Foreign banks in India are considered important components of the strong financial structure of the economy that help in boosting the economy and modernization. Such international banking institutions add global skills, sophisticated technology, and new financial products that supplement domestic banking finance. Having more than 40 years of liberal banking systems, foreign banks in India have become an appropriate partner of multinational corporations, high net-worth individuals, and companies who need complex financial arrangements. They have promoted fair competition and technological development as well as improvement of service quality within the whole banking sector.
A Statistical Overview: How Many Foreign Banks Are in India?
At the moment, there are about 45 foreign banks with active operations in the country embracing different models such as service branches, representative offices, and so on. The figure represents decades of strategic growth by international banking giants in the quest to tap into the growing Indian economy and also in expanding the Indian middle class.
The Current Number of Foreign Banks (as of 2025)
By 2025, there are 45 active foreign banking firms in existence in India through different structural frameworks, and this places it as one of the most globally intertwined banking markets in Asia.
Understanding the Two Models: Branches vs. Representative Offices
| Aspect | Branch Model | Representative Office Model |
| Business Activities | Full banking operations including deposits, loans, and transactions | Limited to liaison and marketing activities only |
| Customer Base | Can serve retail and corporate clients directly | Cannot serve customers or conduct banking business |
| Capital Requirements | Must maintain substantial capital as per RBI norms | Minimal capital requirements for operational expenses |
| Regulatory Oversight | Subject to complete RBI banking regulations | Limited regulatory requirements and reporting |
| Services Offered | Complete range of banking and financial services | Market research, client relationship building |
Top 10 Foreign Banks in India: An In-Depth Profile
1. Standard Chartered Bank
Standard Chartered Bank has been one of the most entrenched foreign banks in India with more than 160 years of established history in India. The institution has established a reputation as an excellent corporate banker, trade financier, and wealth management.
It has placed itself as the mediator between Indian businesses and international markets through its wide network of 100 branches found in 42 cities. Its wide knowledge on local market forces in connection with global expertise puts the bank as a company of choice to multinational organisations and wealthy individuals.
Key Services:
- The corporate and institutional solutions to banking
- Supply Chain management and trade finance
- Pierre renard Wealth management and private banking
- Banking and credit services to consumers
- Treasury/foreign exchange services
- Capital markets and investment banking
Target Customer: The multinational corporations, high-net-worth individuals, and businesses that need to work with the international banking experience.
USP: It opened up as the first foreign bank to start its operations within the GIFT City financial hub and with comprehensive global connectivity in India.
Presence in India: 100 branches across 42 cities
Official Website: https://www.sc.com/en/
2. Citibank
Citibank has a strong market share of foreign banks in India, and since entering the country in 1902, it became one of the oldest international banks in India. Citibank has a workforce of about 7,500 employees operating a complex network that targets both the individual and corporate clients to offer them with world-class financial services.
The bank has an advantage of being a global bank with access to 160 countries, making it easy to carry out cross border transactions and conduct international business. The technology oriented style of Citibank and the strong balance sheet have brought fame across the whole Indian banking sector.
Key Services:
- Global matching of payments and cash management
- Investment banking and Capital markets
- Consumer credit cards and Banking
- Wealth management and private banking
- Treasury and trade offerings
- Corporate financing and borrowing
Target Customer: Big business, institutional and high-net-worth customers that need international banking services.
USP: High presence across the world that facilitates trillion dollar transactions worldwide in a variety of currencies and asset classes on a daily basis.
Presence in India: Major metropolitan cities
Official Website: https://www.citigroup.com/global
3. HSBC Bank
The phenomenal presence of HSBC as an international bank within India commenced in 1853 when the Mercantile Bank of India was formed in Mumbai, omitting just about a century and a half of consistent provision of services to the Indian market. The bank carries the historic record of providing the first ATM in India by installing the same in 1987, which proves its endeavor towards technological advancement and the ease of convenience to its customers.
The purchase of Mercantile Bank by HSBC in 1959 enhanced the bank as one of the top international banking firms in the nation. Since switching its head office base on Flora Mountain in the city of Mumbai in 1950, HSBC has always been at the forefront of influencing development of the Indian banking sector.
