- HDFC Bank wins for the 5th year in a row
- More than 150 retail financial institutions participated from 29 countries across the Asia Pacific, the Middle East, Central Asia and African regions
HDFC Bank, second largest private bank in the country, has won The Asian Banker's ’Best Retail Bank in India’ award this year. Beating a host of other competitors in Asia Pacific, the Middle East, Central Asia and Africa on a range of parameters, the Bank has won the ’Best Retail Bank in India’ award for the fifth year in a row.
Some of the parameters that winners were measured on:
- Outstanding annual performance of the retail banking unit
- Sustainability as a franchise over a long period of time and across economic cycles
- A well-defined franchise in the chosen marketplace
- Transparency and accountability of business model
- Ethical banking
- Clear sales and execution skills at the product level
- Rigorous risk management capabilities
- Superior business and operational processes and technology
- Strong penetration and efficiency of distribution channels
- Focus on developing human resources to support the bank’s strategy
Announcing the Asian Banker Excellence awards, the publication has observed in its communication to the company, ”HDFC Bank has passed all stringent screening and requirements throughout the Excellence in Retail Financial Services evaluation process and been granted the awards.”
The Asian Banker Excellence in Retail Financial Services Programme was instituted in 2001 on the premise that an outstanding player in the retail financial services industry should build business franchises that are sustainable, competitive and profitable over a period of time.
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its over 18 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 13 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of December 31, 2010, the Bank had a distribution network with 1,780 branches and 5,121 ATMs in 833 cities.
For the quarter ended December 31, 2010, the Bank’s total income was INR 63.57 billion ('6,357.8 crore) as against INR 49.34 billion ('4,933.9 crore) for the quarter ended December 31, 2009. Net revenues (net interest income plus other income) were INR 39.04 billion ('3,904.5 crore) for the quarter ended December 31, 2010, an increase of 25.0% over INR 31.23 billion ('3,123.0 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended December 31, 2010 was INR 10.87 billion ('1087.8 crore), up by 32.9% over the corresponding quarter ended December 31, 2010.
The Bank’s total balance sheet size increased by 22.1% to INR 2498.20 billion ('249,820.0 crore) as of December 31, 2010. Total deposits were INR 1922.02 billion ('192,202.0 crore), up by 24.2% over December 31, 2009.
Total income for the year ended March 31, 2010 were INR 199.80 billion ('19980.5 crore).
Leading Indian and international publications have recognized the bank for its performance and quality.
For more information please log on to: www.hdfcbank.com
