HDFC Bank Stands Tall As One Of The Fastest Growing Bank In The World

There are tons of banks the world over which includes emerging ones that are also doing quite well. The bank is one of the establishments that moves an economy in diverse ways, consequently they to some degree has a stake in each economy. A large portion of these banks have contributed a great deal to every economy especially to the residents.

In as much as there are banks that are not doing 100% well, and as such struggling, there are others which are also at the peak in terms of growth. As at now, you can’t discuss the fastest growing banks on the planet without the notice of India’s HDFC Bank. According to a report in December 2019 by brand consultancy–Brand Finance, the bank has emerged as the fastest growing Indian brand, recording 296 percent growth in the course of five years.

There are various public-sector banks in India which incorporates: Anchor Bank, Bank of Baroda, Vijaya Bank, Dena Bank, Bank of India, Bank of Maharashtra and numerous others that are additionally doing their bit to help the economy. However, other private banks are also in the ‘picture’ doing unbelievably well as far as the expansion of the financial sector is concerned. All things considered, HDFC Bank’s brand value in the course of recent five years has expanded right around 300 percent while it has recorded a compound yearly growth pace of 31.7 percent over a similar period. Its valuation, which remained at $1,223 in 2014, has now expanded to $4,844, according to the report.

HDFC Bank was placed in the 34th position in the world’s best 100 fastest growing brands by value. Banks like Shanghai Pudong Development Bank, China CITIC Bank, China Merchants Bank, all made the list. HDFC Bank has in the course of the most recent couple of years, zeroed in on its digital offering, bringing about a flood of customers from the thriving more youthful age.

The bank’s services are also excellent

The list is dominated by Chinese and American firms with 39 organizations from every country in the top 100. In blend, the 78 firms from the world’s top two economies represent 88 percent of the complete brand value.

HDFC Bank is one of India’s driving private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994. The bank has a banking network of 5,326 branches and 14,996 ATMs spread across 2,825 cities and towns. The bank’s core businesses are: Retail Banking where they offer diverse range of financial products and banking services to customers through a growing branch and ATM network and digital channels such as Netbanking, Phonebanking and MobileBanking.

They also deal in Wholesale Banking by offering a wide gamut of commercial and transactional banking services to businesses and organizations of all sizes. Other services include working capital finance, trade services, transactional services and cash management.

With respect to treasury, HDFC help businesses generate better returns on their funds and manage financial risk. Here, they focus on three main product areas: foreign exchange and derivatives, local currency money market and debt securities, and equities.

The bank has won numerous awards in various areas which includes:

Asia’s Outstanding Companies Poll

Outstanding Company among banks in India – HDFC Bank

Euromoney Awards for Excellence 2019

India’s Best Bank

Governance Now BFSI Awards 2019.

Digital Bank

And some more.

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