HT Bureau
GUWAHATI, Aug 10: HDFC Bank announced that it has been adjudged ‘Best Bank in India’ at the Euromoney Awards for Excellence 2022 for the 4th consecutive year. In its editorial, Euromoney wrote, “In a challenging environment, retail and treasury profit fell, but was more than compensated for by a knockout 38.6% growth in the wholesale banking business. And through all of this, non-performing loans – consistently the lowest in the industry through Covid – fell to just 1.17% gross. In the year to March 31, 2022 – a difficult environment for many in financial services – HDFC’s profit after tax rose 14.6% to the equivalent of USD 4.88 billion.”
Notably, the awards were introduced in 1992 and are based on year-round monitoring of market share and customer satisfaction data compiled by Euromoney’s industry-leading surveys. This is supplemented by an intensive three-month process of review by Euromoney’s editorial team, culminating in interviews with shortlisted candidates.
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In its awards issue, Euromoney further wrote, “HDFC Bank, led by chief executive Sashidhar Jagdishan, has managed this so consistently over the years by doing the simple things right. It has steered clear of scandal, its risk management division is peerless and it never does anything stupid. Based on this sturdy foundation, it has then found the best things to excel at: the largest cash-management player in the country, for example, and a leader in supply-chain financing, as well as a local bank of choice for multinational corporations operating in India.”
