Leading Foreign Banks in India: The Top 10

We have covered Indian banks extensively in our posts. Now we present for your consideration an exclusive list of Top 10 Foreign Banks present within India with significant presence.

Liberalisation policies transformed India, revolutionising its economy over the course of a decade and revolutionising how private businesses operated within India’s economy. They were also key in opening India up to foreign investment for the first time ever – including some international banks that now have solid roots here. Let’s look at these five international banks which have established strong roots within its borders today.

Top Foreign Banks in India
A trend you will likely observe here is that many of these banks were established after Dr.Manmohan Singh implemented his LPG policies – no coincidence as there was widespread hostility against any private-owned businesses and foreign businesses alike at that time.

So we employed a particular form of mixed economy where communism held more weight, without regard for order as indicative of ranking.

1. Citi Bank Known for their tagline ‘Citi Never Sleeps’, Citi is not only India’s oldest bank but globally one of the oldest functional banks. Originally established in New York City in 1812, they soon expanded around the globe before arriving in Kolkata as their Indian home base due to British strongholds at that time.

However, they did not restrict themselves to serving only one clientele and now boast over 40 branches spread out among various cities as well as 700 ATMs.

Standard Chartered Bank is a British multinational financial services corporation which currently is the world’s largest international bank by volume of branches and ATMs. As of 2016, they boast more than 100 branches spread out across 40+ cities with 87000+ employees working there; their presence first started to show in India back in 1969.

The bank’s headquarters are in London and offer a comprehensive set of services, as well as providing CASA essentials.

3. HSBC Bank
It would be wrong not to mention HSBC, another British bank established in Great Britain in 1865. Their global headquarters can be found in London while in India the bank operates 50 branches serving over 1 lakh customers with services including retail as well as commercial banking. Their Indian headquarters can be found in Mumbai Maharashtra with retail as well as commercial banking options available here.

HSBC was also the pioneer bank to introduce ATMs in India back in 1987.

4. Deustche Bank
Deustche Bank was established in 1980 in Germany. Although its name may seem unfamiliar, Deustche is actually relatively smaller with 18 branches compared to some banks that operate globally.

Though operating from 18 branches, over 100,000 individuals provide services to over half a million customers.

Top foreign banks operating in India. Best foreign banks.
5. Royal Bank of Scotland Royal Bank of Scotland may originate in Scotland; however, it has long been renowned in Indian financial circles since first opening a branch here in 1921.

At present, this bank boasts more than 10 branches offering services like foreign exchange, corporate banking and insurance. As one of the world’s most-trusted financial institutions, its estimated 700 branches indicate their trustworthiness.

Development Bank of Singapore Ltd, commonly referred to as DBS Bank, is a Singaporean multinational entity serving millions of customers around the globe. DBS entered Indian markets more for political than financial reasons but has nonetheless proven one of India’s dependable banks.

Indian operations of Bank of Maharashtra consist of 12 branches across India offering services like loans, credit cards and NRI services.

Barclay’s Bank
Another of Britain’s leading financial institutions, Barclays is one of the world’s biggest. Serving more than 5 million customers around the globe with 7 branches located within India itself. Barclays is also well known as one of the premier NRI services providers.

Established in England in 1690, Barclays Bank is both one of the oldest and most well-established banks worldwide.

Be sure not to miss our comprehensive List of Indian Banks in Canada and USA.

8. Bank of America
Established in America and with headquarters in Charlotte, North Carolina in the United States of America, Bank of America is known for being a political strategy bank that was widely expanded in India to foster friendly international relations between America and India.

Established in 1964, this bank only has five branches in India but is one of the world’s leading financial institutions, serving 4.9 million customers globally.

Bank of Bahrain and Kuwait Established in 1971 in Bahrain and Kuwait (it’s not that complicated!), its shareholders include individuals as well as the government of Bahrain. With 16 branches located throughout Bahrain and 3-4 located within India, this bank doesn’t really boast large volumes.

However, many believe that what this bank lacks in volume it makes up for in quality of service – offering credit cards, loans and fixed deposits among many others.

Doha Bank, established only six years ago, has quickly made its presence felt in Indian financial markets since entering. Boasting three branches – Mumbai, Chennai and Kochi – at present with plans for further growth within this decade, Doha Bank is already considered a major force within Indian finance markets.

Internationally, this bank operates in many Asian and European nations.

You might also be interested in: Foreign Stock Brokers in India

Foreign Banks in India Here is our list of leading foreign banks thriving within India’s banking industry. Do you know any others we should add here? Feel free to share in the comments.

With so much talk of international investment in India, it is vitally important that one is familiar with the financial entities supporting them.