An international bank is considered to be a financial institution that supervises outside its home nation and provides monetary services to international clients. A foreign bank branch Is required to obey and follow the host country’s as well as its own country’s legislation.
These banks can provide a greater amount of loans than the subsidiary ones as their loan constraints are dependent on the total bank capital.
International Day of Banks is celebrated on the 4th of December to acknowledge the importance of multilateral and international banks in financing sustainable development. India is now one of the fastest-growing economies in the world. There are around 46 foreign banks that are operating in India in 2021.
List of Top 10 Foreign Banks in India:
The following is the list of the Top 10 foreign banks in India:-
- Citi Bank.
- Doha Bank.
- Bank of America.
- Barclays Bank.
- HSBC Bank.
- Deutsche Bank.
- Standard Chartered Bank.
- Royal Bank of Scotland.
- DBS Bank.
- Bank of Bahrain and Kuwait.
1. Citi Bank:-
City Bank India is a full assistance onshore foreign bank that has a presence in India. Is part of Citigroup, a multinational financial services business based in New York City. The City Bank announced that it will depart consumer banking in 13 provinces including India, as an ingredient of a reorganization. It is headquartered in Mumbai, Maharashtra. It is one of the leading foreign banks in India.
Establishment – It was founded in 1812.
2. Doha Bank:-
Doha Is originally located in Qatar and is a well-known commercial bank. The bank services include Trade Finance and Remittance related services. It has three branches in India in Mumbai, Chennai, and Kochi. Based on its presence, services, and products it is one of India’s leading international banks in India.
Establishment – It was founded in the year 2014.
3. Bank Of America:-
The bank is originally situated in the US, as the name suggests. It was founded in San Francisco in 1998 as a result of NationsBank’s accession to BankAmerica. It has five branches in India. It is one of the largest banks in India as well as in the world.
Establishment – it began operating in the year 1964.
4. Barclay’s Bank:-
It is a UK-based international bank. The Financial Stability Board considers it a systematically important bank. It is headquartered in London, England. It has two divisions – Barclays UK and Barclays International, with Barclays Execution Services as a service company. The bank provides Commercial Banking, Loans, and Credit Cards among other services. In India, it is headquartered in Mumbai and has 7 branches across the country. It is one of the largest international banks in India.
Establishment- It was founded in India in 1990.
5. HSBC Bank:-
It is the subordinate of the Hong Kong and Shanghai Banking Corporation. The Reserve Bank of India regulates it as a foreign bank under the Banking Regulation Act, of 1949. It is a multinational investment bank and financial services holding corporation which is headquartered in the United Kingdom. It is considered Europe’s second-largest bank. In India, it is headquartered in Mumbai and has over 50 branches. It is one of the major foreign banks in India.
Establishment –It was founded in 1991.
6. Deutsche Bank:-
The bank is originally rooted in Frankfurt, Germany. The bank’s network is stretched along 58 countries. The services of this bank include Institutional equities broking, asset and private wealth management, retail banking, and others. It is situated in Mumbai, Maharashtra. It is one of the largest international banks in India.
Establishment – It was established in 1980 in India.
7. Standard Chartered Bank:-
The bank is headquartered in London, England. The bank first established its Branches in Mumbai, Kolkata, and Shanghai in 1858 with Hong Kong and Singapore following in 1859. The bank provides private banking, wealth management services, and credit cards among other services. It is one of the major foreign banks in India.
Establishment – It was founded in India in 1858.
8. Royal Bank of Scotland:-
It is known as one of the world’s most reputable banks. The Royal Bank of Scotland was founded in 1921. Its services include foreign exchange, corporate banking, and insurance. In India, it was established in 2003 and has over 10 branches in the nation. It is one of the largest international banks in India.
Establishment –It was founded in 1921.
9. DBS Bank:-
It is located in Mariana Bay, Singapore. It is a Singaporean financial services organization and multinational banking. DBS Bank is Asia’s Safest Bank and its global resilience has earned it a top score among commercial banks. Bank provides credit cards, a plethora of NRI services, and loans among others. It is one of the largest international banks in India.
Establishment- It was founded in 2003.
10. Bank Of Bahrain and Kuwait:-
The bank was founded by both Kingdom of Bahrain and the state of Kuwait. BBK provides a Large variety of products and services through Bahrain, Kuwait, and India as well as offices in Dubai, UAE. India, BBK is situated at four locations: Mumbai, New Delhi, Hyderabad, and Aluva. It is one of the leading foreign banks in India.
Establishment – It was founded in the year 1971.
Which is the best foreign bank in India?
City Bank is one of the oldest and best foreign banks in India.
Which is one of the foreign banks in India?
CitiBank is one of the foreign banks in India.
Which is the largest foreign bank in India?
Standard Chartered is the largest foreign bank in India. It has over 100 branches in India at present.
Which Indian bank has branches in foreign countries?
SBI, the State Bank of India has the most number of branches overseas followed by Bank of Baroda and Bank of India.
How many foreign banks are there in India?
There are over 46 foreign banks currently operating in India.