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:
- India – SME Banking (Market Leader)
- 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. “We have been making focused efforts to increase the proportion of women in middle
management at the bank and have achieved some success. The Bank has more than 134,400
employees, of whom over 21% are women. In the past year the Bank has initiated a number of
different programmes to further increase the percentage of women to 25% by the year 2025.
This includes accelerated career programmes to identify and coach high-potential female
employees.”
“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 Mr 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,
treasury products etc, in addition to the day to day banking requirements. Consequently, HDFC
Bank’s MSME loan book continues to grow at a rate higher than the industry growth rate and yet
it has one of the lowest NPA ratio in the industry. Further, the Bank has expanded its MSME
footprint to 600 districts across the country from 540, in a span of 18 months, by opening new
branches as well as enabling MSME lending / services from more branches. To support the
needs of MSME enterprises, the Bank is aggressively participating in Govt of India schemes
such as ECLGS, CGTMSE, LGCAS, and AIF, among others.”
