The bank has received this award after outperforming more than 50 banks across 13 countries, in the Asia Pacific region. In the list of top 10 banks, three positions were occupied by the banks in India and China each followed by two from Hong Kong, and one each from Singapore and Australia.
The evaluation of the banks were based on six parameters comprising of assets, balance sheet growth of net loans and deposits, risk management of the banks' operations, profitability and its sustainability, strength and credibility of loans disbursed and liquidity of assets to cushion in case of negative events requiring cash outflow.
Commenting on the occasion, HDFC Bank Managing Director Aditya Puri said, "In our industry, to be recognised as a strong bank is always an honour". He also added that recognition is special as the bank has outperformed all banks in the Asia Pacific region, which also includes some of the largest banks in the world.