HDFC Bank was adjudged ‘India’s Best Bank’ at the Euromoney Awards for Excellence 2020. This year marks the 28th anniversary of the coveted Euromoney Awards for Excellence. It is also the 13th time that the bank has been recognized as “India’s Best Bank”.
In its editorial, the magazine writes, “Aditya Puri’s successor at HDFC Bank will have much to live up to when one of India’s greatest bankers exits the bank in October 2020 when his term expires. Since its formation in 1994, Puri has turned HDFC Bank into India’s largest and best private-sector lender, with a balance sheet of around Rs 14 trillion ($184 billion).”
A first of its kind in the global financial publishing industry, the awards were introduced in 1992. The awards 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 face-to-face interviews with shortlisted candidates.
This year, Euromoney received almost 1,000 submissions from banks in its regional and country awards programme that covers more than 50 regional awards and best bank awards in close to 100 countries.
In its awards issue, the magazine writes, “Puri has transformed HDFC Bank into one of India’s most innovative financial institutions. Its full-service payment management service SmartHub platform is used by thousands of private-sector firms. Meanwhile, the bank’s online share trading platform, DigiDemat, secured more than 15,000 customers within a month of its launch in May 2020. Next up for HDFC is the launch of online banking services on WhatsApp.”