PROFILE OF BANKING SECTOR - Shodhganga
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CHAPTER 4
PROFILE OF BANKING SECTOR
This chapter provides detailed profile of both public sector and private
sector banks which includes introduction to banking sector in India, profile of SBI,
profile of IOB, profile of ICICI bank, profile of HDFC bank. This chapter also has
been focused on mission, vision and other services and products of the banks
mentioned in this chapter.
4.1 Introduction to Banking Sector in India
The establishment of the Bank of Bengal marked the advent of limited
liability, joint-stock banking in India. So was the associated innovation in banking,
viz. the decision to allow the Bank of Bengal to issue notes, which would be
accepted for payment of public revenues within a restricted geographical area. This
right of note issue was very valuable not only for the Bank of Bengal but also its two
siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of
the banks, a capital on which the proprietors did not have to pay any interest. The
concept of deposit banking was also an innovation because the practice of accepting
money for safekeeping (and in some cases, even investment on behalf of the clients)
by the indigenous bankers had not spread as a general habit in most parts of India.
But, for a long time, and especially up to the time that the three presidency banks
had a right of note issue, bank notes and government balances made up the bulk of
the investible resources of the banks.
The three banks were governed by royal charters, which were revised
from time to time. Each charter provided for a share capital, four-fifth of which were
privately subscribed and the rest owned by the provincial government. The members
of the board of directors, which managed the affairs of each bank, were mostly
proprietary directors representing the large European managing agency houses in
105India. The rest were government nominees, invariably civil servants, one of whom
was elected as the president of the board.
4.2 Profile of State Bank of India
Mission, Vision & Values
VISION
My SBI
My Customer first
My SBI: First in customer satisfaction
MISSION
We will be prompt, polite and proactive with our customers.
We will speak the language of young India.
We will create products and services that help our customers achieve
their goals.
We will go beyond the call of duty to make our customers feel valued.
We will be of service even in the remotest part of our country.
We will offer excellence in services to those abroad as much as we do
to those in India.
We will imbibe state of the art technology to drive excellence.
VALUES
We will always be honest, transparent and ethical.
We will respect our customers and fellow associates.
We will be knowledge driven.
106We will learn and share our learning.
We will never take the easy way out.
We will do everything we can to contribute to the community we work
in.
We will nurture the pride of India
4.3 Profile of Indian Overseas Bank
Established in 1937, Indian Overseas Bank (IOB) is a Chennai based leading bank in
India. IOB had the distinction of simultaneously commencing operations in three
branches at Karaikudi, Chennai, and Yangon (Myanmar). Since IOB aimed to
encourage overseas banking and foreign exchange operations, it soon opened its
branches in Penang and Singapore. Today, Indian Overseas Bank boasts of a vast
domain in banking sector with over 1400 domestic branches and 6 branches
overseas. IOB was the first bank to venture into consumer credit, as it introduced the
popular Personal Loan scheme. In 1964, the Bank started computerization in the
areas of inter-branch reconciliation and provident fund accounts. Indian Overseas
Bank was one of the 14 major banks which were nationalized in 1969.
Indian Overseas Bank (the Bank) is engaged in the business of banking.
The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail
Banking and Other Banking Operations. Its operations consist of domestic deposits;
domestic advances; foreign exchange operations; investments; micro, small and
medium enterprises, including MUDRA Loan Scheme; retail banking, including
Arogya Mahila Savings Bank Accounts; Mid Corporate department; agricultural
credit portfolio; loans to small and marginal farmers; loans to non-corporate farmers,
and microfinance. Its personal banking services which include saving bank, current
account, term deposit, retail loans, and mortgages and depository services. It offers
merchant banking for issues, debenture trustee, dividend/interest warrant and others.
It also offers Internet and mobile banking services. It has over 3,400 branches in
India besides eight overseas branches with operations in Hong Kong, Bangkok, Sri
Lanka, Singapore and South Korea.
