The biggest bank in India by market capitalisation on 23 October 2026 is HDFC Bank, at about ₹10.68 lakh crore, followed by ICICI Bank (₹10.01 lakh crore) and State Bank of India (₹8.85 lakh crore). Market capitalisation, or “market cap”, is the total value of a company’s shares on the stock exchange. This page lists the top 10 listed banks in India using figures from the National Stock Exchange (NSE).
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Top 10 Banks in India by Market Cap (23 October 2026)
| Rank | Bank | Type | Market cap (₹ crore) | In ₹ lakh crore |
|---|---|---|---|---|
| 1 | HDFC Bank | Private | 10,68,200 | 10.68 |
| 2 | ICICI Bank | Private | 10,01,021 | 10.01 |
| 3 | State Bank of India | Public | 8,84,861 | 8.85 |
| 4 | Kotak Mahindra Bank | Private | 4,28,256 | 4.28 |
| 5 | Axis Bank | Private | 3,79,113 | 3.79 |
| 6 | Punjab National Bank | Public | 1,38,341 | 1.38 |
| 7 | Union Bank of India | Public | 1,36,565 | 1.37 |
| 8 | Bank of Baroda | Public | 1,19,407 | 1.19 |
| 9 | Indian Bank | Public | 1,12,761 | 1.13 |
| 10 | Canara Bank | Public | 1,05,365 | 1.05 |
Source: NSE India equity quote pages, “Total Market Cap”, end of day on 23 October 2026 (nseindia.com). We compared 26 listed banks. Bank type follows NSE’s industry classification. Market caps change every trading day.
How to Read This List
- Four private banks and six public banks. HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank are private-sector banks. State Bank of India, Punjab National Bank, Union Bank of India, Bank of Baroda, Indian Bank and Canara Bank are public-sector banks.
- There is a big gap after the top five. Axis Bank at ₹3.79 lakh crore is the fifth-largest. The sixth, Punjab National Bank, is at ₹1.38 lakh crore.
- Ranks 6 to 10 are close. They are within about ₹33,000 crore of each other, so they can swap places from one day to the next.
- Market cap is not the same as size of business or safety. It is the share price multiplied by the number of shares, so it moves with the stock market. A bank with a lower market cap is not necessarily weaker, and a higher one is not a guarantee of anything.
Banks Just Outside the Top 10
The next five by market cap on the same day were Federal Bank (₹84,334 crore), AU Small Finance Bank (₹70,133 crore), IndusInd Bank (₹65,059 crore), IDFC First Bank (₹62,347 crore) and Bank of India (₹59,640 crore). Bank of Maharashtra, Indian Overseas Bank, RBL Bank, Yes Bank and others were below that.
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Disclaimer: This page is for general information only. It is not a recommendation to buy or sell any share. Share prices and market caps change daily.
