HDFC Bank rated 'best domestic bank'

HDFC Bank has bagged the 'Best Overall Domestic Bank – India' award in the corporate cash management poll conducted by Hong Kong-based Asiamoney magazine.

"HDFC Bank today is a market leader in providing cash management services. The bank has leveraged upon its superior technology and wide geography (165 cities) to win significantly large market share," HDFC Bank corporate banking head Samir Bhatia said in a statement.

The poll, which was conducted across 12 Asia-Pacific countries, covered 7,000 companies including listed and unlisted companies, multinationals and SMEs.

Over 270 corporates and 15 financial institutions participated in the poll from India.

HDFC Bank has to its credit major global recognitions like the 'Best Under a Billion, 200 Best Small Companies for 2003' by Forbes Global, 'Best Local Bank - India' by Hong Kong-based Finance Asia in 2003 and 'Best Domestic Bank in India - 2003' by Hong Kong-based The Asset Magazine.

In India, the bank was adjudged as the 'Best IT User in Banking' by Nasscom and economictimes.com, 'Best Bank in India - 2003' by Business Today.