India's HDFC Bank has been announced as the ‘Best Local Bank' in India in Euromoney's Annual Private Banking Survey.

Also the bank has bagged the title of Best Bank in the category of ‘Relationship Management' and 2nd in the category of Private Banking Services.

As per Euromoney, HDFC's nomination as the best local bank in India points out the bank's excellent quality in portfolio management as well as in extending advice on a vast range of asset classes and investment options.

HDFC Bank's Group Head Equities, Private Banking, Third Party Products, NRI & International Consumer Business, Abhay Aima said, "This award assumes even greater significance for us for two reasons, it is a peer validation and the backdrop of economic volatility, thus highlighting the need for Private Banking in these turbulent times. Developing the right strategies and catalysing growth opportunities is the only way forward in these market conditions."

Euromoney is a renowned annual survey of the wealth management industry. It provides a qualitative and quantitative review of the best services in private banking by region and by areas of service. The survey includes peer and competitor perceptions with the highest ranked firms recognized as the top service providers in their respective niches.

More than 60 countries every year are covered in this survey and are one of the most prestigious awards in the industry.