107Products and Services
Its services include
Saving bank
Current account
Term deposit
Retail loans
Mortgages and
Depository services.
OTHER SERVICES AND PRODUCTS:
VISA International Credit Cards
VISA Debit Card
IOB Fine Gold
Real Time Gross Settlement (RGTS)
Forex Collection Services
Agriculture and Business Consultancy Service
Investment options like Mutual Funds and Shares
Besides these products and services, any info on the current interest rates,
news on shares and Forex rates, address and phone number of your nearest Indian
Overseas Bank Branch or ATM is all available on the official website of Indian
Overseas Bank. The site also provides recruitment news and the job vacancies in
IOB. Indian Overseas Bank provides Internet Banking Services to its customers that
is an easy and time saving access to your bank account right to your tabletop. Just
login to your net banking account available online at the home page of IOB website
108and get the banking service you desire instantly. Besides several customer care
helpdesks are also provided in the IOB branches.
Rural
With the Indian economy opening up to investment from foreign sources
and the realization of the potential of the agricultural and agri-related sectors, IOB
has introduced various consultancy services. The objective of this division of IOB is
to foster and encourage the growth of all agriculture related businesses.
The Agri Business Consultancy Services was setup in 1996 at the Central
Office of IOB in Chennai for the purpose of encouraging and fostering Agriculture,
Horticulture, Agro-Processing, Agro-Forestry, Animal Husbandry, Infra-structure
Parks etc., and related to Agro industries primarily through provision of quality
consultancy.
All agriculture related businesses are different and require meticulous
attention. At ABC Services every aspect of a business/project is dealt with in detail
within the defined objectives, leading to positive action and investment.
The Indian economy has opened up to Foreign Direct investment from
other countries. This has spawned the growth of a variety of agriculture related
projects that have been identified as profitable investment avenues, of which a few
are listed below.
Food Processing
Development of wasteland orchards
Floriculture
Green House cultivation of high value vegetables
Bio-Technology
Environmentally controlled commercial broiler/layer farming
109Cultivation of medicinal and aromatic plants etc. The Govt. of India has
recognized the potential of commercial agriculture and has committed to develop the
Indian economy through this sector. In order to facilitate the growth of Hi-Tech
agriculture, the need of the hour is quality consultancy services. The IOB's ABC
Services step into fill the vacuum.
VISION STATEMENT – 2013-2020
“To be among the top five nationalized banks in terms of business
volumes and sustained profitability with global recognition guided by high
standards of governance and ethics; and emerge as the “Most Preferred Banking
Partner” to unlock value to all its stakeholders.”
CORE VALUES
• Customer Centricity:
• Good people to grow with
• Touching Hearts and Spreading Smiles
• Honesty, Integrity, Fairness & Transparency
• Build Leaders for Industry
• Team of Skilled & dedicated Employees
• Innovation & Risk Appetite
• Green Banking
MISSION STATEMENT – 2013-2020
Deliver the best of competitive products in terms of quality, range, utility
and cost effectiveness to:
i. Optimize our HR resources through training, exposure, mentoring
and incentive, relying on the “soft touch” instead of the “big stick“.
110ii. Develop quality bankers who would rise to be future leaders of the
industry.
iii. Contribute to country’s economic growth through dedicated efforts
and customer focus.
iv. Streamline the process of service delivery from time to time to
meet emerging requirements.
v. Nurture a climate of creative problem-solving to resolve customers’
grievances with alacrity ensuring that the Bank is regarded as
Customer Centric.
vi. Emphasize a policy-oriented and rule-driven culture of compliance
to meet evolving requirements.
vii. Engineer CRM (Customer Relationship Management) and insights
gained for further enhancement of products and service quality.
viii. Expand IT infrastructure to deliver all banking services from “one
tap” irrespective of customer location.
ix. Adopt a multi-disciplinary approach to facilitate future growth
through the evolution of “banks within the Bank”
4.4 Profile of ICICI Bank
ICICI Bank is India's largest private sector bank with total assets of Rs.
