Private sector lending major, HDFC Bank has been given the stature of the strongest bank of the entire Asia Pacific region by Asian Banker magazine.
The bank has bagged this award thereby leaving behind more than 50 banks across 13 countries, said the bank.
The magazine reports the top 10 banks in its list to contain 3 from India and China, 2 from Hong Kong and 1 each from Singapore and Australia.
The parameters for evaluation included scales like balance sheet growth of net loans and deposits, risk management of the banks' operations, profitability and its sustainability, strength and credibility of loans disbursed and liquidity of assets to meet negative events requiring cash outflow.
"In our industry, to be recognised as a strong bank is always an honour.
To emerge as the strongest bank amongst a peer group of all banks in the Asia Pacific region, including some of the largest banks in the world, makes the recognition particularly special," said HDFC Bank MD, Mr Aditya Puri.