Best Banking Stocks in India 2024

The table below shows the best banking stocks in India 2024 based on the highest market capitalization.

Banks in India are poised for growth, given the increasing use of technology and the growing middle class, which is expected to drive demand for banking services. Investing in banking stocks can provide several benefits to you as an investor, including:

• Potential for solid returns: Banking stocks can generate strong returns for investors over the long term, mainly if they invest in well-managed banks with solid fundamentals.

• Diversification: Investing in banking stocks can diversify your portfolio, as banks are a vital part of the economy and have exposure to several sectors.

• Dividend income: Many banks in India pay regular dividends to their shareholders, providing a steady income stream for investors.

Content:

• Best Bank Stocks to Buy – 1 Year Return
• Best Bank Stocks – 1M Month
• Top 10 Bank Stocks In India – Daily Volume
• Best Banking Stocks in India – PE Ratio
• Short Introduction to the Best Banking Stocks in India

Best Bank Stocks to Buy

The list below shows the best bank stocks to buy in India based on the 1 Year return.

Best Bank Stocks

The list below shows the best bank stocks based on the 1 Month Return.

Coming to the next section of the article, you may find one more list of banking stocks to be considered. Please keep reading to know more about it.

These were the best bank stocks based on the High volume stocks over the past year. You may also check out the High Volume stocks in India across all sectors by clicking here.

Looking for the Best Stocks in different sectors? Check out the following articles:

Top 10 Bank Stocks In India

The list below shows the Top 10 Bank Stocks In India based on the highest Daily Volume.

Best Banking Stocks in India

The list below shows the best banking stocks in India based on the PE Ratio.

Introduction to the Best Banking Stocks in India

Best Bank Stocks To Buy – 1 Year Return

Indian Overseas Bank

The Market Cap of Indian Overseas Bank is Rs. 126,835.20 crores. The stock’s monthly return is 8.40%. Its one-year return is 177.96%. The stock is 25.28% away from its 52-week high.

Indian Overseas Bank (the Bank) engages in various banking activities. Its segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. The Bank’s operations cover domestic deposits, domestic advances, foreign exchange operations, investments, and micro, small, and medium enterprises, including the MUDRA Loan Scheme. It also focuses on retail banking with Arogya Mahila Savings Bank Accounts, mid-corporate departments, agricultural credit portfolios, loans to small and marginal farmers, and microfinance. Services include personal banking, merchant banking, and internet and mobile banking. The Bank has overseas branches in Singapore, Colombo, Hong Kong, and Bangkok.

Dhanlaxmi Bank Ltd

The Market Cap of Dhanlaxmi Bank Ltd is Rs. 1,118.31 crores. The stock’s monthly return is -0.79%. Its one-year return is 157.31%. The stock is 34.09% away from its 52-week high.

Dhanlaxmi Bank Limited, an Indian bank, offers a wide range of banking and financial services across segments including treasury operations, corporate/wholesale banking, retail banking, and other banking operations. Services include personal banking, corporate banking, NRI banking, micro and agri-banking, SME banking, and forex/trade finance services, catering to diverse customer needs.

Punjab National Bank

The Market Cap of Punjab National Bank is Rs. 139,179.20 crores. The stock’s monthly return is -3.18%. Its one-year return is 148.96%. The stock is 13.55% away from its 52-week high.

Punjab National Bank (PNB) is an Indian bank operating in segments like Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. PNB offers a wide range of banking services, including personal and corporate banking, international services, and capital services.

Best Bank Stocks – 1 Month Return

Jana Small Finance Bank Ltd

The Market Cap of Jana Small Finance Bank Ltd is Rs. 6,489.83 crores. The stock’s monthly return is 34.95%. Its one-year return is 66.78%. The stock is 13.80% away from its 52-week high.

