* India’s largest private lender HDFC Bank has overtaken State Bank of India (SBI) to earn top spot on the list of 2023 CRISIL’s Greenwich market share Leaders in Large Corporate Banking.
* For middle market corporates, HDFC Bank again topped the list of 2023 Leaders among local banks, and joined ICICI Bank as the year’s joint Greenwich Quality Leaders.
* Coalition Greenwich, a division of CRISIL, said many of the gains for large private sector and foreign banks came at the expense of the smaller banks, including some of India’s public sector banks.
* Even among the PSUs, the trend toward consolidation among the largest providers persisted, with SBI doing a better job than smaller banks at maintaining corporate relationships, it added.
* From 2021 to 2022, the share of Indian corporates working with one of the largest Indian private sector banks for overall corporate banking services increased to 38 per cent from 33 per cent.
* Over the same period, the share of corporates working with at least one large foreign bank climbed to 21 per cent from 18 per cent..
Source : Business Standard