6,461.29 billion (US$ 103 billion) on March 31, 2015 and profit after tax of Rs.
111.75 billion (US$ 1,788 million) for the year ended March 31, 2015. ICICI Bank
currently has a network of 4,450 Branches and 13,916 ATM's across India.
ICICI Bank offers a wide range of banking products and financial services
to corporate and retail customers through a variety of delivery channels and through
its specialized subsidiaries in the areas of investment banking, life and non-life
insurance, venture capital and asset management.
111The Bank currently has subsidiaries in the United Kingdom, Russia and
Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka,
Qatar and Dubai International Finance Centre and representative offices in United
Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
Our UK subsidiary has established branches in Belgium and Germany.
ICICI Bank's equity shares are listed at Bombay Stock Exchange in India
and the National Stock Exchange of India Limited and its American Depositary
Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).Prudential
place of the United Kingdom is not affiliated to any manner with Prudential
Financial, Inc., a company whose principal place of business is in the United States
of America.
Branches & ATMs
ICICI Bank has a wide network both in Indian and abroad. In India alone,
the bank has 1,420 branches and about 4,644 ATMs. Talking about foreign
countries, ICICI Bank has made its presence felt in and around 18 countries -United
States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International
Finance Centre and representative offices in United Arab Emirates, China, South
Africa, Bangladesh, Thailand, Malaysia and Indonesia. The Bank proudly holds its
subsidiaries in the United Kingdom, Russia and Canada out of which, the UK
subsidiary has established branches in Belgium and Germany.
PRODUCTS & SERVICES
Personal Banking
Deposits
Loans
Cards
Investments
112Insurance
Demat Services
Wealth Management
NRI Banking
Money Transfer
Bank Accounts
Investments
Property Solutions
Insurance
Loans
Business Banking
Corporate Net Banking
Cash Management
Trade Services
FXOnline
SME Services
Online Taxes
Custodial Services
Corporate Social Responsibility
ICICI Bank is deeply engaged in human and economic development at the
national level. The Bank works closely associate with ICICI Foundation across
diverse sectors and programmes.
113Mission and vision
The official vision statement of ICICI Bank is: "To be the leading
provider of financial services in India and a major global bank." The mission
statement of ICICI Bank consists of several points, but the first is to become the first
choice among customers by providing world-class services.
4.5 Profile of HDFC
HDFC Bank is an Indian banking and financial services company
headquartered at Mumbai in Maharashtra. It has about 76,286 employees including
12,680 women and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank
is the second largest private bank in India as measured by its assets. It is the largest
bank in India by market capitalization as of February 2016. It was ranked 58th
among India’s most trusted brands according to Brand Trust Report, 2015
The Housing Development Finance Corporation Limited (HDFC) was amongst the
first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set
up a bank in the private sector, as part of RBI's liberalization of the Indian Banking
Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC
Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced
its operations as a Scheduled Commercial Bank in the month of January 1995.
Vision Statement
"Become the undisputed market leader in providing housing related
finances, to realize the dream of shelter for all in Sri Lanka"
Mission Statement
To our shareholders, our mission is to optimize returns.
To our customers, our mission is to provide a caring service by
anticipating their requirements and innovatively satisfying them beyond their
expectations.
114To our staff, our mission is to identify their multi-faceted talents, develop,
motivate, recognize and reward them towards fulfillment of the institutional and
national housing vision.
To the national economy and the industry regulator, we are the key driver
and thought leader, shaping and financing the national housing policy.
To our natural environment, we enforce sustainable practices across all
our activities.
Products and services
HDFC Bank provides a number of products and services which includes-
1. Wholesale banking services
2. Retail banking services
3. Treasury
Acquisitions
HDFC Bank was merged with Times Bank in February, 2000. This was
the first merger of two private banks in the New Generation Private Sector Banks
category. In 2008, Centurion Bank was acquired by HDFC Bank. HDFC Bank
Board approved the acquisition of CBoP for Rs. 9,510 crore is one of the largest
mergers in the financial sector of India.
