HDFC Bank, one of India's premier banks, has won The Asian Banker's 'Best Retail Bank in India' award this year. Beating a host of other competitors in Asia Pacific, Gulf Cooperation Council (GCC) and Central Asia on a range of parameters, the Bank has won the 'Best Retail Bank in India' award for the fourth year in a row. The Bank also emerged best in the "Automobile Lending" sector.
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 2009, 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.
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