Foreign Banks In India: India is one of the fastest growing economies in the world. As of now, there are a total of 46 foreign banks in India. The list includes Citibank, Bank of America, Barclays Bank, DBS Bank, Standard Chartered Bank, Deutsche Bank and others. There are a total of 46 international banks in India with around 300 branches located mostly in major cities of Indian states. In this article, we are going to discuss the Top Foreign Banks in India and other important details related to foreign banks.
What is Foreign Bank?
A foreign bank is a financial institution that provides financial services to international consumers from outside its country of origin. Foreign bank branch is a type of international bank that must comply with the laws of both its home country and the host country. According to the Reserve Bank of India (RBI), there are now 46 foreign banks in India by 2024.
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Foreign Banks And Their Headquarters
| Foreign Banks and Their Headquarters | |
| Name of the Bank | Headquarter |
| AB Bank Ltd. | Dhaka, Bangladesh |
| Abu Dhabi Commercial Bank Ltd | Abu Dhabi, United Arab Emirates |
| American Express Banking Corporation | New York, United States |
| Australia and New Zealand Banking Group Ltd. | Melbourne, Australia |
| Barclays Bank Plc | London, United Kingdom |
| Bank of America | Charlotte, North Carolina, United States |
| Bank of Bahrain & Kuwait BSC | Manama, Bahrain |
| Bank of Ceylon | Colombo, Sri Lanka |
| Bank of China | Beijing, China |
| Bank of Nova Scotia | Toronto, Canada |
| BNP Paribas | Paris, France |
| Citibank N.A | New York, United States |
| Rabobank | Utrecht, Netherlands |
| Credit Agricole Corporate & Investment Bank | Paris, France |
| Credit Suisse AG | Zürich, Switzerland |
| CTBC Bank Co. Ltd. | Nangang District, Taipei, Taiwan |
| DBS Bank India Limited | Singapore |
| Deutsche Bank | Frankfurt, Germany |
| Doha Bank | Doha, Qatar |
| Emirates Bank NBD | Dubai, United Arab Emirates |
| First Abu Dhabi Bank | Abu Dhabi, United Arab Emirates |
| FirstRand Bank Ltd | Johannesburg, South Africa |
| HSBC Ltd | London, England, UK |
| Industrial & Commercial Bank of China Ltd. | Xicheng District, Beijing, China |
| Industrial Bank of Korea | Jung-gu, Seoul, South Korea |
| J.P. Morgan Chase Bank N.A. | New York, USA |
| JSC VTB Bank | Moscow, Russia |
| KEB Hana Bank | Seoul, South Korea |
| Kookmin Bank | Seoul, South Korea |
| Krung Thai Bank Public Co. Ltd. | Watthana, Bangkok, Thailand |
| Mashreq Bank PSC | Dubai, United Arab Emirates |
| Mizuho Bank Ltd. | Chiyoda City, Tokyo, Japan |
| MUFG Bank, Ltd. | Chiyoda City, Tokyo, Japan |
| NatWest Markets Plc | London, United Kingdom |
| PT Bank Maybank Indonesia TBK | Senayan, Jakarta, Indonesia |
| Qatar National Bank (Q.P.S.C.) | Doha, Qatar |
| Sberbank | Moscow, Russia |
| SBM Bank (India) Limited | Port Louis, Mauritius |
| Shinhan Bank | Jung-gu, Seoul, South Korea |
| Societe Generale | Paris, France |
| Sonali Bank Ltd. | Dhaka, Bangladesh |
| Standard Chartered Bank | London, England, UK |
| Sumitomo Mitsui Banking Corporation | Chiyoda City, Tokyo, Japan |
| United Overseas Bank Ltd | Singapore |
| Westpac Banking Corporation | Sydney, Australia |
| Woori Bank | Jung-gu, Seoul, South Korea |
Top Foreign Banks in India
Below is the list of top foreign banks in India. These banks are very famous and have a high number of customers. Let’s have a look at them.
1. Standard Chartered Bank:
Standard Chartered Bank is a British multinational banking and financial services firm headquartered in London, England. According to the Reserve Bank of India, Standard Chartered Bank is one of the largest foreign banks based in India.
| Owner | Temasek Holdings |
| CEO | Bill Winters (Since 2015) |
| Founders | Royal Charter, Chartered Bank of India, Australia and China, Standard Bank |
| Founded | 1969, London |
| Headquarters | United Kingdom |
2. Bank of America:
Bank of America is one of the top foreign banks in India, the bank supports international transactions between India and the US. Its headquarters is located in the USA.
| CFO | Alastair Borthwick |
| Founded | 30 September 1998 |
| Headquarters | Charlotte, North Carolina, United States |
| Founders | Amadeo Giannini (Bank of Italy), Hugh McColl (NationsBank) |
3. Citi Bank:
Citibank is a subsidiary of Citigroup, a New York-based international financial services corporation. Citibank is a foreign bank with presence in India that offers a wide range of services. Its Indian headquarters is in Mumbai, Maharashtra.
| Founded | Established in 1902 |
| Location | Calcutta (Kolkata) |
| Chief Executive Officer | Ashu Khullar (Since 2019) |
4. DBS Bank:
The headquarters of DBS Bank is located in Singapore. It is a Singaporean multinational banking and financial services organisation. With its global strength, the bank has managed to secure a position among the 15 safest banks in the world.
| Founded | 16 July 1968 |
| Headquarters | Singapore |
| Key people | Peter Shah |
| CEO | Piyush Gupta |
5. HSBC India:
HSBC, founded in London in 1991 by the Hong Kong and Shanghai Banking Corporation, is the second largest bank in Europe. It has more than 50 branches in India and serves a customer base of more than 1 lakh people. Its Indian headquarters is located in Mumbai.
| CEO | Hitendra Dave (7 Jun 2021–) |
| Parent Organisation | HSBC |
| Subsidiary | HSBC Agency (India) Private Limited |
| Founded | 1853 |
| Headquarters | Mumbai |
6. Deutsche Bank:
Deutsche Bank is a leading German bank with strong European roots and a global network. It is a leading foreign bank, newly formed in the year 2019, focused on investment banking and asset management.
| CFO | James Von Moltke |
| COO | Frank Kuhnke |
| Headquarters | Frankfurt, Germany |
| CEO | Christian Sewing (Since 2018) |
| Founders | Ludwig Bamberger, Adelbert Delbrück |
So this was the list of all the foreign banks that are operating in the nation. We have also mentioned some of the most successful foreign banks that you can see operating in India. Foreign banks play an important role in providing international payment products to both Indians and foreigners.
