If you’re paying attention to whatever is going on in the banking sector of India, then you may very well be aware of the fact that there are actually 12 nationalised banks operational in India as of 2025. And yes, most of these banks started out as private banks, but then, in 1969, the government of India nationalised most of them. Why? Well, the reason for this big move in the banking industry was to help out the agricultural scene of the country, as well as help out the small industries in India. This was very much important back then to make sure India continues to grow as a nation, and of course, it was for the economic stability of the country as well. So, let’s say you’re interested in knowing about all of these nationalised banks in India for whatever reason, we’ll advise you to keep on reading because this is the List of Nationalised Banks in India 2025. Here we go then.
1. State Bank of India (SBI)
| Founded | 1806 |
| Nationalised | 1955 |
| Headquarters | Mumbai, Maharashtra |
| No. of Branches | 22,740+ |
| Market Cap (2025) | ₹7,33,695 crore |
| Revenue (2024) | ₹4.39 lakh crore |
Well, first of all, out of all the government banks in India, SBI is the biggest one so far in 2025. And yes, sure enough, it is also the oldest bank of India, too, like, the history of SBI goes back to 1806, actually. Though back in the day, it went by the name Bank of Calcutta. And then, it changed the name in 1921 to Imperial Bank of India. But it wasn’t until 1955 that this bank was nationalised, and we got the bank that we now know as SBI. See, right now, in 2025, if you want to know which is the most trusted bank in the country, well, it surely is this one and no other bank even comes close to how much trust people have in this particular bank.
Though, it is not just about the market cap numbers or all the other financial numbers, you see, the reach of this bank is actually BIG, like, you can find one SBI branch in pretty much every corner of the country. Like, as of 2025, it has 22,740+ branches in the country, which is too big of a number if you really think about it for a sec. Other than that, as per a recent report, SBI has recently crossed the 50 crore customer mark in 2024.
2. Punjab National Bank (PNB)
| Founded | 1894 |
| Nationalised | 1969 |
| Headquarters | New Delhi |
| No. of Branches | 10,168+ |
| Market Cap (2025) | ₹1,19,608 crore |
| Revenue (2024) | ₹1.22 lakh crore |
Well, by market cap data, PNB actually is the 3rd largest bank in India as of 2025, and that’s just purely impressive stuff right there. And sure enough, just like SBI, it is also one of the oldest government banks in India too, like a history that goes back to 1894. Though an interesting thing about this one is that back in the foundation years, it was established back in Lahore, which is now in Pakistan, after the division. It is actually true that from the very start, Punjab National Bank used to be known as “people’s bank” and it still stands true even in 2025.
Back in the initial days as well as in today’s time, PNB is special because it offers services that are much more reliable, accessible and affordable, compared to other banks in the country.
Sure, looking at other banks in the country, market cap-wise, PNB is doing somewhat decently, but still enough to be in the list of the largest banks in the country. It is true that compared to the biggest public sector banks in India, sure, it isn’t as big as SBI in all the metrics, but still, it is one of the most trusted banks in the northern part of the country. And that is precisely the reason why it has more than 180 million customers, 12,248 branches, and 13,000+ ATMs.
3. Bank of Baroda (BOB)
| Founded | 1908 |
| Nationalised | 1969 |
| Headquarters | Vadodara, Gujarat |
| No. of Branches | 8,356+ |
| Market Cap (2025) | ₹1,3,620 crore |
| Revenue (2024) | ₹1.42 lakh crore |
Another big commercial bank that was nationalised back in 1969 is surely the Bank of Baroda, or BOB for short. Though compared to SBI and PNB, the start that BOB had in India was kinda late, like, it started back in 1908 down there in Vadodara, Gujarat. Though the interesting fact that not a lot of people know about this bank is that it was actually started by the Maharaja of Baroda. And look at it now, it is a truly BIG bank that has gone international too. Yes, it is true that Bank of Baroda actually serves in 20 countries around the globe, which you should be proud of as an Indian citizen.
