Global magazine FinanceAsia has recognized private lender HDFC Bank to be the Best Bank in India. The bank was acknowledged to lead Indian banks for "maintaining an impressive growth trajectory and strong asset quality" at the magazine's Country Awards for Achievement 2019.
In a similar accolade, HDFC Bank featured in the BrandZ Top 100 Most Valuable Global Brands to be the highest-rated Indian brand.
On the bank, the magazine stated, "HDFC (Bank)'s proven ability to balance growth with adequate controls is one of the main reasons why investors continue to rate the bank in the face of an aggressive expansion strategy. For the bank is using its highly regarded digital platform as a springboard to accelerate customer acquisition and production penetration".
Also it added, "(HDFC Bank) is set to open more than double the 300 branches it rolled out during the 2019 financial year. Over the next few years, it also plans to expand its virtual relationship managers from 5.7 million to 20 million."
The magazine also highlighted that HDFC Bank has recently launched a 5 pillar programme to strengthen and double bank-level productivity, increase its presence in rural and sub-urban areas and accelerate digitization along with augmenting its payment leadership.