Key Services:
- Cross border trade and supply chain finance
- Banking-Corporate and commercial banking
- Money and individual banking services
- Securities and investment banking
- Treasury services, foreign exchange
- Mobile and digital banking
Target Customer: Businesses that operate internationally, exporters and importers and those customers who need international banking connectivity.
USP: Being first time historic pioneer with installation of first ATM in India and close to 170 years of banking in continuous operation.
Presence in India: 26 branches across 14 cities
Official Website: https://www.hsbc.co.in/
4. Deutsche Bank
Among the foreign banks operating in India, Deutsche Bank is a full-service financial institution that provides a wide array of solutions to corporate and individual customers all over the state. The institution is well established with more than 90,000 employees spread across 57 countries of the world and can only offer international expertise with no rivals in the Indian market.
The bank has significant presence in Germany and Europe as well as expanding in Asian and North America markets, which makes it strategically placed to influence the clients who have cross-border business needs. They have business process outsourcing, retail banking, wealth management, equities brokerage, and investment banking services offered by Deutsche Bank.
Key Services:
- Capital markets and investment banking
- Financing/corporate banking services
- Wealth management, personal banking
- Brokerage and trading of equities services
- Outsourcing of business solutions
- Treasury and risk services
Target Customer: Big companies, institutional investors and wealthy individuals with high net-worth in need of an all-encompassing financial offering.
USP: Single source of financial solution providers, European based with high connectivity as well as good service offering.
Presence in India: 17 Branches in 16 cities
Official Website: https://www.db.com/
5. DBS Bank
DBS Bank has positioned itself as a technology-focused bank among the foreign banks in India, the headquarters being in Singapore and the operations of some of the major cities in India such as Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Pune, and Nashik. The reputation of the bank as a leader of progressive digital banking services causes it to be especially appealing to tech-savvy clients who want to experience a more contemporary degree of banking.
DBS has an entire service package that comprises institutional banking, wealth, and consumer banking, which makes it one of the finest financial institutions in the competitive Indian banking industry.
Key Services:
- Technological banking and mobile tools
- Corporate and institutional banking
- Wealth management and Investment advisory
- Consumer banking and personal loans
- Trade finance and treasury services
- Banking products for small businesses
Target Customer: People with Technology orientation, small-medium companies, and businesses interested in digital-based banking experiences.
USP: Innovative new age digital banking technology and a full ETB and mobile bank suite.
Presence in India: 7 major cities
Official Website: https://www.dbs.com/in/index/default.page
6. BNP Paribas
BNP Paribas has the record of being the first foreign bank in India with a wonderful history of more than 150 years when it first opened a branch in Kolkata in the year 1860. The fact that the bank managed to evolve through various eras of the historical panorama proves its ability to adapt to the preferences of the Indian market.
Having initially concentrated its efforts on helping the French firms to conduct trade in other countries, BNP Paribas has continued to expand together with India since the country achieved its freedom, and today it has created its branches within the city of Delhi and other modern operations within Mumbai. The fact that the institution has heavily invested in its infrastructure like the construction of special banking facilities is an indicator that the institution is committed to the country in the long run.
Key Services:
- Investment and Corporate banking
- Solutions to international trade finance
- Products such as insurance and investment
- Treasury services / foreign exchange
- Wealth solutions and management of assets
- Capital markets and capital markets Structured financing
Target Customer: The business customers are large corporates and institutional clients and businesses needing connection to the European market.
USP: Oldest Credit relationship with India with an incomparable entry and expertise to the European market.
Presence in India: 6 branches in India
Official Website: https://group.bnpparibas/en/
7. Barclays Bank
Since opening operations in India in 1990, Barclays Bank has become a major employer with an employment of more than 23,000 within the banking section, technology and shared services departments that have developed a strong foothold amongst foreign banks established in India.
The institution has also shown a great interest in the Indian market by making more than $800 million investments in India which is among the largest capitals that any foreign banking institution has ever invested in the country. The skills of Barclays in advising on mergers and acquisitions, investment banking as well as corporate banking has made it consecutively ranked among the best arrangers of domestic debt and offshore bonds.