If NRIs have the first choice of bank in India, it certainly is this one most of the time. That’s how famous it is. Another good thing is that, unlike most banks in the country, Bank of Baroda is growing kinda at a good pace, and we know that because just in 2019, we saw the merger of Dena Bank and Vijaya Bank with Bank of Baroda. So yes, Bank of Baroda, one of the biggest public sector banks in India, is even BIGGER now.
4. Canara Bank
| Founded | 1906 |
| Nationalised | 1969 |
| Headquarters | Bengaluru, Karnataka |
| No. of Branches | 9,816+ |
| Market Cap (2025) | ₹91,269 crore |
| Revenue (2024) | ₹139,165 crore |
Alright, here comes the 6th largest public sector, as well as the 10th overall largest bank in India by market cap as of 2025. And yes, we’re talking about Canara Bank, which had a good start in 1906. Not a lot of people know this, but Canara Bank was started in Bengaluru, Karnataka, and the current headquarters are there too.
It surely is one of the top choices when it comes to customers choosing the bank for the basic banking services, because it is among the most trusted government banks in India. Yes, it is more than a century-old bank right now, but even in the 21st century, the people behind this bank are trying to expand it even further, like recently, in 2020, we saw that it actually merged with Syndicate Bank and became even bigger and even stronger. So now, it has a big reach to more customers now, which ultimately is a good thing, not just for this bank, but for India’s banking scene as a whole.
5. Union Bank of India
| Founded | 1919 |
| Nationalised | 1969 |
| Headquarters | Mumbai, Maharashtra |
| No. of Branches | 8,572+ |
| Market Cap (2025) | ₹97,437 crore |
| Revenue (2024) | ₹97,078.50 crore |
If you look at the total number of customers that Union Bank of India is serving as of 2025, well, that’s about 153+ million, which is not very far behind some of the other nationalised banks in India as of 2025. Though sure, it had a late start compared to some banks we already talked about in this list, but still, Union Bank of India managed to become the 4th largest public sector bank as well as the 8th overall largest bank in India by market cap.
Since there were many banks in India that were expanding by taking over or merging with other banks, well, the same thing happened with UBI as well, like it merged with Andhra Bank and Corporation Bank to expand the reach even more, and after 5 year since the merger, we can say that the strategy was kinda impressive because the bank has acquire around 30 to 33 million new customers.
Other than that, this bank is certainly one of the best options for any individual in India, and mostly for small businesses and companies to access banking services and loans. Other than that, UBI is also in support of government schemes like Jan Dhan Yojana and PMAY (housing scheme).
6. Bank of India (BOI)
| Founded | 1906 |
| Nationalised | 1969 |
| Headquarters | Mumbai, Maharashtra |
| No. of Branches | 5,202+ |
| Market Cap (2025) | ₹54,100 crore |
| Revenue (2024) | ₹66,804 crore |
Just like a few other banks in the country, Bank of India also had its start in 1906, but it started in Mumbai back then. After running for a few decades and doing somewhat decently, the big moment came in 1969 when this bank was nationalised by the government, and ever since, it has been a special bank in the country. So much so that now it has gone international too, like it has presence in countries like the UK, Singapore, Japan, and more. Looking at that, it certainly is a proud thing to be proud about as an Indian citizen, no two ways about that.
For now, certainly, Bank of India has a long way to go, especially when it comes to expanding its reach, like it only has about 5,202+ branches, but more is always better.
7. Indian Bank
| Founded | 1907 |
| Nationalised | 1969 |
| Headquarters | Chennai, Tamil Nadu |
| No. of Branches | 5,877+ |
| Market Cap (2025) | ₹78,528 crore |
| Revenue (2024) | ₹63,481 crore |
Next is a bank that started in the southern part of India and now is a big name in the entire nation for the best and reliable banking services. Yes, we’re talking about the Indian Bank that was started in Chennai back in 1907, so it has been more than a century since this bank came into existence.
And compared to the previous bank on this list, sure, Indian Bank seems to be doing good in every other metric, like market cap-wise, total branch numbers, etc. And the credit for that goes to the management of the bank and people who have been working for this bank for a long time now. Remember how we said that in 2019 and 2020, many mergers happened in the banking industry of India? Well, the same case was with the Indian Bank as well, as it merged with Allahabad Bank, making it the seventh-largest nationalised bank in India.
