Aditya Puri has been awarded best chief executive officer in India by AsiaMoney magazine.
Heading HDFC Bank as managing director, Puri is understood to be the first Indian banker to have received this award.
The award is of significance today as foreign institutional investors are flocking into the country and investing in a big way in India. Foreign stake in HDFC Bank has risen to 51 per cent.
With fund managers investing heavily in emerging markets like India, they have to take a bet on the management.
By bestowing Puri with the award, fund managers have found the management to have a clear vision in terms of strategy, corporate governance in line with international practice and total transparency in terms of running the bank.
The bank itself has been rated number two in India for the clearest corporate strategy, best financial management and best operational efficiency.
The Hong Kong-based AsiaMoney conducted its 13th annual poll of fund managers, chief investment officers and heads of research across 192 firms, insurance companies and brokerage houses in the Asia-Pacific region.
HDFC Bank has also been named as the overall most improved company for best management practices in India. It has also been recognised to have the best focus on shareholders value.
This has been reflected in the share price movement over the last month since HDFC Bank went for the $ 253.4 million American Depository Shares. The scrip went up by 9 per cent since January 3 to close on Thursday on the Bombay Stock Exchange (BSE) at Rs 572.4.
"Any award given through a poll of peers gives a good feeling since we are judged against the best," Puri told Business Standard.
Global fund managers have the whole world where they can make their investments.
By selecting India and more specifically HDFC Bank, this demonstrates their confidence in the entity, further reflected in the AsiaMoney Awards.