Jana Small Finance Bank Ltd is an India-based bank that offers a variety of financial services. The bank’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It provides personal banking services such as savings accounts, fixed deposits, and personal loans. The bank also offers business banking solutions including current accounts, business loans, and trade finance services. Jana Small Finance Bank focuses on financial inclusion by offering microfinance and affordable banking services to underserved and unbanked segments of the population. The bank also provides internet and mobile banking services.

Indian Bank

The Market Cap of Indian Bank is Rs. 77,470.63 crores. The stock’s monthly return is 10.93%. Its one-year return is 96.60%. The stock is 2.40% away from its 52-week high.

Indian Bank is engaged in the business of banking and financial services. The Company’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. The Treasury Segment covers the investment portfolio and trading in foreign exchange and derivative contracts. The Corporate/Wholesale Banking segment focuses on loans and services for corporate clients and institutional clients, including stressed asset resolution. The Retail Banking Segment, divided into digital and other retail banking, primarily deals with personal banking and lending activities. This segment also includes agency business and ATM operations.

State Bank of India

The Market Cap of State Bank of India is Rs. 741,322.90 crores. The stock’s monthly return is 9.98%. Its one-year return is 41.86%. The stock is 2.55% away from its 52-week high.

State Bank of India is an India-based banking and financial services provider. The Company offers a wide range of products and services to individuals, commercial enterprises, corporates, public bodies, and institutional customers. Its segments include Treasury, Corporate/Wholesale Banking, Retail Banking, Insurance Business, and Other Banking Business. The Treasury segment handles the investment portfolio and trading in foreign exchange and derivatives. The Corporate/Wholesale Banking segment focuses on loans and services for corporate and institutional clients, including stressed assets resolution. The Retail Banking Segment deals with personal banking and lending activities for corporate customers.

Best Bank Stocks – Highest Volume

Yes Bank Ltd

The Market Cap of Yes Bank Ltd is Rs. 72,841.42 crores. The stock’s monthly return is -3.73%. Its one-year return is 46.65%. The stock is 43.14% away from its 52-week high.

Yes Bank Ltd is a private sector bank that provides a wide array of banking and financial services, including retail banking, corporate banking, and wealth management. The bank aims to be a technology-driven and customer-centric institution, offering innovative financial solutions.

IDFC First Bank Ltd

The Market Cap of IDFC First Bank Ltd is Rs. 54,766.90 crores. The stock’s monthly return is -6.35%. Its one-year return is 16.19%. The stock is 30.52% away from its 52-week high.

IDFC FIRST Bank, an Indian banking firm, operates via segments: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. It manages investments, corporate loans, and offers retail loans to individuals and businesses through branches and ATMs across India.

Canara Bank Ltd

The Market Cap of Canara Bank Ltd is Rs. 105,401.00 crores. The stock’s monthly return is -1.11%. Its one-year return is 92.72%. The stock is 9.12% away from its 52-week high.

Canara Bank Ltd is an India-based financial institution engaged in the provision of banking services. The Company’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. The Treasury Operations segment covers investments, money market operations, and trading in foreign exchange and derivatives. The Corporate/Wholesale Banking segment focuses on loans and financial services for large corporate clients. The Retail Banking segment offers a range of services, including personal loans, savings accounts, and deposit services. Additionally, the Bank provides microfinance, agricultural banking, and small and medium enterprise (SME) banking services.

Best Banking Stocks In India – PE Ratio

Karnataka Bank Ltd

The Market Cap of Karnataka Bank Ltd is Rs. 8,233.42 crores. The stock’s monthly return is -3.88%. Its one-year return is 59.56%. The stock is 30.28% away from its 52-week high.

Karnataka Bank Ltd is a private sector bank in India that offers customers a range of banking and financial services. The bank provides services such as retail banking, corporate banking, and treasury operations, aiming to meet the diverse financial needs of individuals and businesses.

South Indian Bank Ltd

The Market Cap of South Indian Bank Ltd is Rs. 7,390.33 crores. The stock’s monthly return is -0.53%. Its one-year return is 82.63%. The stock is 31.25% away from its 52-week high.

