IT was a year that most banks would like to forget; the economy slipped into a slowdown, quality assets were scarce and more loans turned toxic. But, in all the gloom of 2012-13, eight banks showed they were made of sterner stuff, that they could take on the challenges and come out winners. These lenders were the winners of the FE Best Banks awards — the most coveted awards in the banking space.
“There are many awards but few awards stand tall and FE Best Banks is surely one,” says SS Mundra, CMD, Bank of Baroda, which was ranked number one among public sector banks.
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 consistent growth over the last 34 years in India and acknowledgment of our client-centricty, product innovation, commitment to values & social engagement,” Gill said.
Rana Kapoor, MD & CEO, Yes Bank, runner-up among new private sector banks, endorses the prestige the survey carries with it.
“Being recognised by The Financial Express as one of the best private sector banks in the country is a true recognition of Yes Bank’s emphasis on quality excellence, safety and governance coupled with sustainable growth and a fine management team,” Kapoor observed.
The Financial Express has, over the years, honoured best performers, taking care to ensure the survey is a fair one.
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 Karur Vysya Bank, which used IT to forge ahead and Tamilnad Mercantile Bank, which has grown by broadening its focus. FE Best Banks also appreciates that not every bank can be best at everything and rewards attributes that are important.
FE Best Banks has all along stayed abreast of the changes in the Indian banking sector. This edition captures the efforts of banks at financial inclusion and discusses how the Indian banking landscape should unfold in the context of the Nachiket Mor committee report.