17 Indian banks in the global 500 list

Brand Finance PLC, UK based brand valuation company has released the BrandFinance Global Ranking 500. This list gives a comprehensive list of all the banks across the world with the rankings based on their methodology. The methodology is more toward brand related and is not based on market valuations alone.

Only HSBC and American Express received a AAA credit rating. The AAA (triple A) credit rating is the highest rating any bank or a company can receive. It indicates the company’s credit worthiness which is almost synonymous to doing business with that company or predicting the future business. Very few companies achieve that rating. The highest rating an Indian bank got in the list is AA for State Bank of India.

HSBC, Bank of America and Wells Fargo topped the list. The top Indian bank in the list is State Bank of India ranked at 69. Its is ranked at 60 in 2008 because the valuation was done for the group of all the State Banks. Valuation for 2009 is done for SBI alone.

The next bank in the list is ICICI Bank which is the largest private sector lender. ICICI bank has witnessed a steep decline in its rankings. It was ranked 64 in 2008 and now it is ranked 104. HDFC bank is the 3rd Indian bank in the list.

Canara Bank and Oriental bank of Commerce made their first entry into the list indicating the growing presence of Indian banks in the global scenario.

List of 17 Indian banks in the global 500 :

1. State Bank of India
2. ICICI Bank
3. HDFC Bank
4. Punjab National Bank
5. Bank of India
6. Canara Bank
7. Bank of Baroda
8. Axis Bank
9. Kotak Bank
10. Union Bank of India
11. Indian Overseas Bank
12. IDBI Bank Limited
13. State Bank of Patiala
14. Indian Bank
15. Power Finance Corp
16. Oriental Bank of Commerce
17. Syndicate Bank

The list is dominated by the public sector banks punctuated by a few known private sector banks. IT majors and other companies have made it clear that they trust the PSU’s over private banks for their savings. (source)

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