Chennai: HDFC bank has been recognised as the ‘best bank in India’ by global magazine FinanceAsia for the fourth consecutive year.
The bank was adjudged as India’s top bank at the publication’s Country Awards for its conservative retail lending policies and security of deposits.
“It feels like a secure home for depositors aware of rising levels of fraud cases across the wider financial services sector. The bank’s conservative retail lending policies also means that financial analysts believe it will be able to navigate through the Covid-19 storm that put the country under a strict curfew,” said FinanceAsia.
It added: “As many financial analysts have noted, India’s most profitable private sector bank has become a safe port in very stormy seas for an Indian economy beset by slowing growth and a banking sector weighed down by bad loans.”