10 Foreign Banks with Maximum Branches in India
Bangalore: According to Reserve Bank of India 2012 data number of foreign banks in India sums up at 41 foreign banks, 26 state-run lenders and 20 private-sector banks in the country. Despite many restrictions foreign banks continue to visit the country and open branches almost in each and every state. Kalpana Morparia, India CEO of J.P. Morgan explains the reason behind as, "The Indian banking sector is well regulated and offers considerable access to foreign banks", quoted Business Today.
Here are 10 Major foreign banks listed by Yahoo which constitute the maximum number of branches in India as of April 30, 2012.
1. Standard Chartered Bank
No. of branches in India: 96
Initially commenced in Africa, The Standard Bank merged with Chartered Bank of India in the year 1969. It has approximately 96 branches across the country and is among one of the big foreign bank operators in banking and financial services in India. Presently headquartered in London, United Kingdom, Standard Chartered Bank operates in consumer, corporate and institutional banking, and treasury services.
No. of branches in India: 50
Headquartered in London, United Kingdom HSBC Holdings is the third largest publically owned bank and sixth largest public company. In 1959 HSBC acquired The Mercantile Bank of India which laid the foundation for HSBC to come to India. HSBC is credited with the tag of giving India its first ATM in 1987. It has approximately 50 branches across the country.
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