An Indian bank [Get Quote] has won the 'Emerging Markets Sustainable Bank of the Year Award 2008'  for Asia in the honours constituted by The Financial Times and the International Finance Corporation, a member of the World Bank Group.

YES bank [Get Quote] won the award given in recognition to 'excellence in creating environmental, social and financial value' in its operations in India.

"As a Public Trust Institution, the (YES) bank takes responsibility for augmenting sustainable development in India and has therefore adopted principles of sustainability, encapsulated within its business through its Responsible Banking strategy," the judges, at a gala dinner held in London Tuesday night with Mayor Boris Johnson as chief guest, said.

According to John Ridding, CEO, FT, entries reached record numbers this year, with 182 entries from 129 institutions in 54 countries -- including global banking groups as well as much smaller banks in emerging markets.

Another Asian bank to register its presence at the awards, now in their third year, was Bangladesh's ASA, a micro-finance institution, which won the newly constituted 'Bottom of the Pyramid' award.

'Bottom of the Pyramid' award recognises efforts to provide financial services to the 4 billion people living on less than $2 a day.

Banco Real, Brazil, was named overall winner in the Sustainable Bank of the Year award. The judges said Banco Real had pioneered sustainable banking in South America, putting social and environmental issues at the centre of all its business activities.

'Sustainable Investor of the Year' award went to E plus Co, which invests in small and medium sized enterprises providing clean energy technology in Africa, Asia and Latin America.