The South Indian Bank Limited offers banking and financial services through segments including Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. Treasury segment manages investments and foreign exchange. Corporate/Wholesale Banking provides loans to corporates, while Retail Banking offers loans to non-corporate customers. Other Banking Operations include para banking activities. The bank operates numerous banking outlets and ATMs in India.

Tamilnad Mercantile Bank Ltd

The Market Cap of Tamilnad Mercantile Bank Ltd is Rs. 7,405.31 crores. The stock’s monthly return is -4.54%. Its one-year return is 13.69%. The stock is 30.39% away from its 52-week high.

Tamilnad Mercantile Bank Limited offers a wide array of banking and financial services, including retail, corporate, and para-banking activities, along with treasury and foreign exchange operations. Its segments encompass Treasury, Corporate and Wholesale Banking, Retail Banking, and Other Banking Operations. The bank provides diverse banking products and services to retail, MSME, agricultural, and corporate clients.

Best Banking Stocks in India 2024 – Based on Market Capitalization

HDFC Bank Ltd

The Market Cap of HDFC Bank Ltd is Rs. 1,153,546.00 crores. The stock’s monthly return is -0.11%. Its one-year return is -4.54%. The stock is 11.79% away from its 52-week high.

HDFC Bank Limited (the Bank) is a financial services conglomerate that offers a full suite of financial services, including banking, insurance, and mutual funds through its subsidiaries. The Bank provides a range of services covering commercial, investment, and transactional/branch banking. Its Treasury segment includes net interest earnings from its investment portfolio, money market borrowing and lending, gains or losses on investment operations, and trading in foreign exchange and derivative contracts. The Retail Banking segment includes Digital Banking and other retail services. The Wholesale Banking segment offers loans, non-fund facilities, and transaction services to large corporates, public sector units, government bodies, financial institutions, and medium-scale enterprises. Its subsidiaries include HDFC Securities Ltd., HDB Financial Services Ltd., HDFC Asset Management Co. Ltd., and HDFC ERGO General Insurance Co. Ltd.

ICICI Bank Ltd

The Market Cap of ICICI Bank Ltd is Rs. 795,799.90 crores. The stock’s monthly return is -2.46%. Its one-year return is 18.41%. The stock is 1.12% away from its 52-week high.

ICICI Bank Limited (the Bank) is an India-based banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking and treasury operations. The Bank has six segments. Retail banking segment includes income from credit cards, debit cards, third party product distribution and the associated costs. Wholesale banking segment includes all advances to trusts, partnership firms, companies and statutory bodies. Treasury segment primarily includes the entire investment and derivative portfolio of the Bank. Other banking segment includes leasing operations and other items and the Bank’s banking subsidiaries, ICICI Bank UK PLC and ICICI Bank Canada. Life insurance segment represents the results of ICICI Prudential Life Insurance Company Limited. Others segment includes ICICI Home Finance Company Limited, ICICI Venture Funds Management Company Limited and others. The Bank’s geographical segments: Domestic operations, and Foreign operations. 

State Bank of India

The Market Cap of State Bank of India is Rs. 739,493.30 crores. The stock’s monthly return is -0.40%. Its one-year return is 41.41%. The stock is 0.70% away from its 52-week high.

State Bank of India is an India-based banking and financial services provider. The Company offers a wide range of products and services to individuals, commercial enterprises, corporates, public bodies, and institutional customers. Its segments include Treasury, Corporate/Wholesale Banking, Retail Banking, Insurance Business, and Other Banking Business. The Treasury segment handles the investment portfolio and trading in foreign exchange and derivatives. The Corporate/Wholesale Banking segment focuses on loans and services for corporate and institutional clients, including stressed assets resolution. The Retail Banking Segment deals with personal banking and lending activities for corporate customers.

Best Bank Stocks To Buy – 1 Year Return

Indian Overseas Bank

The Market Cap of Indian Overseas Bank is Rs. 127,024.20 crores. The stock’s monthly return is 2.38%. Its one-year return is 175.05%. The stock is 14.41% away from its 52-week high.

