IDBI Bank Gets Best Public Sector Bank Award In \'SME Financing\'

IDBI Bank has received the Best Public Sector Bank award in ?SME Financing? from global business information provider Dun & Bradstreet (D&B). The award was presented to IDBI Bank at the ?Dun & Bradstreet - Polaris Software Banking Awards 2010? in Mumbai.The occasion also marked the launch of the fourth edition of D&B India?s study on India?s Top Banks 2010.

Speaking on the occasion, Mr. T. R. Bajalia, Executive Director & Head-SME Group at IDBI Bank, said, ?IDBI Bank has developed a special business model to serve the SMEs in the country that has enabled the Bank to develop a quality SME portfolio through a dedicated streamlined credit decision process. The Bank\'s focus is on service quality and consequently, utmost importance is being accorded to the building of an efficient SME sales network, effective client management mechanism besides borrower friendly, easy to understand and competitive products?.

The base universe of the banks considered for the awards were the top 64 scheduled commercial banks (SCBs) as covered in the publication. D&B India developed a proprietary quantitative model based on various parameters for identifying the top banks across the spectrum. The model is based on the twin premise of recognizing the size and growth of the banks.

For this purpose, D&B India identified a number of crucial parameters related to business, profitability, network, priority sector lending, asset quality, global business etc relevant to each award category. The final ranking of the banks was arrived at using a composite score of these weighted parameters. The information has been collated from RBI documents and annual reports of the banks.

Company :- IDBI Bank