Leading public sector banks in India 2023, by market cap

State Bank of India was the leading Indian public sector bank based on market capitalization with over 5.4 trillion Indian rupees as of December 2023. Bank of Baroda followed, with PNB ranking third that year.

State Bank of India

The Reserve Bank of India acquired the majority of shares from the Imperial Bank of India in 1955 which led to the formation of State Bank of India. Currently, the Indian multinational public sector bank is one of the most valuable brands in the country. However, despite its large customer base, higher deposits, and net profit, the market capitalization of the SBI was much lower than of the leading private sector banks that year. This could be because of a reduced consistency and predictability in the performance of the bank from an investor point of view.

SBI’s green finance initiative

State Bank of India seemed to have taken various initiatives in an effort to reduce its environmental impact on the planet. The bank supports the Indian government in recent years to provide funds to viable renewable energy projects. Through the introduction of the digital banking application, YONO, and digitization of registers, the use of paper was reduced by a large fraction. The bank’s decreased interest rate and a longer-term for Green Car loans give a boost to the clean mobility movement.