HDFC Bank, one of India's premier banks, has been declared the 'Best Private Banking Services overall' in the Euromoney's annual global Private Banking and Wealth Management Poll - 2010. The survey also recognized HDFC Bank as the 'Best Local Bank in India' for the second consecutive year.
According to Euromoney, HDFC Bank's nomination as 'Best Private Banking Services' indicates the Bank's excellence in both advisory and portfolio management across a range of asset classes and investment styles.
The rankings are based on qualitative and quantitative survey supported by quantitative data provided by the participating banks. The survey also includes competitors' perceptions of the best performing providers in defined client and product categories.
Commenting on this recognition, Abhay Aima, Group Head – Equities, Private Banking, Third Party Products, NRI & International Consumer Business said "It is an honor for us to be conferred with these awards. At HDFC Bank, we understand the challenges in the market and strongly believe that we have the right business strategy to address the growing market needs and capitalize on opportunities to build partnerships for mutual development with our clients. The growth in private banking in India is inclusive and we are witnessing growth from Tier II and Tier III cities also."
He further added, "In the process we have also outperformed all global private banks operating in India. Interestingly even in Asia, in the private bank category, we have moved up in rankings, to 10th position in the current year from 23rd in the previous year."
The survey results reflect a global trend where new regional/ national players along with a few leading international banks are now making good inroads in the global Private Banking space. Euromoney Private Banking and Wealth Management Services is the global industry benchmark for the wealth management industry and cover over 60 countries every year, as well as global and regional awards. The results are based on combinations of performance figures and nominations. The year Euromoney received a total of 1800 votes, up almost 10% on last year's poll. Votes cast represented $6.8 trillion of assets under management.
/afaqs/media/member_avatars/b19bc90752f22463c21493ea40ad04dd26b32ea4045d163717734c0181e00e52.png )
Follow Us/afaqs/media/agency_attachments/2024-10-10t065829449z-afaqs_640x480.png)
/afaqs/media/post_attachments/9a2921fd118a4bdae2ec575b7b25324995fdd6e26df15154eed0c06e8df5bdc0.jpg)