The HDFC bank has bagged the annual Country Awards for Achievement from India conferred by Hong Kong-based publication Finance Asia.
During 2004, HDFC Bank's stock price doubled and is currently trading at well over five times book value compared to a regional average just below two times, HDFC quoted Finance Asia saying in a release in Mumbai on Thursday.
Finance Asia covers the best financial services firm around the region.
HDFC Bank has been able to maintain a growth trajectory and risk profile that sets it apart from all of its peers and has consequently been rewarded with a valuation that stands at a premium to the entire regional banking sectors, Finance Asia said.