The Business Today-Money Today Financial Awards are given out every year to recognise and honour the best companies in the financial sector. India's Best banks
The Business Today-Money Today Financial Awards are given out every year to recognise and honour the best companies in the financial sector. Financial year 2015/16 was full of opportunities and challenges for investors, and the BT-MT awards covered the entire value chain - banks, mutual funds, insurance companies and pension funds. This year, we gave 13 awards in banking, six in mutual funds, six in insurance and three in pension categories. Here is a look at the winners and their achievements.
India's Best banks - Business Today, with an eminent jury from diverse backgrounds, selected banks that flourished despite the odds. We raise a toast to those that are the best in class
The 'Best Banks' study identifies institutions that have flourished despite the odds. The four-member jury panel selected the winners for the Bank of the Year (both public and private sectors), Banker of the Year, Digital Banking and Financial Inclusion. The eminent jury came from diverse backgrounds. M.D. Mallya, former chairman and Managing Director of Bank of Baroda, represented the banking side. Alok Agarwal, Chief Financial Official at Reliance Industries, brought in the voice of the industry, which works very closely with banks. Vimal Bhandari, Chief Executive Officer and Managing Director of Indostar Capital Finance, provided his insights as a financial services expert. Ramaswamy Venkatachalam, Managing Director (India and South Asia) at FIS, brought the inside view on scalability of technology innovations. The BT-KPMG study selected the winners based on quantitative analysis.
For the rankings based on pure financial performance, the data was taken from published annual reports of the banks for the period 2012/13 to 2015/16. The survey covers 59 scheduled commercial banks that had annual reports published in the public domain or provided their annual reports at the time of conducting the survey prior to October 31, 2016. Banks with a balance sheet size of less than Rs 5,000 crore as on March 31, 2016, were not considered. Scheduled commercial banks whose financial statements were not available to us or banks that did not complete four years of operations in India as on March 31, 2016, or have merged with other banks, did not form part of the survey.
The three broad ranking parameters are given below:
Growth - There are five sub-parameters in this category.
Size - There are three sub-parameters in this category, including size of total deposits, size of operating profit and size of balance sheet for 2015/16.
Strength - There are four overarching sub-parameters, each with the following sub-divisions:
(a) Quality of assets (b) Productivity and efficiency (c) Quality of earnings return on assets (d) Capital adequacy ratio