8. Indian Overseas Bank (IOB)
| Founded | 1937 |
| Nationalised | 1969 |
| Headquarters | Chennai, Tamil Nadu |
| No. of Branches | 3,220+ |
| Market Cap (2025) | ₹75,177 crore |
| Revenue (2024) | ₹29,705.99 crore |
If you look at the list of the largest banks in India, somehow, Indian Overseas Bank has made it to the 9th spot or rank on that list, and that’s thanks to its market cap, which has gone down a bit in the last few weeks or so, but it is still high enough. And looking at the fact that it had a late start compared to some of the other nationalised banks in India, that right there is some impressive stuff.
And as you can already tell by the name of this bank, it has gone overseas as well, like right now it has presence in other countries such as Hong Kong, Singapore and Malaysia as well. Right now, it seems like the main goal of this bank is to help out Indian businesses with foreign trade, and that’s ultimately good for the nation.
9. Central Bank of India
| Founded | 1911 |
| Nationalised | 1969 |
| Headquarters | Mumbai, Maharashtra |
| No. of Branches | 4,541+ |
| Market Cap (2025) | ₹34,829 crore |
| Revenue (2024) | ₹25,897.44 crore |
Here comes another bank that had a start in Mumbai, you know, the financial capital of the country. And this time we’re talking about the Central Bank of India, which was started way back in 1911, which makes it another century-old bank on this list. And just like other public sector banks in India or on this list, this one was also nationalised back in 1969.
In the last two years or so, the market cap has gone down a bit, but still, it is among the most reputable banks in the country. The main reason why it exists in the first place is to reach people in the rural parts of the country and help out people with low income, you know, like this bank offers services such as zero-balance accounts, microloans, and support for small-scale farming and businesses.
10. UCO Bank
| Founded | 1943 |
| Nationalised | 1969 |
| Headquarters | Kolkata, West Bengal |
| No. of Branches | 3,263+ |
| Market Cap (2025) | ₹39,474 crore |
| Revenue (2024) | ₹25,119.96 crore |
Many of you may not know this, but back in 1943, when this bank was established in Kolkata, it was called as the United Commercial Bank. And sure enough, the UCO Bank is actually a short form of that long name, which was changed to make it sound more catchy and memorable for people in the country.
And all these decades, this bank has somehow become a very well-known public sector bank, especially for its MSME and startup financing options in the country. Other than that, this bank is also known for making people know about banking and financial things a little more, which we also call financial literacy.
11. Punjab & Sind Bank
| Founded | 1908 |
| Nationalised | 1980 |
| Headquarters | New Delhi |
| No. of Branches | 1,553+ |
| Market Cap (2025) | ₹20,471 crore |
| Revenue (2024) | ₹10,915.45 crore |
Sure, if you have read through the entirety of this post, you must be thinking that this bank is one of the smallest ones on this list, which is true. But it is also true that Punjab & Sind Bank was founded in 1908 in Amritsar, which again makes it another century-old bank in the country and one of the most reliable ones in the northern part of the country, mostly in Punjab, Haryana, and Rajasthan.
It is true that the customer base of this bank is around 13.5 million or so, but that is growing kinda steadily in the last few years or so. Keep in mind, though, this bank is mainly for those who are out there for the basic banking services in the northern part of the country and don’t particularly have higher income. Mostly, they support people who are involved in the agriculture sector of the country and are in need of banking services and most importantly, loans.
12. Bank of Maharashtra
| Founded | 1935 |
| Nationalised | 1969 |
| Headquarters | Pune, Maharashtra |
| No. of Branches | 2,551+ |
| Market Cap (2025) | ₹38,827 crore |
| Revenue (2024) | ₹13,144.67 crore |
Alright, here we are with the last bank on this list, and this one is the Bank of Maharashtra, which was founded back in 1935 in Pune. And looking at the financial numbers of this bank, you may think that there is nothing special about this bank, but the thing is, it actually plays an important role in the banking industry of the country, especially in Maharashtra. It is important for local businesses, farmers, self-employed people, and mostly those who come under the lower-income segment in the country.
So far, it has more than 35 million customers, but that number is only increasing year after year because of how reliable this bank really is.
