today.
As the name itself says, it’s a bank company that provides financial support to the people. Bank of America is the second largest company in America by its assets and is headquartered in North Carolina. Range of services are offered by Bank of America and has stayed away from retail banking this is one of the main reason why it has no bad loans. "We are not likely to be in retail at least for the next two to three years," says its India country head Kaku Nakhate as reported by business today. Even the debt for Indian companies those buy foreign assets are arranged by this bank.
Deutsche Bank AG is a German based global banking and financial services company headquartered in Frankfurt. There are more than 100,000 employees in over 70 countries, and is largely present in Europe, the Asia Pacific, the Americas and other emerging markets. Along with the private and business clients the bank offers financial products and services for corporate and institutional clients. Few of the services include sales, trading, research and origination of debt and equity; mergers and acquisitions (M&A); risk management products among others. Bad loan coverage ratio of this bank is approximately 81.44 percent, which is higher than the mandatory 70 per cent.
HSBC Holdings is a British based multinational banking and financial services company which is headquartered in London. It is considered as one of the world's largest banks. HSBC is organized within four business groups which include: Retail Banking; Global banking and Markets (investment banking); Commercial Banking and Wealth Management; and Global Private Banking. HSBC India owes one of the lowest bad loan ratios which is around 0.33 percent of the total advances and the bad loan coverage ratio of the bank is at 81.43 percent, which is much higher than the mandatory 70 percent.
Ratnakar Bank, a private bank of India has almost 124 branches and currently is in the process of planning to add another 100 branches by 2015. It is headquartered in Maharashtra? Place?. Its balance sheet has reached up to 15,000 crore from 2,000 crore nowdays and the number of branches has increased to 160 from 89. From last three years, its advances and deposits have reached to an annual rate of more than 70 percent. Even the gross bad loans are less than one percent of the total advances. The bank is looking for regions away from cities for introducing new branches. While expanding retail loans it will be focusing simultaneously on developing banking and agriculture sector
15,000 crore from 2,000 crore nowdays and the number of branches has increased to 160 from 89. From last three years, its advances and deposits have reached to an annual rate of more than 70 percent. Even the gross bad loans are less than one percent of the total advances. The bank is looking for regions away from cities for introducing new branches. While expanding retail loans it will be focusing simultaneously on developing banking and agriculture sector
The Bank of Nova Scotia, usually known as Scotiabank, is the third largest bank in Canada when it comes to market capitalization and deposits. It serves almost 55 countries with approximately 21 million customers around the world and offers a variety of products and services which includes commercial, corporate, and personal and investment banking. Scotiabank shares trade on the Toronto and New York stock exchanges with assets of almost $743 billion. In 2013, the bank's deposits in India has moved up to 6,000 crore from 4,600 crore, while net profit is approximately 286 crore from 246 crore.
6,000 crore from 4,600 crore, while net profit is approximately 286 crore from 246 crore.
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