ICICI Bank is awarded the best Private Bank in the country for SME Financing at the Dun & Bradstreet – Banking Awards 2009, which seek to recognize the growth and resilience of the Indian banking industry. ICICI Bank is also awarded the Best private bank for the Global Business Development category.
The ‘Dun & Bradstreet – Banking Awards’ conducts a study of all the top banks in India and that pool is considered as the base universe for the awards. It comprises of 74 scheduled commercial banks (SCBs) in India, consisting of 27 Public Sector Banks (PSBs), 22 Private Sector Banks and 28 Foreign Banks. D&B India has developed a proprietary financial model based on various parameters 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 identified crucial financial aspects to fulfill this premise and assigned weights to them. The final ranking of the banks was based on a composite score of these weighted parameters. The parameters are based on asset quality, rural reach and financial inclusion among others. The information has been collated from RBI documents and annual reports of the banks.
On receiving the award, Mr. Vijay Chandok, Senior General Manager & Head SME Business said, “Over the years, ICICI Bank has been closely associated with the SME customers and has been regularly introducing relevant banking services for their specific needs. We see this award as recognition of our efforts in the SME space. We would like to take this opportunity to thank our, close to one million SME customers who have placed their trust and support in banking with us.”
About ICICI Bank:
ICICI Bank Ltd (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of about US$ 100 billion as of December 31, 2008. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.