Legacy of Trust: India’s 5 Oldest Banks Still Thriving After 77 Years

Business News: The banking sector is the backbone of global economies. It plays an important role in the economic growth and development of any country. The older and more established a bank, the greater its trust and legacy. News of banks going bankrupt has been in the headlines recently. However, there are banks whose foundations were laid during the British era and are still functional 77 years after independence. Here's a list of five banks that have been around since the British era.

State Bank of India (SBI)

The State Bank of India is the largest operating public sector bank in India. It is one of the oldest banks and was established in 1906, under the name Bank of Calcutta.

Allahabad Bank

The Allahabad Bank comes second on the list of the oldest banks in the country. It was founded in 1865 during the British rule by Europeans. It was later merged with Indian Bank in 2020.

Punjab National Bank

The bank was established in 1894 in Lahore. It was founded by Lala Lajpat Rai, Lala Harkishan Lal, and other prominent leaders. The bank currently has 10,189 branches and 11,822 ATMs as of March 2025.

Canara Bank

The first branch of Canara Bank was opened in 1906 in Bengaluru. The bank was founded by Ammembal Subbaraya Pai. It was later nationalised in 1969.

Bank of India

The Bank of India was the first ever bank established during British rule in 1906. It later opened its first overseas branch in London in 1946. The Bank was under private ownership and control till 19 July 1969, until it was nationalised along with 13 other banks.