List of Foreign Banks in India(Top 10 International Banks in India)

Over time, the Indian banking system has also shown to be quite efficient and well-regulated. Several international banks have entered the Indian market. There are 46 active foreign banks in India as of July 22, 2020 (International Banks in India).

Public sector banks currently dominate the Indian banking system. Even if the Indian economy is developing at its fastest rate, more international banks are needed in India to reinforce the country’s backbone.

Recent trends have revealed the government’s opposition to the extension of the field for the establishment of new foreign banks in India. Foreign banks have played a critical role in boosting the Indian market and economy, which the government should not overlook.

According to the RBI data, we have included all international banks, their branches, and representative offices in India.

What is a Foreign Bank in India(International Bank in India)?

A foreign bank is an international bank, as the name implies. A foreign bank is one that establishes a branch in a host country (India) but maintains its headquarters in its home country. Every foreign bank operating in India is required to observe RBI and its parent bank’s laws and regulations.

The oldest international banks in India are HSBC and Citibank. According to the RBI, there are 46 foreign banks and 37 international bank representative offices.

Types of foreign banks in India(International Banks in India)

Foreign banks operate in India in two ways: they have opened branches in the host country or they are establishing representative offices.

A foreign bank’s branch in India can conduct transactions, provide banking services, and other monetary services, whereas a representative office can only sell the brand or contact local markets.

Best foreign banks in India(Top International Banks in India)

1. Standard Chartered Bank 

In India, Standard Chartered Bank has 100 banking branches. It is one of India’s oldest foreign banks. It has its headquarters in London.

In 1969, a British African bank called Standard Bank combined with India’s Charted Bank to become Standard Chartered Bank, which presently operates as a single entity.

Institutional banking, commercial and retail banking, consumer services, corporate services, financing services, and many other services are available. It is India’s largest and most reputable foreign bank.

2. HSBC

In India, the Hong Kong and Shanghai Banking Company is a Chinese international bank. They have 26 banking branches across India. The headquarters of HSBC are in London. It is the world’s sixth largest public bank.

In 1970, HSBC bought the mercantile bank and entered the Indian market. ATMs were first introduced in India by HSBC.

Cash management solutions, trade services, and financing services are among its offerings. They also offer corporate and institutional clients financial products and services.

3. Citi Bank

Citibank is India’s oldest foreign bank. It was formed in West Bengal in 1902. It is a Citigroup subsidiary.

Several financial technology, such as credit cards, telephone customer service, and net banking, were introduced to Indian banking by Citibank.

Customers can choose from a wide range of financial products and services, including corporate and investment banking. With over 4 lakh customers, Citibank is one of the best foreign banks in India.

4. Royal Bank of Scotland (NatWest Market Plc)

In February 2020, the Royal Bank of Scotland was renamed NatWest Market Plc. It is now a NatWest Group subsidiary bank. Their main office is in London.

Customers can get complete wealth management as well as corporate and commercial banking from NatWest.

5. DBS

In India, the Development Bank of Singapore Ltd is a foreign bank. Singapore’s government established DBS in 1968. The international bank now has 33 operating banking branches.

As a foreign bank, DBS opened its first branch in India in 1995. The Development Bank of Singapore Limited provides credit cards, ATMs, loans, commercial and corporate banking, and other services.

6. Deutsche Bank

Deutsche Bank is a multinational financial organization headquartered in Germany. As a foreign bank, the bank launched its first branch in India in 1980. They currently have 16 locations across the country.

The company’s headquarters are in Frankfurt, Germany. They offer services to individuals, businesses, and institutions.

7. Barclays Bank Plc.

Barclays Bank is a significant provider of financial services in India as a foreign bank, with over 9 lakh customers and ten branches. It is a British bank with a London headquarters.

They provide services to NRIs, private individuals, and businesses. Wealth management and loans are two other services available.

8. Credit Agricole Corporate and Investment Bank

It is a multinational French corporate bank with operations in over 32 countries. Their main office is in Paris.

The bank operates five branches in India. CACIB Bank provides Indian businesses, multinational corporations, and financial institutions with a wide range of products and services.

9. Bank of America 

Bank of America, a famous banking institution, has five branches in the country. In terms of capitalism, Bank of America is ranked second.

Capital loans, wealth management, trade banking, corporate finance, and other services are available. In India, Bank of America is one of the best foreign banks.

10. BNP Paribas 

In India, Bank Nationale de Paris is a French foreign bank. It is the BNP Paribas group’s merger body. Their main office is in Paris.

Individual investment services, cash deposits and withdrawals, government transactions, and other services are available through this foreign bank. They have eight locations across the country.