Listings and shareholding
The equity shares of HDFC Bank are listed on Bombay Stock Exchange
and the National Stock Exchange of India. Its American Depository Shares are listed
on NYSE and the Global depository receipt are listed on the Luxembourg Stock
Exchange where two GDRs represent one equity share of HDFC Bank.
115Table 4.1 Table Showing Share Holding in HDFC Bank
Shareholders (as of 31 December-2015) Shareholding
Promoter Group (HDFC) 21.57%
Foreign Institutional Investors (FII) 32.40%
Individual shareholders 8.5%
Bodies Corporate 07.50%
Insurance companies 05.38%
Mutual Funds/UTI 8.65%
NRI/OCB/Others 00.29%
Financial Institutions/Banks 2.75%
ADS/GDRs 18.78%
CSR activities
HDFC Bank has taken several steps as a part of their Corporate Social
Responsibility. It has collaborated with several NGOs to assist in its activities.
Table 4.2 Table Showing CSR Activities of HDFC Bank
Initiative Objective Activities
Sustainable Provide empowerment to Conducts training for occupational
Livelihood the rural section of the skills, credit counseling, capacity
country, especially women. building program, sustainable livelihood
initiative
Financial Financial literacy in 600 Rural financial literacy programs under
Literacy schools across Andhra the aegis of RBI.
Pradesh and Odisha.
Education Aim to making every child Friends Union for Energizing Lives
literate with quality (FUEL), cover 100 children under
education. Jayaprakash Narayan Memorial Trust’s
Vidya and Child Programme.
Training Aimed at formal training ETASHA, support SGBS Trust, tied up
and development of youth with Hope Foundation
Community Focused on sustainable Partnered with Watershed Organisation
Initiatives development with Trust (WOTR), promote rain water
economic growth harvesting, blood donation campaigns
116Table 4.3 Table Showing Awards and Recognition
Best Performing Branch in Award for Best Performance in Microfinance
Microfinance among Private
sector bank by NABARD, 2016
KPMG study of India’s Best Bank of the year & best digital banking initiative
Banks award 2016
AIMA Managing India Awards Business leader of the year- Aditya Puri
2015
FinanceAsia poll on Asia's Best Best managed public company – India
Companies 2015
World's 30 Best CEOs – AdityaPuri
4.6 Profile of HDFC BANK
The Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an ‘in principle’ approval from the Reserve Bank of
India (RBI) to set up a bank in the private sector, as part of RBI’s liberalization of
the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in
the name of 'HDFC Bank Limited', with its registered office in Mumbai, India.
HDFC Bank commenced operations as a Scheduled Commercial Bank in January
1995.
PROMOTER
HDFC is India’s premier housing finance company and enjoys an
impeccable track record in India as well as in international markets. Since its
inception in 1977, the Corporation has maintained a consistent and healthy growth
in its operations to remain the market leader in mortgages. Its outstanding loan
portfolio covers well over a million dwelling units. HDFC has developed significant
expertise in retail mortgage loans to different market segments and also has a large
corporate client base for its housing related credit facilities. With its experience in
117the financial markets, strong market reputation, large shareholder base and unique
consumer franchise, HDFC was ideally positioned to promote a bank in the Indian
environment
BUSIN Business Focus
HDFC Bank’s mission is to be a World Class Indian Bank. The objective
is to build sound customer franchises across distinct businesses so as to be the
preferred provider of 0 services for target retail and wholesale customer segments,
and to achieve healthy growth in profitability, consistent with the bank’s risk
appetite. The bank is committed to maintain the highest level of ethical standards,
professional integrity, corporate governance and regulatory compliance. HDFC
Bank’s business philosophy is based on five core values: Operational Excellence,
Customer Focus, Product Leadership, People and Sustainability.