Key Services:
- M&A advisory; investment banking
- Banking, lending services
- Investment management and wealth management
- Securities services and capital markets
- Common services and technology
- High-net-worth high-end banking Private banking
Target Customer: Institutional Large corporations, investors, ultra-high-net-the amounts of people who need sophisticated financial solutions.
USP: First foreign bank to have committed the highest capital in India and best-rewarded use of services in its branch of private banking.
Presence in India: 5 strategic locations
Official Website: https://www.barclays.in/
8. Bank of America
Bank of America has been strategizing with the other foreign banks in India who do not speculate on retail banking services but rather on corporate and investment banking services. It has continued to develop massive operations in major cities such as Bangalore, Delhi and Mumbai in which it provides multinational companies and other financial institutions with integrated banking services.
The service offering of Bank of America consists of investment management, treasury services, finance, trade, corporate banking, mergers and acquisition, and capital market knowledge. The bank has a global technology and operations centre in Mumbai, which facilitates critical support to the worldwide operations but scandalously, it still operates within the compliance of regulations.
Key Services:
- Corporate and investment banking
- Cash management and Treasury services
- M&A advisory
- Securities services and Capital markets
- International banking and trade finance
- Strategic global technology and operations Guidance
Target Customer: multinational corporations, financial institutes and big companies that might need high-tech corporate banking services.
USP: Independent Indian company, with its own governance system that guarantees regulation and local concentration in business.
Presence in India: 3,700 retail financial centers worldwide
Official Website: https://www.bankofamerica.com/
9. Bank of Bahrain and Kuwait
Bank of Bahrain and Kuwait (BBK) has had its own focused commitment as a foreign bank in India since 1986 and operates with well placed branches in New Delhi, Aluva, and Hyderabad. The institution focuses on offering high quality banking services catering to the structured finance solutions of the mid-sized corporations and the small medium enterprises.
BBK is a leader in the foreign banking sphere by being skilled in External Commercial Borrowings to large companies. The fully diversified service range of the bank encompasses credit solutions and advancements, implementation of deposit, NRI facilities, and dealing room facility, strong remittance divisions.
Key Services:
- SMEs structured finance
- External Commercial Borrowings (ECBs)
- NRI banking and NRI investment
- Deposit products and credit products
- Forex and remittance services
- Investing in portfolio and mutual funds
Target Customer: medium-sized corporates, SMEs, Non- resident Indians and other businesses that need the connectivity to Middle Eastern markets.
USP: Structured finance solutions, NRI services and personalised investment solutions.
Presence in India: 4 branches
Official Website: https://www.bbkonline.com/
10. Doha Bank
Doha Bank is among the younger members of the foreign banks in India as it commenced its first branch in Mumbai in June 2014 and followed up with opening in Kochi. Though the bank is relatively young, it has managed to establish a full service portfolio comprising credit facility services, deposit services as well as NRI services.
The widespread international communication network supported by Doha Bank facilitates the success of trade finance and remittance services that allow Indian businesses and citizens to trade with the rest of the world. The branches of the institution are well equipped with an NRI department that is well geared to deliver customized support to Non-Resident Indians in search of banking services.
Key Services:
- Export finance and foreign trade
- Business banking and lending
- NRI banking and tailor made services
- Deposit products, investments choices
- Foreign Exchange and remittance services
- Banking services to corporations
Target Customer: Non-Resident Indians, the businesses linked to the Middle East, and people who need a Qatar-India banking service.
USP: Latest foreign bank entry, specialised in Middle East connectivity and full bodied service of NRIs.
