Top 10 Leading Foreign Banks in India
India’s banking sector is on a vivid boom currently. It is attracting quality banking services from across the globe. Reserve Bank of India, reports that there are over 41 foreign banks in the country currently.
Keeping that in mind, we have made a list of top 10 foreign banks in India, which offer better services than Indian Banks.
Despite several restrictions, foreign banks in India have succeeded in establishing a brand name amongst its users. They are known for their professionalism, exclusive offers and high interest rates.
List Of Top 10 Best Foreign Banks In India
This is amongst the oldest foreign banks in India which established its first branch in 1902. Citi Bank has over 48 branches across the country and a total of 750 branches in the world.
It is the largest foreign bank working in India, with 7500 employees. It is headquartered in Mumbai.
Citi Bank dominates India’s banking sector, with a good margin, with an over 7 million customers.
They offer quality banking services from credit and debit cards to loans to automobile finance. It is a US based bank which is used by majority of NRI population of the country.
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Standard Chartered Bank
SCB is the most customer friendly foreign banks in India, which was founded in 1969 in London.
Currently they have more than 102 branches, which make it the largest foreign bank in India in terms of branches.
Standard Chartered Bank is the second-best bank in list of top 10 international banks in India. It is the second most popular bank in the list of top foreign banks in India 2017.
Consumer banking, credit and debit cards, corporate banking and loans are some of the services provided by the bank.
HSBC (The Hongkong and Shanghai Banking Corporation) is the third most successful bank in the list of top 10 international banks operating in India.
They have over 50 branches which are spread throughout the nation. It is amongst the most popular foreign banks in India which is headquartered in London, UK. It has over 4000 offices in the world as of 2014, according to Wikipedia.
HSBC introduced the first ever ATM in India in 1987. HSBC has also acquired another bank name – The Mercantile Bank of India, and laid its foundation in the country.
It is the fourth biggest name in the list of top 10 international banks operating in India. This is amongst the most popular foreign banks in India with over 5 million customers, around the world.
Deutsche Bank officially entered the country in 1980 with its corporate office based out at Mumbai.
It is amongst the leading foreign banks, in India, which offers services like NRI Banking, Corporate Banking and Personal Banking etc. Deutsche has 17 branches spread across the country.
Royal Bank of Scotland
As the name suggests it’s the most prestigious foreign banks in India. Royal Bank of Scotland was established in India in 1921, and has been serving the country for almost a century now.
It is amongst the most controversial international banks in India with 700 branches in the world and 10 in India.
Recently they dropped their industrial loans services in India. Their core functional area comprises of foreign exchange, financial advisory, share market, transaction banking etc.
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Development Bank of Singapore is known for its world class services which makes it the sixth best foreign banks in India. It has been serving Indian users since the year 1968 when this banking giant entered the market.
It is headquartered in Mumbai. This privilege bank comes in handy for NRI users and tourists in the process of Money exchange, offering smooth transaction with hassle free services.
They offer services like credit cards, housing loans and Investment Banking etc. The bank has 8 premium branches in India which are spread throughout the country.
Barclays is amongst the fastest growing banks, in India. The bank has been in the country for over 3 decades now and has over 5 branches in the country.
Barclays is amongst the most popular foreign banks in India, which has given employment opportunity to thousands of people.
They are known best for their commercial and personal banking services, world class services and banking products, which aims at presenting treasury solutions to its customers.
They have a followership of over 9 million clients worldwide. They specialize in NRI banking, trade services, loans, treasury solution and finance etc.
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Bank of America
This is amongst the best foreign banks in India, which is based in America. This bank simply represents the enhancing love between the two nations through Banking Industry in India.
Bank of America entered Indian grounds in 1964 and since has established 5 branches across the country in New Delhi, Chennai, Bangalore and Kolkata. It’s headquartered in Mumbai, Maharashtra. They are the second most influential bank as market capitalization in America.
Bank of Bahrain and Kuwait
Bank of Bahrain and Kuwait is amongst the most well known foreign banks in India, which is based in Middle Eastern region.
The bank established its first branch in India in 1971 and since then have 3 branches and one ATM.
Their world class banking services despite their limited branches makes up for the bank and has helped them in getting their name in the list of leading foreign banks in the country.
Doha Bank entered Indian banking sector only recently in 2014, and is amongst the fastest growing foreign banks in India.
They established their first branch in Mumbai, Maharashtra. Currently they have two branches in the country one in Mumbai and other in Kerala.
Doha Bank aims at becoming one of the leading financial institutions, in the country. It provides services like money exchange, corporate banking and trade services extra.
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Wrapping It Up
Country’s banking industry is on a rapid boom currently, thanks to the demonization in the country, more people are adapting to the modern means of exchanging money through digital banking services.
These are some of fastest growing banks; in India which are able to maintain a brand name, despite their limited branches in the country.