In India, there are many different types of banks. Banks have had a significant impact on the Indian economy. This fiscal year, India will be one of the world’s fastest-growing developing market economies. India’s economy is predicted to rebound strongly in the fiscal year (2021-22), with 11.5 percent growth, according to the IMF (International Monetary Fund). This article will deal with the information on Foreign Banks in India 2021
Foreign Banks in India 2021
An international bank is a financial institution that provides financial services to international consumers from outside of its native country. There are now 46 foreign banks in India, according to the Reserve Bank of India (As of July 14, 2020). A foreign bank branch is a sort of international bank that must comply with the laws of both its home and host countries.
India has drawn large inflows of foreign direct investment in a variety of industries (FDI). Because their credit limits are based on total bank capital, foreign bank branches can provide larger loans than subsidiary banks. The RBI’s foreign bank policy is based on two essential principles: reciprocity and a single mode of presence. Some of India’s best international banks are listed below.
List of International OR MNC Banks in India
Here is a compilation of a list of Foreign Banks in India 2021 (a list of international banks in India) from various sources. Take a look at the table below for a list of Private Foreign Banks in India (foreign sector banks in India).
|S. No.||Name of the Bank||Branches in India||Headquarter||Country of Incorporation|
|1||AB Bank Ltd.||1||Dhaka, Bangladesh||Bangladesh|
|2||Abu Dhabi Commercial Bank Ltd||1||Abu Dhabi, United Arab Emirates||UAE|
|3||American Express Banking Corporation||1||New York, United States||USA|
|4||Australia and New Zealand Banking Group Ltd.||3||Melbourne, Australia||Australia|
|5||Barclays Bank Plc||6||London, United Kingdom||United Kingdom|
|6||Bank of America||4||Charlotte, North Carolina, United States||USA|
|7||Bank of Bahrain & Kuwait BSC||4||Manama, Bahrain||Bahrain|
|8||Bank of Ceylon||1||Colombo, Sri Lanka||Sri Lanka|
|9||Bank of China||1||Beijing, China||China|
|10||Bank of Nova Scotia||2||Toronto, Canada||Canada|
|11||BNP Paribas||8||Paris, France||France|
|12||Citibank N.A||35||New York, United States||USA|
|14||Credit Agricole Corporate & Investment Bank||5||Paris, France||France|
|15||Credit Suisse A.G||1||Zürich, Switzerland||Switzerland|
|16||CTBC Bank Co. Ltd.||2||Nangang District, Taipei, Taiwan||Taiwan|
|17||DBS Bank India Limited**||Singapore||Singapore|
|18||Deutsche Bank||17||Frankfurt, Germany||Germany|
|19||Doha Bank Q.P.S.C||3||Doha, Qatar||Qatar|
|20||Emirates Bank NBD||1||Dubai, United Arab Emirates||UAE|
|21||First Abu Dhabi Bank PJSC||1||Abu Dhabi, United Arab Emirates||UAE|
|22||FirstRand Bank Ltd||1||Johannesburg, South Africa||South Africa|
|23||HSBC Ltd||26||London, England, UK||Hong Kong|
|24||Industrial & Commercial Bank of China Ltd.||1||Xicheng District, Beijing, China||China|
|25||Industrial Bank of Korea||1||Jung-gu, Seoul, South Korea||South Korea|
|26||J.P. Morgan Chase Bank N.A.||4||New York, USA||USA|
|27||JSCVTB Bank||1||Moscow, Russia||Russia|
|28||KEB Hana Bank||2||Seoul, South Korea||South Korea|
|29||Kookmin Bank||1||Seoul, South Korea||South Korea|
|30||Krung Thai Bank Public Co. Ltd.||1||Watthana, Bangkok, Thailand||Thailand|
|31||Mashreq Bank PSC||1||Dubai, United Arab Emirates||UAE|
|32||Mizuho Bank Ltd.||5||Chiyoda City, Tokyo, Japan||Japan|
|33||MUFG Bank, Ltd.||5||Chiyoda City, Tokyo, Japan||Japan|
|34||NatWest Markets Plc||1||London, United Kingdom||United Kingdom|
|35||PT Bank Maybank Indonesia TBK||1||Senayan, Jakarta, Indonesia||Indonesia|
|36||Qatar National Bank (Q.P.S.C.)||1||Doha, Qatar||Qatar|
|38||SBM Bank (India) Limited**||Port Louis, Mauritius||Mauritius|
|39||Shinhan Bank||6||Jung-gu, Seoul, South Korea||South Korea|
|41||Sonali Bank Ltd.||2||Dhaka, Bangladesh||Bangladesh|
|42||Standard Chartered Bank||100||London, England, UK||United Kingdom|
|43||Sumitomo Mitsui Banking Corporation||2||Chiyoda City, Tokyo, Japan||Japan|
|44||United Overseas Bank Ltd||1||Singapore||Singapore|
|45||Westpac Banking Corporation||1||Sydney, Australia||Australia|
|46||Woori Bank||3||Jung-gu, Seoul, South Korea||South Korea|
Top Foreign Banks in India (Best International Banks in India)
The best international banks in India are listed below. Take a look at the list of India’s top 10 international banks below.
- Citi Bank
- Standard Chartered Bank
- HSBC India
- Deutsche Bank
- NatWest Markets PLC
- DBS Bank
- Barclays Bank
- Bank of America
- Bank of Bahrain and Kuwait
- Doha Bank
Kiplinger’s Personal Finance has awarded Citibank the “Best Bank for High-Net-Worth Families” for the fifth year in a running, putting the Citigold option available to high-net-worth clients at the top of the list. It is a subsidiary of Citigroup, a New York-based international financial services corporation. The majority of the bank’s workers are based in Chennai, Mumbai, and Gurugram, despite the fact that the bank’s headquarters are in Mumbai. Citibank India is an onshore foreign bank with a presence in India that offers a broad range of services. Its Indian headquarters are in the Bandra Kurla Complex in Mumbai, Maharashtra.