Indian Overseas Bank (the Bank) engages in various banking activities. Its segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. The Bank’s operations cover domestic deposits, domestic advances, foreign exchange operations, investments, and micro, small, and medium enterprises, including the MUDRA Loan Scheme. It also focuses on retail banking with Arogya Mahila Savings Bank Accounts, mid-corporate departments, agricultural credit portfolios, loans to small and marginal farmers, and microfinance. Services include personal banking, merchant banking, and internet and mobile banking. The Bank has overseas branches in Singapore, Colombo, Hong Kong, and Bangkok.

Punjab National Bank

The Market Cap of Punjab National Bank is Rs. 139,234.30 crores. The stock’s monthly return is -6.97%. Its one-year return is 148.23%. The stock is 4.31% away from its 52-week high.

Punjab National Bank (PNB) is an Indian bank operating in segments like Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. PNB offers a wide range of banking services, including personal and corporate banking, international services, and capital services.

Dhanlaxmi Bank Ltd

The Market Cap of Dhanlaxmi Bank Ltd is Rs. 1,081.63 crores. The stock’s monthly return is -6.74%. Its one-year return is 141.98%. The stock is 41.66% away from its 52-week high.

Dhanlaxmi Bank Limited, an Indian bank, offers a wide range of banking and financial services across segments including treasury operations, corporate/wholesale banking, retail banking, and other banking operations. Services include personal banking, corporate banking, NRI banking, micro and agri-banking, SME banking, and forex/trade finance services, catering to diverse customer needs.

Best Bank Stocks – 1 Month Return

Kotak Mahindra Bank Ltd

The Market Cap of Kotak Mahindra Bank Ltd is Rs. 338,634.10 crores. The stock’s monthly return is 6.08%. Its one-year return is -12.70%. The stock is 15.70% away from its 52-week high.

Kotak Mahindra Bank Limited (the Bank) is a Non-Banking Financial company primarily engaged in financing passenger cars and multi-utility vehicles for retail customers and providing inventory and term funding to car dealers. The Bank operates through three segments: Vehicle Financing, Other Lending Activities, and Treasury and Investment Activities. The Vehicle Financing segment handles retail vehicle finance, wholesale dealer finance, and consumer durable finance. The Other Lending Activities segment covers financing against securities, securitization, debenture investment, commercial real estate lending, and other fee-based services. The Treasury and Investment Activities segment involves proprietary trading in shares and strategic investments. The Bank’s products include Home Loans, Personal Loans, Savings Accounts, the National Pension Scheme (NPS), Business Loans, Life Insurance, Fixed Deposits, Recurring Deposits, and Loans Against Property.

Union Bank of India Ltd

The Market Cap of Union Bank of India Ltd is Rs. 119,465.90 crores. The stock’s monthly return is 2.99%. Its one-year return is 120.59%. The stock is 1.90% away from its 52-week high.

Union Bank of India Ltd. is an India-based banking company operating in four segments: Treasury Operations, Corporate and Wholesale Banking, Retail Banking Operations, and Other Banking Operations. The Treasury Operations segment includes savings and current accounts, term and recurring deposits, and demat and online trading accounts. The Corporate and Wholesale Banking segment offers services like trade finance, working capital, lines of credit, project financing, debt structuring, loan syndication, structured finance, M&A advisory, and private equity services. The Retail Banking Operations segment provides mutual funds and insurance products, including life, non-life, health, and general insurance. The Other Banking Operations segment offers comprehensive NRI banking services and a range of treasury and remittance services.

Indian Bank

The Market Cap of Indian Bank is Rs. 76,992.46 crores. The stock’s monthly return is 2.57%. Its one-year return is 103.48%. The stock is 4.35% away from its 52-week high.

