It was a tough year, one that most banks would not like to recall; a time when the had economy slipped into a slowdown, quality assets were scarce and more loans were turning toxic. But, amidst the gloom of 2012-13, a few banks showed they could rise to the task and come through with flying colours.
And it’s to these eight banks that The Financial Express will raise a toast on Friday. Giving away the FE Best Banks awards, at a glittering ceremony in the country’s financial capital will be Jayant Sinha, Union Minister of State for Finance. Also present on the occasion will be Mahashtra chief minister Devendra Fadnavis.
The FE Best Banks awards are the most coveted in the banking space with banks vying with one another to own one. For 2012-13, HDFC Bank walked away with the prize in the new private sector banks category while Bank of Baroda (BoB) was at the top of the heap in the public sector banks category.
HDFC Bank also picked up a couple of awards for profitability and efficiency. As always, Aditya Puri, managing director, accepted the announcement with his usual equanimity. “We’re more optimistic now than ever before about the future,” Puri remarked.
Ranjan Dhawan, executive director, BoB, told FE his bank was highly honoured to be recipient of the Financial Express award.
Read also: Bankers that India can bank on
Ravneet Gill, chief executive, Deutsche Bank, adjudged the winner among foreign banks, said he was delighted to win an award from a publication as highly admired as The Financial Express. “The award is a recognition of Deutsche Bank’s sustained & unwavering focus on clients, product innovation & principled growth,” Gill said.
Rana Kapoor, MD & CEO, Yes Bank, runner-up among new private sector banks, endorses the prestige the survey carries with it. “Yesbankers are pleased to win this coveted recognition from The Financial Express which reinforces Yes Bank’s growing stature as a leading Indian private sector bank,” Kapoor observed.
H S Upendra Kamath, MD & CEO, Tamilnad Mercantile Bank also expressed his delight. “We are happy to receive this award from a prestigious institution like Financial Express this year as well, Kamath said.
K Venkataraman, MD & CEO, Karur Vysya Bank says it’s been a great honour to receive this award for the fourth year in a row. “In the tougher environment, getting continuous recognisation gives satisfaction to all of us the in bank,” Venkataraman said.
The Financial Express has always taken care to ensure the survey is a fair one, based Since numbers play a big part in the methodology, consultancy firm EY makes sure the weightages assigned to various parameters are relevant. Given the criteria are tough, only the very best make the cut. Among others who rose to the challenge, this time around, are HSBC, which won for strength and soundness, BNP Paribas, which was ranked number one for credit quality, Bank of Maharashtra , which picked up an award for growth.