Standard Chartered Bank
Chartered opened its first branches in Mumbai (Bombay), Kolkata (Calcutta), and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Standard Chartered plc is a British multinational banking and financial services firm headquartered in London, England. It has about 87,000 employees and over 1,200 branches and outlets in over 70 countries. The London Stock Exchange is Standard Chartered’s major listing, and it is a constituent of the FTSE 100 Index. Secondary listings are available for the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. The Bank of Hong Kong began producing Hong Kong dollar banknotes in 1862. The bank’s credit card, private banking, and wealth management services are all excellent.
HSBC Bank is Europe’s second-largest bank, with total assets of $2.984 trillion (as of December 2020). HSBC was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation to serve as a new group holding company. Its roots can be traced back to anhong in British Hong Kong. It has over 50 branches in India and serves a customer base of over 1 lakh people.HSBC Bank India is a subsidiary of HSBC Holdings plc, and is based in the United Kingdom. It is headquartered in Mumbai. Under the Banking Regulation Act, 1949, the Reserve Bank of India regulates it as a foreign bank (RBI). HSBC Holdings, headquartered in the United Kingdom, is a worldwide investment bank and financial services holding company.
The Frankfurt Stock Exchange and the New York Stock Exchange both list Deutsche Bank AG, a multinational investment bank and financial services corporation based in Frankfurt. The bank’s network spans 58 countries, with 5 lakh employees employed in strongholds in Europe, the Americas, and Asia. With 18 branches, the bank employs up to 11,000 people and offers all basic financial services. Among the financial goods and services it offers:
- On-Shore Investment Banking
- Institutional Equities Broking
- Asset And Private Wealth Management
- Retail Banking And
- Business Process Outsourcing.
ROYAL BANK OF SCOTLAND
The Royal Bank of Scotland was established in India in 1921 with the purpose of providing a full range of banking services. Foreign exchange, corporate banking, and insurance are among the services offered by the bank’s 10 branches. It is reported to have over 700 branches and is one of the world’s most reputed banks. With the establishment of its Microfinance business in September 2003, RBS India started its operations. In underprivileged communities, RBS launched a three-year Microfinance Technical Assistance initiative.
DBS Bank Ltd is a Singaporean company. It is a multinational Banking and Financial Services company and its headquarter is in Marina Bay. The company’s previous name was The Development Bank of Singapore Limited until its new name was adopted on July 21, 2003, to reflect the company’s increasing role as a global bank.DBS is Asia’s safest bank. DBS’s global strength has earned it a top score among commercial banks as well as a spot among the world’s top 15 safest banks. DBS’s trustworthiness to investors, commercial clients, and retail depositors is demonstrated by these findings. This international bank offers a variety of services, including credit cards, loans, and a variety of NRI services.
Barclays plc is a British global universal bank. Its headquarter is in London, England.BARCLAYS bank has seven locations around the country, with its headquarters in Mumbai. The London Stock Exchange is the primary listing for Barclays and is a constituent of the FTSE 100 Index. However, it has a secondary listing on the New York Stock Exchange. Barclays is split into two divisions: Barclays UK and Barclays International, with Barclays Execution Services acting as a service firm in between. Commercial Banking, Loans, Credit Cards, and Treasury Solutions are just some of the bank’s top offerings
Bank OF America
The Bank of America Corporation (abbreviated as BofA or BoA) is a financial services holding firm based in Charlotte, North Carolina. The bank first opened its doors in 1964 and now has only five offices across India. It is still one of the world’s largest banks, with 4.9 million customers.
BANK OF BAHRAIN AND KUWAIT
On March 16, 1971, the Kingdom of Bahrain and the State of Kuwait established the Bank of Bahrain and Kuwait. Its shareholders include Bahraini citizens, the Bahraini government, and Kuwaiti banks and financial organizations.BBK’s Bahrain, Kuwait, and India branches, as well as its representative office in United Arab Emirates, Dubai, offer a wide range of banking services and products. There are four BBK locations in India: Mumbai, New Delhi, Hyderabad and Aluva.
One of Qatar’s most well-known commercial banks is Doha Bank. It began banking services in Doha, Qatar, on March 15, 1979. Doha Bank Q.P.S.C., Qatar opened its first branch in India in Mumbai on June 10, 2014, and now has three locations in the country: SakharBhavan, Nariman Point, Mumbai, Chennai, and Kochi. To provide Trade Finance and Remittance-related services, the bank maintains a vast global correspondent network. The bank offers credit as well as a number of other services.
These are India’s top international banks, as measured by their presence, operational branches or representative offices, clients, and products and services offered.
A foreign bank is an international bank with branches in India but has its headquarter in some other country. Both the home and host countries’ regulations must be followed by a foreign bank. According to the Reserve Bank of India, there are now 46 foreign banks operating in India (As on July 14, 2020).
There are currently 46 foreign banks in India (As of July 14, 2020)-‘Reserve Bank of India’
With 100 branches in 43 locations, Standard Chartered Bank is India’s largest foreign bank.
In Mumbai, there are numerous international banks. Here are a few examples:
DSB Bank Ltd
BNP Paribas Bank
Standard Chartered Bank
Mizuho Bank Ltd
Abu Dhabi Commercial Bank Ltd
Bank of America
AB Bank Ltd.
Bank of Nova Scotia
Bank of Bahrain & Kuwait
In Hyderabad, there are numerous international banks. Examples are given below:
The bank is coming
BNP Paribas Bank
Standard Chartered Bank
Bank of America