HDFC bank [Get Quote] has won the Asian Banker's Best Retail Bank in India 2008 award for the second year in a row beating a host of other competitors in Asia Pacific, Gulf Cooperation council and Central Asia on a range of parameters.

The parameters included perception among peers and in the marketplace, annual financial performance, sustainability and transparency in strategy, ethicality, sales capability, risk management, processes, technology and efficiency, penetration and efficiency of distribution channels, and people's skills, according to an Asian Banker press release in Chennai on Tuesday.

HDFC Bank scored particularly high on risk management, sales capability and people skills.

"HDFC Bank leads all competitors in the South Asian retail financial services industry on a range of measures-particularly in Annual Financial Performance and Sustainability of business," the magazine said in its September 2008 special edition.

The Survey also recognised HDFC Bank for it's, as the magazine put it, "strengthened direct sales capabilities and improved cross selling, which resulted in a spike in second product penetration amongst liability customers."

The Asian Bankers Excellence in Retail financial Services awards are Asia's most prestigious banking industry awards programme and are held in high regard by the financial services sector.

The awards were based on a detailed evaluation of banks on a wide-ranging performance assessment conducted by a distinguished panel of international banking experts.

According to the Asian Banker,the annual Awards recognise the banks that have been simplifying their processes and launching innovative products.