CAPITAL STRUCTURE
As on 31st March, 2015 the authorized share capital of the Bank is Rs.
550 crore. The paid-up share capital of the Bank as on the said date is
Rs501,29,90,634/- ( 2506495317 ) equity shares of Rs. 2/- each). The HDFC Group
holds 21.67 % of the Bank's equity and about 18.87 % of the equity is held by the
ADS / GDR Depositories (in respect of the bank's American Depository Shares
(ADS) and Global Depository Receipts (GDR) Issues). 32.57 % of the equity is held
by Foreign Institutional Investors (FIIs) and the Bank has 4,41,457 shareholders.
The shares are listed on the Bombay Stock Exchange Limited and The
National Stock Exchange of India Limited. The Bank's American Depository Shares
(ADS) are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB'
and the Bank's Global Depository Receipts (GDRs) are listed on Luxembourg Stock
Exchange under ISIN No US40415F2002
118AMALGAMATION OF TIMES BANK & CENTURION BANK OF PUNJAB
WITH HDFC BANK
On May 23, 2008, the amalgamation of Centurion Bank of Punjab with
HDFC Bank was formally approved by Reserve Bank of India to complete the
statutory and regulatory approval process. As per the scheme of amalgamation,
shareholders of CBoP received 1 share of HDFC Bank for every 29 shares of CBoP.
The amalgamation added significant value to HDFC Bank in terms of
increased branch network, geographic reach, and customer base, and a bigger pool
of skilled manpower. In a milestone transaction in the Indian banking industry,
Times Bank Limited (another new private sector bank promoted by Bennett,
Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., effective
February 26, 2000. This was the first merger of two private banks in the New
Generation Private Sector Banks. As per the scheme of amalgamation approved by
the shareholders of both banks and the Reserve Bank of India, shareholders of Times
Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank
DISTRIBUTION NETWORK
HDFC Bank is headquartered in Mumbai. As of March 31, 2015, the
Bank’s distribution network was at 4,014 branches in 2,464 cities.All branches are
linked on an online real-time basis. Customers across India are also serviced through
multiple delivery channels such as Phone Banking, Net Banking, Mobile Banking
and SMS based banking. The Bank’s expansion plans take into account the need to
have a presence in all major industrial and commercial centers, where its corporate
customers are located, as well as the need to build a strong retail customer base for
both deposits and loan products. Being a clearing / settlement bank to various
leading stock exchanges, the Bank has branches in centers where the NSE / BSE
have a strong and active member base.
The Bank also has a network of 11,766 ATMs across India. HDFC
Bank’s ATM network can be accessed by all domestic and international Visa /
119MasterCard, Visa Electron / Maestro, Plus / Cirrus and American Express Credit /
Charge cardholders
MANAGEMENT
Mrs. Shyamala Gopinath holds a Master’s Degree in Commerce and is a
CAIIB. Mrs. Gopinath has 39 years of experience in financial sector policy
formulation at different capacities in RBI. As Deputy Governor of RBI for seven
years and member of the Board. Mrs. Gopinath had been guiding and influencing
the national policies in the diverse areas of financial sector regulation and
supervision, development and regulation of financial markets, capital account
management, management of government borrowings, forex reserves management
and payment and settlement systems.
The Managing Director, Mr. AdityaPuri, has been a professional banker
for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's
operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a
wealth of sound experience in public policy, administration, industry and
commercial banking. Senior executives representing HDFC are also on the Board.
Senior banking professionals with substantial experience in India and
abroad head various businesses and functions and report to the Managing Director.
Given the professional expertise of the management team and the overall focus on
recruiting and retaining the best talent in the industry, the bank believes that its
people are a significant competitive strength.
TECHNOLOGY
HDFC Bank operates in a highly automated environment in terms of
information technology and communication systems. All the branches of bank have
online connectivity, which enables the bank to offer speedy funds transfer facilities
120to its customers. Multi-branch access is also provided to retail customers through the
branch network and Automated Teller Machines (ATMs).
