the Pic - Mr. Sukarm Bali, Senior
VP, HDFC Bank Ltd, flanked by Mr.
Clive Horwood - Editor of Euromoney
(right) and Mr. Lawrence White - Asia
Editor of Euromoney.
Our Bank has been
named Best Bank in India in the Euromoney Awards for
Excellence 2011. The awards
were presented at the Euromoney Asia
Awards ceremony in Hong Kong on July
14, 2011. Mr. Sukarm Bali,
Senior VP received the award on behalf
of our Bank.
The award citation reads:
"India's best bank award tends to
be between the country's largest private
sector lenders, HDFC and ICICI, interspersed
with the occasional exception (Standard
Chartered won the title in 2010 after
an outstanding year).
This year the pendulum swings back
to the 'Big Two', and in the direction
of HDFC Bank, a genuinely
outstanding lender in a country whose
banks are mostly focused on domestic
affairs. HDFC is a worthy winner of
this award. Net profit rose 33 per
cent in the financial year to March
31 (ICICI Bank's earnings by contrast
rose by 28 per cent).
At every turn, HDFC Bank's figures
are impressive. Its full-year dividend
per share rose 37.5 per cent; its
balance sheet and deposit base expanded
in size by a quarter; and - perhaps
following a broad decree from the
Reserve Bank of India to all banks
to expand more into third- and fourth-tier
cities - its branch network expanded
by more than 250, in 217 new cities,
to nearly 2,000.
HDFC crushes its rivals in every conceivable
way, and the view is backed up by
every analyst and banker contacted
on this subject by Euromoney. Noted
one of the best analysts on the street
- 'HDFC from an investor's viewpoint
is the best place to park your money,
and where you have no worries about
the asset or management quality."