Presence in India: 3 branches
Official Website: https://qa.dohabank.com/
List of All Foreign Banks in India (Full List)
| Bank Name | Country of Origin | Number of Branches | Primary Focus | Official Website |
| Standard Chartered Bank | United Kingdom | 100+ | Corporate & Retail Banking | https://www.sc.com/ |
| Citibank N.A | United States | Multiple | Corporate & Investment Banking | https://www.citigroup.com/global |
| HSBC Bank | United Kingdom | Multiple | International Banking | https://www.hsbc.co.in/ |
| Deutsche Bank | Germany | Limited | Investment Banking | https://www.db.com/ |
| DBS Bank | Singapore | 7 | Digital Banking | https://www.dbs.com/in/index/default.page |
| BNP Paribas | France | Multiple | Corporate Banking | https://group.bnpparibas/en/ |
| Barclays Bank | United Kingdom | Limited | Investment Banking | https://home.barclays/ |
| Bank of America | United States | 3 | Corporate Banking | https://www.bankofamerica.com/ |
| Bank of Bahrain and Kuwait | Bahrain | 3 | SME & NRI Services | https://www.bbkonline.com/ |
| Doha Bank | Qatar | 2 | NRI Services | https://qa.dohabank.com/ |
| AB Bank Ltd. | Bangladesh | Limited | Corporate Banking | https://abbl.com/ |
| Abu Dhabi Commercial Bank | UAE | Limited | Corporate Banking | https://www.adcb.com/en/personal/ |
| American Express Banking | United States | Limited | Corporate Services | https://www.americanexpress.com/ |
| ANZ Banking Group | Australia | Limited | Corporate Banking | https://www.anz.com.au/personal/ |
| Bank of Ceylon | Sri Lanka | Limited | Trade Finance | https://www.boc.lk/ |
| Bank of China | China | Limited | Trade Finance | https://www.boc.cn/en/ |
| Bank of Nova Scotia | Canada | Limited | Corporate Banking | https://www.scotiabank.com/global/en/global-site.html |
| Coöperatieve Rabobank | Netherlands | Limited | Corporate Banking | https://www.rabobank.com/ |
| Credit Agricole | France | Limited | Investment Banking | https://www.credit-agricole.com/en |
| Credit Suisse | Switzerland | Limited | Investment Banking | https://www.ubs.com/ |
| CTBC Bank | Taiwan | Limited | Corporate Banking | https://www.ctbcbank.com/content/dam/cbminisite/IN/index.html |
| Emirates NBD | UAE | Limited | Corporate Banking | https://www.emiratesnbd.com/en |
| First Abu Dhabi Bank | UAE | Limited | Corporate Banking | https://www.bankfab.com/en-ae/personal |
| FirstRand Bank | South Africa | Limited | Corporate Banking | https://www.firstrand.co.in/ |
| ICBC China | China | Limited | Trade Finance | https://www.icbc.com.cn/icbc/sy/ |
| Industrial Bank of Korea | South Korea | Limited | Corporate Banking | https://global.ibk.co.kr/ |
| JPMorgan Chase | United States | Limited | Investment Banking | https://www.jpmorganchase.com/ |
| JSC VTB Bank | Russia | Limited | Corporate Banking | https://vtbindia.com/ |
| KEB Hana Bank | South Korea | Limited | Corporate Banking | https://www.kebhana.com/easyone_index_en.html |
| Kookmin Bank | South Korea | Limited | Corporate Banking | https://omoney.kbstar.com/quics?page=oeng |
| Krung Thai Bank | Thailand | Limited | Trade Finance | https://krungthai.com/en/personal |
| Mashreq Bank | UAE | Limited | Corporate Banking | https://www.mashreq.com/en/uae/neo/ |
| Mizuho Bank | Japan | Limited | Corporate Banking | https://www.mizuhogroup.com/bank |
| MUFG Bank | Japan | Limited | Corporate Banking | https://www.bk.mufg.jp/global/index.html |
| NatWest Markets | United Kingdom | Limited | Investment Banking | https://www.natwestgroup.com/ |
| PT Bank Maybank | Indonesia | Limited | Corporate Banking | https://www.maybank.com/en/worldwide/india.page |
| Qatar National Bank | Qatar | Limited | Corporate Banking | https://www.qnb.com/ |
| Sberbank | Russia | Limited | Corporate Banking | https://www.sberbank.com/ |
| SBM Bank India | Mauritius | Multiple | Retail Banking | https://www.sbmbank.co.in/ |
| Shinhan Bank | South Korea | Limited | Corporate Banking | https://www.shinhanbankindia.com/ |
| Societe Generale | France | Limited | Investment Banking | https://www.societegenerale.com/en |
| Sonali Bank | Bangladesh | Limited | Trade Finance | https://www.sonalibank.com.bd/ |
| Sumitomo Mitsui Banking | Japan | Limited | Corporate Banking | https://www.smbc.co.jp/global/ |
| United Overseas Bank | Singapore | Limited | Corporate Banking | https://www.uobgroup.com/uobgroup/index.page |
| Woori Bank | South Korea | Limited | Corporate Banking | http://eng.wooribank.com/ |
The “Best” Foreign Bank in India: Finding the Right Fit for You
The choice of the most suitable foreign bank in India solely depends on the personal financial needs and requirements of doing business, and individual preferences alone. Every bank has its own strength and specialization that addresses various customer groups and bank goals.
