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HDFC Bank wins 'India's best bank award' for 2004
Our Banking Bureau
21 December 2004

Mumbai: HDFC Bank has won the Business Today 'best bank award' for 2004, on being judged the most efficient player in the industry. To win this award, a bank must not only be an aggressive seeker of growth, but also keep its costs low and profits high. The Business Today best bank awards 2004, in association with Antiquity, were presented at a ceremony at Mumbai's Taj Land's End Hotel today.

Prize winners in other categories were:

  • India's Biggest Bank: State Bank of India. The main parameters are the size of deposits and average working funds.
  • India's Most Productive Bank: Citibank NA. The bank that generates the most income and business per employee and branch.
  • India's Safest Bank: HSBC. The two broad parameters are capital adequacy ratio and loan loss cover.

The winners were put through a rigorous KPMG methodology to make the final cut.

The evening also saw the release of Business Today's special issue on India's best banks, by union minister for commerce and industry, Kamal Nath — who also gave away the awards — and India Today group editor-in-chief Aroon Purie. India's top bankers and heads of India Inc were present to felicitate the country's best banks.

send this article to a friend Business Today editor Sanjoy Narayan said: "We hope the survey — which covered 86 banks this year — will spur more competition among banks".

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HDFC Bank wins 'India's best bank award' for 2004