PICKING THE WINNERS

The methodology used for the Business Today-KPMG Best Banks and NBFCs Survey 2022-23

THE BANKING AND financial services industry (BFSI) was in robust health in 2022-23. This is the backdrop in which the Business Today-KPMG jury met to pick the winners in the banking and non-banking financial companies (NBFCs) categories for 2022-23. It covered quantitative metrics as well as qualitative inputs to assess the performance.

The exercise took about six months, with KPMG, the knowledge partner, ensuring robust evaluations. This year’s survey marked a significant addition of large NBFCs. KPMG reached out to more than 50 banks, 100 NBFCs, and fintech companies.

A high-powered jury, led by Anand Sinha, former Deputy Governor of the Reserve Bank of India; and comprising NSE MD & CEO Ashishkumar Chauhan; Pallav Mohapatra, MD & CEO of asset reconstruction company ARCIL; Rajiv Kaul, Executive Vice Chairman & CEO of business services company CMS Info Systems; Ranu Vohra, Co-founder & Executive Vice Chairman of financial services firm Avendus; and N.S. Kannan, former ED of ICICI Bank.

Discussions for the Bank of the Year award proved challenging, with HDFC Bank and ICICI Bank emerging as front-runners. After carefully considering the strengths and challenges both lenders faced, the jury voted for a joint award. But elsewhere, the decision was unanimous. This was in bestowing the Lifetime Achievement Award upon Uday Kotak, Founder and Director of Kotak Mahindra Bank. In all, the jury decided 11 winners in 10 award categories. There are also six winners based on a quantitative study.

QUANTITATIVE AWARDS