The Bank has made substantial efforts and investments in acquiring the
best technology available internationally, to build the infrastructure for a world class
bank. In terms of core banking software, the Corporate Banking business is
supported by Flexcube, while the Retail Banking business by Finware, both from i-
flex Solutions Ltd. The systems are open, scalable and web-enabled.
The Bank has prioritized its engagement in technology and the internet as
one of its key goals and has already made significant progress in web-enabling its
core businesses. In each of its businesses, the Bank has succeeded in leveraging its
market position, expertise and technology to create a competitive advantage and
build market share
BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering
commercial and investment banking on the wholesale side and transactional / branch
banking on the retail side. The bank has three key business segments:
Wholesale Banking
The Bank’s target market is primarily large, blue-chip manufacturing
companies in the Indian corporate sector and to a lesser extent, small & mid-sized
corporates and agri-based businesses. For these customers, the Bank provides a wide
range of commercial and transactional banking services, including working capital
finance, trade services, transactional services, cash management, etc. The bank is
also a leading provider of structured solutions, which combine cash management
services with vendor and distributor finance for facilitating superior supply chain
management for its corporate customers. Based on its superior product delivery /
service levels and strong customer orientation, the Bank has made significant on
roads into the banking consortia of a number of leading Indian corporates including
multinationals, companies from the domestic business houses and prime public
121sector companies. It is also recognized as a leading provider of cash management
and transactional banking solutions to corporate customers, mutual funds, stock
exchange members and banks.
Treasury
Within this business, the bank has three main product areas - Foreign
Exchange and Derivatives, Local Currency Money Market & Debt Securities, and
Equities. With the liberalization of the financial markets in India, corporates need
more sophisticated risk management information, advice and product structures.
These fine pricing on various treasury products are provided through the bank’s
Treasury team. To comply with statutory reserve requirements, the bank is required
to hold 25% of its deposits in government securities. The Treasury business is
responsible for managing the returns and market risk on this investment portfolio
Retail Banking
The objective of the Retail Bank is to provide its target market customers
a full range of financial products and banking services, giving the customer a one-
stop window for all his/her banking requirements. The products are backed by
world-class service and delivered to customers through the growing branch network,
as well as through alternative delivery channels like ATMs, Phone Banking, Net
Banking and Mobile Banking.
The HDFC Bank Preferred program for high net worth individuals, the
HDFC Bank Plus and the Investment Advisory Services programs have been
designed keeping in mind needs of customers who seek distinct financial solutions,
information and advice on various investment avenues. The Bank also has a wide
array of retail loan products including Auto Loans, Loans against marketable
securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider
of Depository Participant (DP) services for retail customers, providing customers the
facility to hold their investments in electronic form.
122HDFC Bank was the first bank in India to launch an International Debit
Card in association with VISA (VISA Electron) and issues the MasterCard Maestro
debit card as well. The Bank launched its credit card business in late 2001. By
March 2015, the bank had a total card base (debit and credit cards) of over 25
million. The Bank is also one of the leading players in the “merchant acquiring”
business with over 235,000 Point-of-sale (POS) terminals for debit / credit cards
acceptance at merchant establishments. The Bank is well positioned as a leader in
various net based B2C opportunities including a wide range of internet banking
services for Fixed Deposits, Loans, Bill Payments, etc.
RATINGS / AWARDS
Credit Rating
HDFC Bank has its deposit programmes rated by two rating agencies -
Credit Analysis & Research Limited. (CARE) and Fitch Ratings India Private
Limited. The bank's Fixed Deposit programme has been rated 'CARE AAA (FD)'
[Triple A] by CARE, which represents instruments considered to be "of the best
quality, carrying negligible investment risk".
