Excelsior Correspondent
JAMMU, June 19: HDFC Bank has been declared the ‘Best Domestic Bank’ in India for the year 2012 by the magazine Asiamoney.
This was based on the findings of an in-depth annual survey of banks and broking houses, the magazine conducted across 14 countries. The findings were announced in magazine’s June 2012 issue.
Asiamoney is one of the most influential financial magazines and a leading authority on finance, banking, investment and treasury in the Asia-Pacific.
According to the publication, despite a challenging fiscal year 2011-12, HDFC Bank has been among the strongest performers in India over the past year. It also mentioned the Bank’s improved financial performance and highlighted key parameters such as decline in gross non-performing assets as a proportion of advances to 1% and improved capital adequacy ratio to 16.5% at the end of March 2012.
Asiamoney Best Bank Awards 2012 covered 14 countries (Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Phillipines, Singapore, Taiwan, Thailand and Vietnam) and honoured their domestic companies across three major categories-best domestic bank, best domestic equity house and best domestic debt house.
Other prominent winners in the Best Domestic Bank category included Commonwealth Bank of Australia, Industrial and Commercial bank of China and HSBC Bank (Hong Kong) for their respective countries.
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