List of foreign banks in India(International Banks in India) – Comparision Table

Sr. No.	Name of Bank	Country of incorporation	No. of banking bran8ches in India	Services offer by the bank
1	AB Bank Ltd.	Bangladesh	1	Correspondent Banking, Export Business, Import Business, Corporate Banking, Retail Banking, SME & MSME Banking, General Banking
2	Abu Dhabi Commercial Bank Ltd.	UAE	1	retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives, Islamic products
3	American Express Banking Corporation	USA	1	Investment Services which include Demat, retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives, Islamic products Health insurance, Life Insurance, insurance on home loans and travel insurance
4	Australia and New Zealand Banking Group Ltd.	Australia	3	globally transaction, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
5	Barclays Bank Plc.	United Kingdom	6	Investment Banking, Corporate Banking, Retail Banking, home loans, business loans, personal loans, Wealth & Investment Management and Equities Sales & Trading
6	Bank of America	USA	4	Checking, Savings, Credit Cards, Home Loans, Auto Loans, Small Business, Investing, Student Banking
7	Bank of Bahrain & Kuwait BSC	Bahrain	4	Retail banking, home loans, business loans, personal loans, Health insurance, Life Insurance, insurance on home loans and travel insurance
8	Bank of Ceylon	Sri Lanka	1	Online Banking, Forex Exchange, Deposit Rate, MCLR
9	Bank of China	China	1	Retail banking, online banking, corporate banking
10	Bank of Nova Scotia	Canada	2	home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
11	BNP Paribas	France	8	Cash Deposits and Withdrawals, Clearing of Cheques, Remittances, Government Transactions
12	Citibank N.A.	USA	35	Credit Cards, Debit Cards, Loans, Investments, Assurance/Insurance, NRI Banking, Private Banking
13	Cooperative Rabobank U.A.	Netherland	1	Corporate BankingMarkets, Corporate Finance Advisory, Project Finance, RaboResearch Food & Agribusiness, Trade Finance, Cash Management, International Desk
14	Credit Agricole Corporate and  Investment Bank	France	5	Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance, Export and Trade Finance, Project Finance and Acquisition Finance
15	Credit Suisse A.G	Switzerland	1	wealth management services, credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance, investment banking and brokerage services
16	CTBC Bank Co., Ltd.	Taiwan	2	Forex and trade finance, corporate banking, and Deposits, wealth management
17	DBS Bank India Limited	Singapore	33	Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
18	Deutsche Bank	Germany	17	Prepaid mobile recharge, Credit cards,home loans, business loans, personal loans, Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
19	Doha Bank Q.P.S.C	Qatar	3	Personal Banking, Current Account, Savings Account, Term Deposits, NRI Deposits, RFC Account, Deposit Interest Rates, Resident Home Loans & LAP, Corporate Banking, Fund Based Facilities, Non-Fund Based Facilities, Trade Services, Advising L/Cs, Local Bill Discounting, Bills under Collection, Export Finance, Import Services, Bank Guarantee, Trade Credit
20	Emirates Bank NBD	UAE	1	NRI banking, Retail Banking, Private banking, Loans which include home loans, business loans, personal loans, Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
21	First Abu Dhabi Bank PJSC	UAE	1	Corporate banking, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, private banking
22	FirstRand Bank Limited	South Africa	1	Corporate banking, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans
23	HSBC Ltd	Hong Kong	26	Internet banking,Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, NRI banking, Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
24	Industrial and Commercial Bank of China Ltd.	China	1	Study loan, Loans which include home loans, business loans, personal loans, ATM services, debit card, Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
25	Industrial Bank Korea	South Korea	1	Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
26	J.P. Morgan Chase Bank N.A	USA	4	corporate banking, including traditional trade products (import trade services, export trade services, guarantees / standby Letters of Credit and trade finance loans)
27	JSC VTB Bank KEB Hana Bank	Russia	1	Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans
28	Kookmin Bank	South Korea	1	Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, Insurance services
29	Krung Thai Bank Public Co. Ltd.	Thailand	1	Deposit, Funds Transfer, Payment & Top Up, Cards, E-Banking, Loan, Investment, Wealth Management, Insurance, Trade Finance Service, Cash Management, FX & Derivatives, Investment Banking
30	Mashreq Bank PSC	UAE	1	Net banking, Working Capital Finance, Short Term Loans, Structured Debt, Trade Finance Solutions, Treasury & Fx Products
31	Mizuho Bank Ltd.	Japan	5	Corporate banking, net banking, Investment Services which include Demat, Mutual Funds, and Deposits, business Loans
32	MUFG Bank, Ltd.	Japan	5	Corporate Banking Loans, Deposit Accounts, Remittances, Trade Finance, Bank Guarantees
33	NatWest Markets Plc	United Kingdom	1	Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
34	PT Bank Maybank Indonesia TBK	Indonesia	1	Corporate banking, trade services, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, deposits, Treasury and wealth management
35	Qatar National Bank (Q.P.S.C.)	Qatar	1	Brokerage services, trade services,  Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,
36	Sber Bank	Russia	1	Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, Credit cards, Debit cum ATM cards,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
37	SBM Bank Limited	Mauritius		Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
38	Shinhan Bank	South Korea	6	Retail Banking, Corporate Banking, Personal Banking, Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
39	Societe Generale	France	2	Cash Management, Trade Finance, Investment Services which include Demat, Mutual Funds, and Deposits, business loans
40	Sonali Bank Limited	Bangladesh	2	Deposit, Private banking, locker services, Investment Services which include Demat, Mutual Funds, and Deposits, Corporate Banking, Project Finance, SME Finance Remittance, Lease Finance Consumer, Credit Trade Finance Loan, Syndication Foreign, Exchange Dealing, International Trade, NGO-Linkage Loan, Consumer Credit Investment, Government, Treasury Function Money, Market Operation Rural and, Micro credit Capital Market
41	Standard Chartered Bank	United Kingdom	100	Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans,Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
42	Sumitomo Mitsui Banking Corporation	Japan	2	Mortgage, Credit cards, Debit cum ATM cards, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans, Insurance services which include Health insurance, Life Insurance, insurance on home loans and travel insurance
43	United Overseas Bank Limited	Singapore	1	Corporate banking, trade services, Investment Services which include Demat, Mutual Funds, and Deposits
44	Westpac Banking Corporation	Australia	1	trade finance, deposits, remittances, payments and receivables, savings and current account, foreign exchange and treasury services
45	Woori Bank	South Korea	3	deposits, securities dealing, underwriting, trust accounts, corporate finance, Investment Services which include Demat, Mutual Funds, and Deposits, Loans which include home loans, business loans, personal loans
46	KEB Hana Bank	South Korea	1	Corporate Banking, Loan & Guarantee, Working Capital Loan, Facility Loan, Overdraft, External Commercial Borrowing, Buyer’s Credit, Packing Credit (INR, Foreign Currency), Bank Guarantee, Foreign Exchange, Trade Finance, Inward & Outward Remittance, Foreign Direct Investment, Deposit, Exchange Earner’s Foreign, Currency Account, Fixed Deposit, Recurring Deposit

