HDFC Bank wins Best Asian Bank 2015 award

HDFC Bank wins Best Asian Bank 2015 award

SRINAGAR: HDFC Bank is the newly crowned winner of this year’s Best Asian Bank award, a standout among the 15 winners of 2015 FinanceAsia’s Country Awards programme for generating high growth and steady profitability as well as maintaining a low nonperforming loans ratio and high asset quality.
In a release issued here, the bank said its Chief Executive, Hong Kong, Sukarm Bali, accepted the award in front of roughly 150 peers attending the awards dinner held at the Ritz Carlton Hotel in Hong Kong earlier this week.
HDFC Bank is one of India’s largest financial institutions. It is also India’s most profitable and well-run private bank, with $85.6 billion in assets including $53 billion in loans for the fiscal year ending in March.
HDFC has a reputation for stringent lending standards. Net nonperforming loans were only 0.27% of assets for fiscal 2014, in stark contrast to most Indian peers, which are grappling with bad loans.
The Mumbai-based bank boasts an impressive multiyear history of steady earnings gains, partially thanks to low-cost deposits.
Return on assets meanwhile are 2%, as high as they have been over the past decade and a half, and the bank has been delivering steady net profit growth of at least 20% in the past eight quarters even when economic expansion was sluggish because of a pick-up in retail credit growth.
Mumbai to Main Street
HDFC Bank’s small-town expansion plans should yield more high-quality auto and small-business loans. The bank has invested in infrastructure over the past three years, doubling the number of ATMs it operates, and boosting branch locations.

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