ICICI Bank has claimed that it still retains its position of being the second largest bank of the country following banking major, SBI in terms of total assets.

This statement from the bank came after Punjab National Bank declared itself to be the second largest bank of the country in terms of total business.

PNB has declared having generated a total business of Rs 4,35,000 crore for fiscal 2009-10, which is higher than Rs 3,83,223 crore for the same fiscal generated by ICICI Bank.

"ICICI Bank continues to be the second largest bank in the country by assets. The total book-size of the bank at March 31, 2010, was Rs 3,63,400 crore," ICICI Bank spokesperson Rahul Virkar said.

ICICI Bank said that the total assets of PNB worth to Rs 2,96,643 crore.

"In terms of balance sheet size, ICICI Bank is larger, since banks extend loans as well as make investments. Hence, for defining 'second largest lender' it is assets which are relevant (rather than advances and deposits)," ICICI said.