HDFC Bank adjudged Market Leader in SME Banking and Diversity & Inclusion in India by Euromoney magazine
Kashmir News Trust #KNT
HDFC Bank has been adjudged Market Leader in SME Banking as well as Diversity & Inclusion in India, by the prestigious Euromoney magazine, in its inaugural “Market Leaders” rankings.
Euromoney Market Leaders is a new accreditation introduced this year, to independently assess leading financial service providers, in 124 countries globally. The assessment for ‘Market Leaders’ recognition comprises a financial institution’s achievements and capabilities over a longer – term, beyond a 12-month period, unlike awards
As part of the assessment, Euromoney ranks financial institutions across eight categories:
Investment Banking; Corporate Banking; SME Banking; Islamic Finance; Environmental and Social Governance (ESG); Digital Solutions; Corporate and Social Responsibility (CSR); and Diversity & Inclusion. In each category, companies are ranked as per three ranking tiers: Market Leader (Tier-1), Highly Regarded (Tier-2), and Notable (Tier-3).
HDFC Bank has been adjudged Market Leader in two categories among financial institutions in India which are India – SME Banking (Market Leader) and India – Diversity & Inclusion (Market Leader).
“We are delighted to be ranked Market Leader in Diversity & Inclusion among financial institutions in the country,” says Mr Vinay Razdan, Chief Human Resource Officer, HDFC Bank.
“Over the last 7 years, the Bank’s advances to MSME have grown at 31% CAGR. This led to the bank’s market share in advances to MSMEs increasing to nearly 19 %,” says Rahul Shyam Shukla, Group Head – Commercial and Rural Banking, HDFC Bank. “The Bank attributes this to its proactive approach in supporting MSME enterprises’ banking needs such as credit facilities, transaction banking, cross-border finance or transactions, investments, retail assets, and treasury products.