HDFC Bank – a leader in housing development finance – has won the Merit Award (Banking Sector) at the National Business Excellence Awards 2021. This prestigious event was organized by the National Chamber of Commerce of Sri Lanka. It is held annually to recognize companies that have demonstrated excellence according to various criteria.
The judging criteria for the awards were excellence in the following areas: strategy and leadership, corporate governance and strategy, capacity building, performance management, local and global market reach, corporate social responsibility and environmental sustainability, and business and financial results.
HDFC Bank President, Mrs. Wasanthi Manchanayake thanked the staff, customers and other stakeholders for helping them win this award. She said the bank will continue to receive such accolades because of its vibrant corporate culture. She added that a positive attitude permeates all levels of the organization, which has effective processes covering everything from administration to IT and customer service.
HDFC Bank Managing Director/CEO Palitha Gamage said their success was due to a visionary strategy, strong leadership based on their state-private partnership and a dynamic workforce. He noted that these factors enabled the bank to achieve an impressive financial performance in 2021 despite the COVID-19 pandemic and stiff competition from big banks.
The main business of HDFC Bank is to provide home loans to low and middle income people in Sri Lanka. Apart from housing finance, the bank is involved in leasing, deposits, business loans, education loans and pledging. It caters to a range of people with different financial needs, including professionals, public sector employees, retirees and SME entrepreneurs.
Currently, HDFC Bank offers a diverse range of loan and savings products. These are delivered through its extensive network of branches nationwide.
The bank has benefited greatly from its public-private ownership structure. The government holds the majority stake of 51% while private companies and individuals hold a 49% share. This composition offers the strength, stability and security of the state combined with the innovation and efficiency of the private sector.
It has also facilitated technological progress. The bank offers digital banking solutions such as online payment and online banking. The central banking system introduced a few years ago has facilitated the introduction of various products. This system supported the bank’s growth strategy, improving its efficiency and ability to provide more convenience to customers.
Among the most popular services provided by HDFC Bank is pocket banking. It is currently used by thousands of customers. Many small business owners and freelancers have taken advantage of the ease, convenience, and security it offers.
In line with its mandate, the bank will continue to focus on providing housing related financial support to middle and low income Sri Lankans. This will facilitate social progress and promote economic development throughout the country.