CARE has also rated the bank's Certificate of Deposit (CD) programme
"PR 1+" which represents "superior capacity for repayment of short term promissory
obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has
assigned the "tAAA (ind)" rating to the bank's deposit programme, with the outlook
on the rating as "stable". This rating indicates "highest credit quality" where
"protection factors are very high".
HDFC Bank also has its long term unsecured, subordinated (Tier II)
Bonds of Rs.4 billion rated by CARE and Fitch Ratings India Private Limited.
CARE has assigned the rating of "CARE AAA" for the Tier II Bonds while Fitch
Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the
rating as "stable". In each of the cases referred to above, the ratings awarded were
the highest assigned by the rating agency for those instruments.
123Corporate Governance Rating:
The bank was one of the first four companies, which subjected itself to a
Corporate Governance and Value Creation (GVC) rating by the rating agency, The
Credit Rating Information Services of India Limited (CRISIL). The rating provides
an independent assessment of an entity's current performance and an expectation on
its "balanced value creation and corporate governance practices" in future. The bank
was assigned a 'CRISIL GVC Level 1' rating in January 2007 which indicates that
the bank's capability with respect to wealth creation for all its stakeholders while
adopting sound corporate governance practices is the highest.
Awards and Accolades:
HDFC Bank began operations in 1995 with a simple mission: to be a
"World-class Indian Bank". We realized that only a single-minded focus on product
quality and service excellence would help us get there. Today, we are proud to say
that we are well on our way towards that goal.
Over the years, the Bank has received recognition and awards from
several leading organizations and publications, both domestic and international
(details are available onhttp://www.hdfcbank.com/aboutus/awards/default.htm).
Some important awards that the Bank won: 2015
AIMA Managing India Awards 2015 - Business Leader of the Year – AdityaPuri
Barron's - World's 30 Best CEOs – MrAdityaPuri
Finance Asia poll on Asia's Best - Best Managed Public Company - India'
Companies 2015 Best CEO- Aditya Puri Best Corporate
Governance- Rank 3 Best Investor
Relations- Rank 3
J. P Morgan Quality Recognition Award - Best in class straight Through
Processing Rates
1242014
Euromoney - HDFC Bank wins Best Private Banking
Services for Super affluent clients for 5
years in a row at Euromoney Awards
Euromoney Private Banking and Wealth - Best Private Banking Services award for
Management Survey 2015 Net-worth-specific services category for
Super affluent clients (US$ 1 million to
US$ 5 million).
- Best Private Banking Services award Asset
Management
FE Best Bank Awards - Best Bank in the New Private sector
- Winner – Profitability
- Winner - Efficiency
Business Today - KPMG Study 2014 - Best Large Bank – Overall
- Best Large Bank - Growth
Businessworld-PwC India Best Banks - Best Large Bank
Survey 2014 - Fastest Growing Large Bank
Asiamoney FX Poll 2014 - Best Domestic Provider of FX options
- Best Domestic Provider of FX products &
Services
- Best Domestic Provider of FX research &
market coverage
- Best Domestic provider for FX Services
The Asian Banker Strongest Bank in India in the Asian Banker
500 (AB 500) Strongest Bank by Balance
Sheet Ranking 2014
Dun & Bradstreet - Polaris Financial - Best Bank - Managing IT Risk (Large
Technology Banking Awards 2014 Banks)
- Best Bank - Mobile Banking (Large
Banks)
- Best Bank - Best IT Team (Private Sector
Banks)
Forbes Asia Fab 50 Companies List for the 8th year
BrandZ TM Top 50 Most Valuable Indian India's Most Valuable Brand
Brands study by Millward Brown
Finance Asia Country Awards 2014 and - Best Bank – India
poll on India's Top Companies - Best CEO- Rank 1
- Best CSR - Rank 1
- Best CFO - Rank 2
Asiamoney Best of Best Domestic Banks - India
Dun & Bradstreet – Manappuram Finance Best Corporate in Banking Sector
Limited Corporate Award 2014
J.P. Morgan Quality Recognition Award Best in class straight through processing rates
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