HDFC Bank in Forbes Asia’s ‘Fab 50’ list for 9th time

SRINAGAR: The HDFC Bank Ltd has featured in Forbes Asia’s ‘Fab 50’ list of companies for the ninth consecutive time.
According to a release issued here Tuesday, the bank now earns the “unique distinction” of being the company with the highest number of mentions in the “prestigious list, which is an annual honour roll of Asia-Pacific’s 50 best big companies that are exchange-listed”.
This is tenth year since its inception in 2005, it said.
“The Fab 50’s brightest star over the decade, India’s HDFC Bank, did not debut until 2006. However, it has now made the list nine times, more than any other company,” the release quoted Forbes Asia as mentioning.
“HDFC is the second-largest bank in India’s private sector, after ICICI Bank. Built from scratch, the bank now has a market capitalisation of $43 billion, nearly 32.7 million customers and a network spanning more than 4,000 branches in almost 2,500 towns and cities,” the magazine read.
The magazine has added a cover story on HDFC Bank’s journey over the past 21 years under the leadership of its Managing Director Aditya Puri, the release said. It said the Indian companies accounted for 10 entries on the list, as compared to 12 last year. Some of the other Indian companies present are Tata Consultancy Services, Aurobindo Pharma, Tata Motors, Titan, and Lupin, it added.
According to the release, ‘Fab 50’ companies were selected from among 1,116 publicly-traded Asian companies with at least $3 billion in annual revenue or market capital, and five-year track records for revenue, operating earnings, return on capital, recent results, share-price movements and the growth outlook.
With 25 entries, China had the highest number of companies from a single country, it said.