As the world forges ahead, India is also become one of the fastest global economy, which is drawing many foreign countries to invest in our country. Any growing country needs fast financial transactions for which banks have the best expertise. India has a large number of nationalised banks but having some international banks is also considered equally important.
Foreign Banks provides both the benefits of national & international transactions, for which Govt. of India had to allow the entry & operation of Banks having their Headquarters outside India. Any growing economy must have foreign banks that provide banking products and services for global transactions such as credit cards, loans, & other industrial loans, enhancing business owners. Following are the Top 10 foreign Banks in Operation in India.
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Checkout the list of Top 10 Best Foreign Banks in India in 2018
10. Doha Bank
One of the largest commercial bank in Qatar started its services in India in the year 2014. It offers services like corporate banking, personal banking, NRI services, trade services, etc. The first branch was opened at Mumbai. Doha Bank has spread its operations spread out in Dubai (UAE), Kuwait, Abu Dhabi (UAE), and Kochi (India) other than having representative offices in China, Japan, Singapore, South Korea, Hong Kong, South Africa, Australia, Turkey, UK, Canada, Bangladesh Germany, & Sharjah (UAE).
9. Bank of Bahrain & Kuwait
Bank of Bahrain and Kuwait (BBK), which was established in 1971 simultaneously in the Kingdom of Bahrain and Kuwait, has around four branches all over India. It offers all corporate banking facilities like deposits & transactions, loans and credit cards. Its headquarters located in Manama, Bahrain. Majority of its shareholders are the government and the general populace of Bahrain.
8. Bank of America
Started its operation in India in the year 1964, and is serving more than 50 million customers across India ever since. It operates with about 20,000 ATMs and 6,000 retail banking branches. It started its operation in India at a prime time of increasing ties with America. Its branches are strategically located in all the four metros of India. Services offered are IRAs, Mortgage, Loans, Insurance, Credit Cards, Equity, Investment, Services, Online Investment, and Banking. Global Corporate office is situated in New York, with European headquarters in London, and the Asian headquarters is in Hong Kong.
7. Barclays Bank
The oldest British banking organization, has 4.8 Crores customers & 120,000 employees & all over the world. Its Indian headquarters is situated in the Economic Capital of India better known as Mumbai. It operates through seven branches across the country. Commercial banking, Retail banking, Investment & Wealth Management are the main services offered by this bank. Barclays bank is accredited with the launch of first ATM machine in the world, in the year 1967.
6. Development Bank of Singapore
DBS Bank is a banking services providing organisation with 12 branches across India. Government of Singapore founded it in the year 1968 with headquarters located at the trading capital of India, Mumbai. Commercial banking, Retail banking, Investment & Wealth Management credit cards, are some of the services provided by DBS Bank. DBS is located in all major developed countries apart from United Kingdom and United States.
5. Royal Bank of Scotland
It is one of the best international banks in terms of trust, which was found in 1921. Headquarters are located in Edinburgh, Scotland. It operates with 10 branches across India and functions through 700 branches worldwide. The primary products are Consumer Banking, Finance, and insurance along with Corporate Banking. This bank focuses on foreign exchange, financial advisory, debt capital markets, etc.
4. Deutsche Bank
One of the world’s largest banks, Deutsche Bank is a German global banking and financial services company was initiated in the year 1980. Headquarters is located in Maharashtra. It provides services like consumer banking, finance and insurance, investment banking, corporate banking, private banking, mortgage loans, private equity, , Securities, asset management, savings, wealth management and Credit cards. It has more than 100,000 employees in over 70 countries and it operates 18 branches in the country and offer services to more than five Lakh customers.
3. HSBC India
HSBC India is the oldest foreign operated bank with 32,000 employees across India. It is a British multinational bank formed in the year 1836 and there are more than 50 branches across the nation. Operational head office is located in Mumbai & offers a variety of transactional and banking services to its Indian clients like credit card, foreign exchange, internet banking, debit cards, and loans facility. There are more than 1 Lakh clients available across India as a part of HSBC bank. Globally HSBC operates through six thousand offices.
2. Standard Chartered Bank
SCB is a British operated multinational bank, founded in the year 1969. It was considered to be the most customer friendly bank in the country. SCB has over 1,200 branches in 72 countries and over 87,000 employees across the globe. Headquartered in London, its main services are Consumer banking, Credit cards, corporate banking, Investment banking, Mortgage loans, Wealth management, Private banking, etc.
American based multinational bank, Kolkata attracted Citibank, which was founded in 1902. Now its headquarters are located in Mumbai. Providing Services through fully operated 44 branches across 31 cities in India and over 700 ATMs with 7500 employees. Its focuses on providing products and services like, Debit Cards, Credit Cards, Loans, Private Banking, and Assurance/Insurance along with NRI Banking. The global philanthropic arm of Citigroup is the proud owner of Citibank and is the considered to be the best and largest foreign headquartered banks in India. It is also actively participating in community activities like sponsoring awards, charitable causes, and other arts festivals.
To be precise at the end of this article, India is one of the few countries who are proud to have global transaction starting with more than a century ago. As we, all know that the health of the economy is based on its fund flow statements and not the physical values of any stick. Even after some small hiccups, Indians kept on maintaining its economic ties based on its rich natural resources. Only in the last few decades, India learnt how to convert these resources to finished product and maximised the value.