The paper empirically studies the total factor productivity (TFP) growth of 41 commercial banks in China from 2000 to 2018 with non-parametric Malmquist DEA frontier analysis. The outcome shows that there exists obvious differentiated TFP growth among different types of commercial banks in China, and the key factors resulting this differentiated growth are also quite different: technology innovation contributes the most for the TFP growth of the nationwide joint-stock commercial banks; the regional commercial banks benefit more from their own efficiency improvement; while the giant State-Owned commercial banks perform below the average in both technology innovation and efficiency improvement, thus have a relatively lower growth rate. The conclusion can provide a reference for commercial banks in China to achieve sustainable medium-high rate of growth through innovation-driven by increasing technology input, enhancing technology innovation and improving operating efficiency.