India’s banking ecosystem is vast and diverse, comprising 13 public sector banks, 21 private sector banks, 44 foreign banks, and 12 small finance banks. Together, they form the backbone of the country’s financial system.
As of 2024, total assets held by public sector banks stood at Rs. 16,128,080 crore, while private sector banks held assets worth Rs. 1,09,52,458 crore. Public sector banks continued to dominate the landscape, accounting for 59.53 percent of total banking assets—including public, private, and foreign banks.
Public sector banks also led in interest income, earning Rs. 11,09,730 crore in 2024. Private banks followed closely, with interest income reaching Rs. 8,29,049 crore for the same period.
According to the RBI’s Scheduled Banks’ Statement, total deposits across all scheduled banks rose to Rs. 2,28,91,936 crore as on 10th January 2025. Following are the top 5 profitable banks that reported the highest net profit in FY25:
Kotak Mahindra Bank Limited
With a market cap of Rs. 4.25 lakh crores, the stock is currently trading in red at Rs. 2,141.45 on BSE, down by around 0.2 percent on Friday. In Q4 FY25, Kotak Mahindra Bank reported around 5 percent QoQ growth in its net profit to Rs. 4,933 crores from Rs. 4,701 crores in Q3 FY25, but a decline of nearly 7.6 percent YoY from Rs. 5,337 crores in Q4 FY24. Further, the bank reported a net profit of Rs. 22,126 crores, growing at a CAGR of around 22 percent between FY22 and FY25.
Axis Bank Limited
With a market cap of Rs. 3.76 lakh crores, the stock is currently trading in red at Rs. 1,215.1 on BSE, down by around 0.2 percent on Friday. In Q4 FY25, Axis Bank reported around 11 percent QoQ growth in its net profit to Rs. 7,509 crores from Rs. 6,779 crores in Q3 FY25, but a decline of nearly 2 percent YoY from Rs. 7,630 crores in Q4 FY24. Further, the bank reported a net profit of Rs. 28,191 crores, growing at a CAGR of around 26 percent between FY22 and FY25.
ICICI Bank Limited
With a market cap of Rs. 10.09 lakh crores, the stock is currently trading in green at Rs. 1,415.1 on BSE, up by around 0.3 percent on Friday. In Q4 FY25, ICICI Bank reported around 18 percent YoY growth in its net profit to Rs. 14,354 crores from Rs. 12,200 crores in Q4 FY24, as well as a marginal rise of nearly 4 percent YoY from Rs. 13,847 crores in Q4 FY24. Further, the bank reported a net profit of Rs. 54,569 crores, growing at a CAGR of around 27 percent between FY22 and FY25.
HDFC Bank Limited
With a market cap of Rs. 14.95 lakh crores, the stock is currently trading in green at Rs. 1,949.7 on BSE, up by around 1 percent on Friday. In Q4 FY25, HDFC Bank reported around 7 percent YoY growth in its net profit to Rs. 19,285 crores from Rs. 18,013 crores in Q4 FY24, as well as a rise of nearly 5 percent YoY from Rs. 18,340 crores in Q4 FY24. Further, the bank reported a net profit of Rs. 73,440 crores, growing at a CAGR of around 24 percent between FY22 and FY25.
State Bank of India
With a market cap of Rs. 7.03 lakh crores, the stock is currently trading in green at Rs. 788.5 on BSE, up by around 0.5 percent on Friday. In Q4 FY25, State Bank of India reported around 4.6 percent QoQ growth in its net profit to Rs. 20,379 crores from Rs. 19,484 crores in Q3 FY25, but a decline of nearly 8 percent YoY from Rs. 22,203 crores in Q4 FY24. Further, the bank reported a net profit of Rs. 80,523 crores, growing at a CAGR of around 29 percent between FY22 and FY25.
Written by Shivani Singh
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