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State Bank of India and HDFC Bank Limited win top honours at the Dun & Bradstreet – Polaris Financial Technology Banking Awards 2013
Dun & Bradstreet releases study on India’s Top Banks 2013
Mumbai,  22 Aug 2013    


Award Winner

State Bank of India

Best Public Sector Bank

HDFC Bank Limited

Best Private Sector

Citibank N.A.

Best Foreign Bank

Dena Bank

Best Growing Public Sector Bank

Kotak Mahindra Bank

Best Growing Private Sector Bank

Indian Overseas Bank

Priority Sector Lending – Public Sector

IndusInd Bank

Priority Sector Lending – Private Sector

Bank of Maharashtra

Asset Quality – Public Sector

ING Vysya Bank

Asset Quality – Private Sector

Deutsche Bank

Asset Quality – Foreign Bank

Bank of Baroda

Global Business Development – Public Sector

ICICI Bank Limited

Global Business Development – Private Sector

State Bank of India

Rural Reach – Public Sector

Jammu & Kashmir Bank

Rural Reach – Private Sector

State Bank of India

Retail Banking - Public Sector


Retail Banking - Private Sector


Retail Banking - Foreign Bank

State Bank of India

Technology Adoption – Public Sector


Technology Adoption – Private Sector

Dun & Bradstreet (D&B), the world’s leading provider of global business information, knowledge and insight, announced and presented the ‘Dun & Bradstreet – Polaris Financial Technology Banking Awards 2013’ in Mumbai.  The occasion also marked the launch of the seventh edition of D&B India’s study on ‘India’s Top Banks 2013’.

Also present at the event were Mr. M Damodaran, Chairman – Excellence Enablers Private Ltd., Mr. R Gopalan, Former Secretary – Dept of Economic Affairs, Ministry of Finance, Government of India, Mr. Arun Jain, Chairman & CEO, Polaris Financial Technology and Mr. S R Iyer, Independent Director on the Board, Writer Corporation among other leading names from the Banking sector.

Speaking at the awards, Mr. Kaushal Sampat, President & CEO – India, Dun & Bradstreet said, “There is no running away from the fact that we are battling the toughest domestic economic environment seen in the last 2 years. The uncertain economic situation has posed many challenges to the banking industry. As revealed in our publication, India’s Top Banks 2013, in terms of Total Income, the growth rate of the featured SCBs (scheduled commercial banks) almost halved to 16% in FY 13 compared to the 30% in FY 12. This was on account of interest income registering only 16% growth in FY 13 as compared to 33% growth in FY 12. A similar trend was observed in the Net Interest Margin, which declined from 2.9% in FY 12 to 2.7% in FY 13.”

“However, it is encouraging for all of us to remember that the Indian banking sector has been tested on several occasions in the past as well, but has always come through. This is reflected in our findings based on the primary study in which nearly 33% of SCBs are expecting credit growth in the range of 10 – 15% in FY 14. 50% of SCBs also expressed confidence in bringing down their net NPA levels to less than 1% by end of FY 14.”, he added.

About the Dun & Bradstreet – Banking Awards 2013

The ‘Dun & Bradstreet - Polaris Financial Technology Banking Awards 2013’ seeks to recognize the growth and resilience of the Indian banking industry. The Awards event is closely tied to the publication, India’s Top Banks 2012. Therefore, the base universe of the banks considered for the ‘Dun & Bradstreet - Polaris Financial Technology Banking Awards 2013’ is the top banks in India as covered under the publication.

D&B India has developed a proprietary quantitative model for identifying the top banks across spectrums. The model is based on the premise of recognizing the size and growth of the banks while awarding them. The analyst team identifies crucial financial aspects to fulfill this premise and assigns weights to them. For each award, a different set of parameters pertinent to the respective awards is used. Award winners will be chosen based on a composite score of these weighted parameters. The information has been collated from RBI documents and annual reports of the banks.

About the Dun & Bradstreet’s India’s Top Banks 2013
Dun & Bradstreet India through its publication ‘India’s Top Banks 2013’ captures the development of banking sector in India in FY12 and profiles the top 67 scheduled commercial banks with a total income of more than Rs 1,000 mn in FY12. These include private, public and foreign banks.

Mentioned below are some of the key findings from the publication:

  • During FY13, the total business of SCBs saw a slower growth of 15.4% compared with 16.2% in FY12, in line with decelerated growth of credit and nearly flat deposit growth. PSBs continued to account for more than 75% of the business in FY13. However, private banks outperformed their peers in terms of business growth at 18.5% YoY. 
  • FY13 saw lower credit demand across various sectors on the back of economic slowdown and global uncertainty. Thus, growth of bank lending contracted to 15.8% in FY13 from 17.9% in FY12.
  • The CASA ratio declined from 36.4% in FY12 to 36% in FY13, as term deposits were more attractive due to the continued high interest rate environment in FY13. The share of term deposits as a percentage of total deposits increased to 63.9% in FY13 from 63.6% in FY12.
  • Deteriorating asset quality of SCBs continued to be a major concern in FY13. The net NPA ratio increased from 1.1% in FY12 to 1.5% in FY13, which may be attributed to the fall in servicing abilities of borrowers, led by high interest rates.
  • Total income also registered a decelerated growth of 16% in FY13 against 29.8% in FY12. Gross interest income, which contributed to more than 85% of the total income in FY13, saw 16.4% growth in FY13 compared with 33.3% in FY12.
  • The net interest income (NII) saw slower 10.8% growth in FY13 compared with 16.9% growth in FY12, owing to faster growth in interest expense at 19.2%. Average cost of funds grew from 5.9% in FY12 to 6.2% in FY13. Return on funds declined from 9.53% in FY12 to 9.48% in FY13.
  • NIM of SCBs declined marginally from 2.9% in FY12 to 2.8% in FY13. Tight liquidity conditions and lower share of low cost CASA deposits impacted NIM due to the consequent higher cost of funds and fall in return on funds along with lower credit demand. Spread, the difference between return and cost of funds, plunged from 3.6% in FY12 to 3.3% in FY13.

About Dun & Bradstreet (D&B):
Dun & Bradstreet (NYSE:DNB), the world’s leading source of global business information, knowledge and insight, has been enabling companies to Decide with Confidence® for 171 years. D&B’s global commercial database contains more than 225 million business records. The database is enhanced by D&B’s proprietary DUNSRight® Quality Process, which transforms the enormous amount of data collected daily into decision-ready insight. Through the D&B Worldwide Network – an unrivaled alliance of D&B and leading business information providers around the world – customers gain access to the world’s largest and highest quality global commercial business information database.

Customers use D&B Risk Management Solutions to mitigate risk, increase cash flow and drive increased profitability, D&B Sales & Marketing Solutions to analyse markets, locate prospects and increase revenue from new and existing customers; D&B Learning Solutions to facilitate professional growth and excellence among their executives and D&B Economic Analysis Group to derive pragmatic and solution-oriented analyses of strategic economic and business developments, thereby aiding informed decision making.

D&B featured on FORTUNE Magazine's Most Admired Companies Industry List for four consecutive years (2006 -2009), ranking first in the Financial Data Services category. D&B ranked first in the areas of employee talent, financial soundness, long-term investment, quality of management and use of corporate assets. In 2011, D&B featured on the World’s Most Ethical Companies list in the Business Services category by Ethisphere.  The World’s Most Ethical Companies designation recognizes companies that truly go beyond making statements about doing business “ethically” and translate those words into action.

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