HDFC Bank has been recognized as the ‘Best Bank in India’; by global magazine FinanceAsia for the 4th consecutive year. The Bank adjudged as India’s top bank at the publication’s Country Awards; for Achievement 2020 for its conservative retail lending policies and security of deposits.
In its editorial on the bank, FinanceAsia states; “It feels like a secure home for depositors aware of rising levels of fraud cases; across the wider financial services sector. The bank’s conservative retail lending policies also mean; that financial analysts believe it will navigate through the COVID-19 storm.
In its latest issue, the magazine writes – “HDFC Bank’s hold on this award has only strengthened during the awards period. As many financial analysts have noted, India’s most profitable private sector bank has become a safe port in very stormy seas for an Indian economy beset by slowing growth and a banking sector weighed down by bad loans. Safety first ethos is reflected in the bank’s capital and NPL ratios. S&P data shows an overall CAR of 18.25% for FY 2020 compared to 16.77% the year before; of which core tier 1 amounted to 17.01%.”
Methodology:
FinanceAsia’s annual Country Awards for Achievement recognises outperforming banks from countries in the Asia-Pacific region. The magazine bestows the recognition on the banks after taking into consideration their performance, vision, and long-term strategy.
For the second year running, a high-profile editorial advisory board also aided the editors; by providing a peer review across the region.