Indian Bank is engaged in the business of banking and financial services. The Company’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. The Treasury Segment covers the investment portfolio and trading in foreign exchange and derivative contracts. The Corporate/Wholesale Banking segment focuses on loans and services for corporate clients and institutional clients, including stressed asset resolution. The Retail Banking Segment, divided into digital and other retail banking, primarily deals with personal banking and lending activities. This segment also includes agency business and ATM operations.

Best Bank Stocks – Highest Volume

Yes Bank Ltd

The Market Cap of Yes Bank Ltd is Rs. 72,058.18 crores. The stock’s monthly return is -8.73%. Its one-year return is 42.41%. The stock is 42.83% away from its 52-week high.

Yes Bank Ltd is a private sector bank that provides a wide array of banking and financial services, including retail banking, corporate banking, and wealth management. The bank aims to be a technology-driven and customer-centric institution, offering innovative financial solutions.

Central Bank of India Ltd

The Market Cap of Central Bank of India Ltd is Rs. 57,120.58 crores. The stock’s monthly return is -2.93%. Its one-year return is 134.66%. The stock is 6.36% away from its 52-week high.

Central Bank of India Limited is an India-based commercial bank offering a range of banking services. These include digital banking, deposits, retail loans, agriculture services, corporate loans, services for micro, small and medium enterprises, and services for non-resident Indians and pensioners. Its digital banking services encompass Internet banking, mobile banking, Cent M-Passbook, debit and credit cards, missed call facility, railway ticket booking, ATMs, and point of sale machines. Deposit services include savings and current accounts, time deposits, recurring deposit schemes, and small saving schemes. Retail Banking services feature housing loans, vehicle loans, education loans, personal/gold loans, loans for senior citizens, and loans against property. Agriculture services include the Central Kisan Credit Card, Cent Agri Gold Loan Scheme, Cent SHG Bank Linkage Scheme, and Cent Agri Infra Scheme.

Punjab National Bank

The Market Cap of Punjab National Bank is Rs. 139,234.30 crores. The stock’s monthly return is -6.97%. Its one-year return is 148.23%. The stock is 4.31% away from its 52-week high.

Punjab National Bank (PNB) is an Indian bank operating in segments like Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. PNB offers a wide range of banking services, including personal and corporate banking, international services, and capital services.

Best Banking Stocks In India – PE Ratio

Karnataka Bank Ltd

The Market Cap of Karnataka Bank Ltd is Rs. 8,350.39 crores. The stock’s monthly return is -8.32%. Its one-year return is 40.99%. The stock is 32.20% away from its 52-week high.

Karnataka Bank Ltd is a private sector bank in India that offers customers a range of banking and financial services. The bank provides services such as retail banking, corporate banking, and treasury operations, aiming to meet the diverse financial needs of individuals and businesses.

South Indian Bank Ltd

The Market Cap of South Indian Bank Ltd is Rs. 7,233.37 crores. The stock’s monthly return is -7.71%. Its one-year return is 56.05%. The stock is 32.91% away from its 52-week high.

The South Indian Bank Limited offers banking and financial services through segments including Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. Treasury segment manages investments and foreign exchange. Corporate/Wholesale Banking provides loans to corporates, while Retail Banking offers loans to non-corporate customers. Other Banking Operations include para banking activities. The bank operates numerous banking outlets and ATMs in India.

Canara Bank Ltd

The Market Cap of Canara Bank Ltd is Rs. 106,308.00 crores. The stock’s monthly return is -6.65%. Its one-year return is 89.10%. The stock is 0.51% away from its 52-week high.

Canara Bank Ltd is an India-based financial institution engaged in the provision of banking services. The Company’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. The Treasury Operations segment covers investments, money market operations, and trading in foreign exchange and derivatives. The Corporate/Wholesale Banking segment focuses on loans and financial services for large corporate clients. The Retail Banking segment offers a range of services, including personal loans, savings accounts, and deposit services. Additionally, the Bank provides microfinance, agricultural banking, and small and medium enterprise (SME) banking services.

Here are some of the Best Stock Research Articles listed based on Top Sectors (Industries), Market Cap, and Fundamental Analysis Factors:

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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