RBL Bank (also known as Ratnakar Bank), one of India’s fastest growing scheduled commercial banks has been recognized by the World Economic Forum as a “Global Growth Company” (GGC) 2014.
RBL Bank received this year’s honour for being an innovative, dynamic, high-growth company with a robust business model and a strong executive leadership team.
Companies in the GGC community are among the most influential and successful within their industries. As of Jan 2014, over 370 companies from over 60 countries have been admitted to the GGC community. Typically, Global Growth Companies exceed their industry standards in revenue growth and innovative business practices, and have a track record of leadership and – above all – exemplary corporate global citizenship.
Commenting on this recognition, Mr. Vishwavir Ahuja - MD & CEO, RBL Bank, said “We feel honoured to receive this recognition from the World Economic Forum. The GCC award is a reflection of RBL Bank’s growing stature as an emerging Indian company with one of the fastest growth rates in the Financial Services Industry. It is also testimony of our commitment towards building a banking franchise based on a robust platform of high quality capital, professional governance, relationships, technology infrastructure and geographic expansion to create value for all our stakeholders.”
“When choosing entrants to our Community of Global Growth Companies, we assess companies on their business model, annual revenues and growth rates, executive leadership and market position” said David Aikman, Managing Director, Head of New Champions, World Economic Forum. “RBL Bank is a dynamic group with clear potential to shape the future in its relevant business sectors and so is a perfect fit to our GGC community.”
About Global Growth Companies:
The World Economic Forum’s Community of Global Growth Companies (GGC) was formed in 2007 to engage dynamic high-growth companies with the potential to be tomorrow’s industry leaders and to become a driving force of economic and social change. Members of the Community of Global Growth Companies convene every year at the Chinese-hosted Annual Meeting of the New Champions and at the World Economic Forum’s regional meetings, and collaborate through the private area of the World Economic Forum's website, an exclusive online networking platform for business and government leaders. For more information, please visit: http://www3.weforum.org/docs/WEF_GGC_Brochure.pdf
About the World Economic Forum:
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and headquartered in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. For more information, please visit: www.weforum.org
About RBL Bank (Ratnakar Bank):
RBL Bank is one of India’s fastest growing scheduled commercial banks with an expanding presence across the country. It has currently grown to a network of over 180 branches / 350 ATMs across 13 Indian States and Union Territories and has been rated as "India’s Best Bank (Growth)" in the mid-sized bank segment by Business Today-KPMG study in 2012 & 2013.
Established in 1943, RBL Bank undertook a transformational journey under a new management team in 2010. It embarked on an aggressive growth plan based on a robust platform of professional governance, relationships, technology infrastructure, high quality capital and geographic expansion. Today, RBL Bank offers specialized services under the five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets. The Bank currently services more than 700,000 customers and has a total business size of over Rs. 20,000 Cr. Over the last three years, it has infused capital of over Rs. 1,500 Crores from some of the most notable global and domestic names, taking the TIER 1 capital to Rs. 2,000 Crores (approx). For more information, please visit www.rblbank.com
Photo caption: Vishwavir Ahuja MD & CEO RBL Bank receives WEF Global Growth Company Award 2014