Lifetime Achievement Award 2020: Aditya Puri, HDFC Bank
The curtain is about to fall on one of the great Indian banking careers, so it is an appropriate moment to recognize the work of Aditya Puri at HDFC.
Aditya Puri’s success since building HDFC Bank in 1994 can be measured, in part, by the quality of its absences: the absence of scandal, the absence of any credit bust and the absence of drama. Indian banking generally is not short of any of these things, lurching between dismal creditor catastrophes amid cycles of bailouts and occasional fraud-related arrests, but HDFC Bank has done nothing but grow.
And that’s the remarkable achievement: HDFC Bank under Puri has mastered the exceptionally difficult double act of having prudent risk management and routinely achieving 20% annual profit growth, as it did in the 2019/2020 financial year (24.6%