- Accessibility: Select banks that have wide international coverage whether you make regular cross border settlements or need global banking facilities.
- Digital Innovation: The tech-savvy should choose banks that have been digitalized with superior digital systems, mobile banking applications, and online service provisions to stay more comfortable when banking.
- Niche Services: Companies that need specialised products such as trade finance delivery, structured lending, investment banking must choose institutions that have track records in such matters.
- Customer Segment: High-net-worth clients may want to approach banks that have a specific bank within the bank dedicated to them that is all about personal banking, whereas a SME would want to approach a bank that may be particularly dealing within the business bank side.
- Relationship Banking: Think of the relationship banking where banks provide unique relationship management and customer dedicated support personnel in case of complex financial requirements and long term requirements.
Advantages and Disadvantages of Banking with Foreign Banks
Advantages
- Global Connectivity: International banking operations of foreign banks are highly connected and accessed in a smooth manner without difficulties hence efficiently conducting cross-border opportunities and accessing worldwide accounts by global customers.
- High-Tech: Such banks are commonly known to provide state-of-the-art digital banking systems, advanced financial instruments and high-quality online bank deals that are realized to be better than the many at home.
- Access to Expertise: Customers are able to share in international financial experience, a global outlook of the financial markets, and expertise in the provision of trade finance and investment banking products.
- Special services: The services that foreign banks tend to offer to qualified customers include special banking services, customer relationship management, and also to international investment opportunities.
- Regulatory Standards: These institutions have high standards in regulatory compliance and firm risk management which promotes financial stability and customer security.
Disadvantages
- Poor Accessibility: There are fewer branches and ATMs of foreign banks than those of domestic banks, which may cause some inconvenience among those customers who need to visit banks physically very frequently.
- Excessive Prices: There are usually higher costs in terms of service charges and fees imposed and the minimum balance can be quite prohibitive to the normal customer.
- Complicated Processes: The opening of accounts and loans might be more demanding and take a longer time as it involves a lot of paperwork and remits that one has to meet a high threshold.
- Cultural Barriers: The knowledge of a foreign language and ignorance of local practices can cause problems and miscommunication in the services provision to certain customers.
- Small Outreach: These banks are concentrated in big cities and urbanization thus leaving the customers in the rural and semi-urban areas with not much reach to these services.
Conclusion: Making an Informed Decision
International banks in India have an ever greater impact on India’s financial system and provide complex instruments that supplement the offerings by Indian banks. Such institutions attract international knowledge, sophisticated technology and new products that can meet various end user requirements such as personal customers and elaborate financing demands of businesses.
As far as foreign banks in India are concerned, one should pay attention to several aspects which include a range of provided services, international connections, IT-savvy focus, and their fit with your personal financial goals. The competitive environment provides customers with the best banking services in the world in terms of lending them the international trade finance, wealth management, and the most innovative forms of digital banking experience.
Frequently Asked Questions (FAQs)
What is the number of the existing foreign banks in India?
In India, there are about 45 foreign banks that continue to operate either through their different structural models like branches, representative offices.
What are the principal benefits of preferring foreign banks in India?
The foreign banks in India bring international connectivity, high technology, international skills, and high quality banking facilities having a solid regulatory framework.
Can single customers make accounts abroad in the Indian banks?
Indeed, individual customers are allowed to open accounts with most of the foreign banks in India, but the level of minimum balance and eligibility may be high.
What are the finest foreign banks in India to use digital banking services?
The foreign banks that are quite advanced in digital banking and innovative technology include DBS Bank, Citibank, and HSBC in India.
Is there any safety of depositing in foreign banks in India?
Yes, the foreign banks in India are governed under regulations of RBI and even have high standards on their safety with deposit insurance coverage being offered on the basis of the Indian banking norms.
