HDFC wins prestigious awards

HDFC the only housing bank in Sri Lanka won the National Business Excellence Awards 2012, Merit Award and the Bronze Award for financial Institutions at the Chartered Accountants Annual Report Awards 2012 at two ceremonies held recently at the Hilton Hotel and Waters Edge Hotel in Colombo.

The grand finale of the 48th prestigious Annual Report Awards ceremony organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) promotes transparency and accountability in financial reporting in the corporate sector, and recognized companies which had demonstrated excellence in transparency, accountability and good governance via their annual reports. Meanwhile the National Business Excellence Awards for 2012 presented by National Chamber of Commerce of Sri Lanka (NCCSL) has by now become a unique national awards scheme as it evaluates the overall performance of a company and selects the cream of business in the country for awards.

Following the directions given by the Chairman and the Board of Directors, HDFC Bank strategized its operation so as to maximize economic and social benefits.

The Bank’s strategies and initiatives have underpinned substantially for the growth of urban low income housing sector.

Mortgage facilities were strategically distributed among the wider low and middle income groups. This task was in consideration of their proportionate representation in the population whilst paying great effort in balancing regional and economic sector wise distribution. In 2011, HDFC Bank granted 64% of loans facilities to low and middle income groups who are hardly accessible to formal housing finance.