List of Foreign(International) Banks’ Representative offices in India

Sr. No.	Name of the representative office	Country of incorporation	Centre
1	Access Bank Banco Bilbao Vizcaya Argentaria	Nigeria	Mumbai
2	Banco BPM S.p. A	Spain	Mumbai
3	Banco de Sabadell SA	Italy	Mumbai
4	Bank for Development and Foreign	Spain	New Delhi
5	Economic Affairs (Vnesheconombank)	Russia	Mumbai
6	Bank of Montreal	Canada	Mumbai
7	Bank of Taiwan	Taiwan	Mumbai
8	Busan Bank	South Korea	Mumbai
9	CaixaBank S.A.	Spain	New Delhi
10	Caixa Geral de Depósitos	Portugal	Mumbai
11	CIMB Bank Berhad	Malaysia	Mumbai
12	Commerz Bank	Germany	Mumbai
13	Credit Industriel et Commercial	France	New Delhi
14	DNB Bank ASA	Norway	Mumbai
15	DZ Bank AG	Germany	Mumbai
16	Everest Bank Ltd.	Nepal	New Delhi
17	Global IME Bank Ltd	Nepal	New Delhi
18	Intesa Sanpaolo S.p. A	Italy	New Delhi
19	K.B.C. Bank N.V.	Belgium	Mumbai
20	KfW IPEX Bank	Germany	Mumbai
21	Landesbank Baden-Wurttemberg	Germany	Mumbai
22	Mega International Commercial Bank	Taiwan	Mumbai
23	Monte Dei Paschi Di Sienna	Italy	Mumbai
24	National Australia Bank	Australia	Mumbai
25	Natixis	France	Mumbai
26	NongHyup Bank	South Korea	Mumbai
27	Raiffeisen Bank International AG	Austria	Gurugram
28	Skandinaviska Enskilda Banken AB	Sweden	Mumbai
29	Svenska Handlesbanken	Sweden	New Delhi
30	The Bank of New York Mellon	USA	Mumbai
31	Toronto Dominion Bank	Canada	Mumbai
32	UBI Banca – Unione di Banche Italiane	Italy	Mumbai
33	Gazprom Bank	Russia	Mumbai
34	UBS AG	Switzerland	Mumbai
35	Uni Credit S.p. A	Italy	Mumbai
36	Wells Fargo Bank N.A.	USA	Mumbai
37	Zurcher Kantonalbank	Switzerland	Mumbai

Also Read: A Complete Guide to Private Banks in India

Role of Foreign(International) Banks in India

Foreign banks have the potential to boost the growth of any developing country. Foreign banks have the potential to boost the Indian economy. Other advantages of international banks in India are listed below.

• By increasing competitiveness, foreign banks in India can improve the efficiency of the local banking system.
• They introduce local markets to new technologies and innovation. HSBC, for example, provided ATMs to the residents.
• Because they have access to their parent companies’ internal capital, foreign banks tend to make more loans at lower costs.
• These foreign banks in India might function as countercyclical during a recession. During downturns or recessions, a countercyclical body has a tendency to behave differently.
• During economic downturns, foreign banks in India might lend money to the country.

Also Read: India’s Top 15 Best Debit Cards

Final Thoughts 

Banks are a critical component of every rising economy. It has been discovered that foreign banks in India have no impact on local bank profitability. Foreign banks account for barely 1% of the banking sector in India, yet they hold more than 8% of the country’s monetary assets.

Indians should cut the marginal tax rate, as well as other taxes and limitations, in order to attract more foreign banks to the country and encourage more international monetary organizations to establish subsidiaries there.

Frequently Asked Questions