The largest digital banks, valuewise are: HDFC Bank, SBI and ICICI Bank.

When we say Digital, we refer to the transactions made by the customer outside of the banking premises, hence, ATM and Mobile Banking both are included.

SBI is by far the largest when it comes to ATM transactions. In August 2018, the value of its ATM transactions was Rs. 1,11,000 cr. HDFC Bank stood second at Rs. 18,600 cr and ICICI third at Rs. 17,000 cr.

However, this was not the scene when the turn of mobile banking (m-banking came). In terms of value, HDFC Bank accounts for 15% of all mobile banking transactions in the country. In August 2018, it stood at Rs. 34300 cr compared to a much larger bank, SBI which had Rs. 30,400 cr. Its private bank peer ICICI Bank was at Rs. 29,700 cr.

HDFC Bank’s ratio of m-banking transactions v/s ATM transactions is roughly 2:1. This bank is by far the largest in digitising its customer banking. If we include non financial transactions such as balance enquiry, transaction confirmations etc, the volumes go very high. In comparison, SBI is ATM dependent.