How HDFC, Citi caught our eye in India

In May, FinanceAsia named the winners of its annual Country Awards for Achievement. Last month, winners were given ther awards at our annual awards dinner in Hong Kong. Today, we continue presenting the rationale for our decisions with a look at the Indian market.

Best Bank HDFC

HDFC Bank, India’s largest lender by market capitalisation, delivered a strong set of earnings in 2016, helped by a shift in the bank’s loan portfolio toward retail and personal businesses as other Indian bank assets and profits came under pressure.

Having seen India dodge the worst of the financial...