Winners: FinanceAsia Awards 2022-2023 South Asia

Read on for the winners of the 27th iteration of the FinanceAsia awards, across Bangladesh, India, Pakistan and Sri Lanka.

Still reeling from the effects of last year’s supply chain woes, energy disruptions and geopolitical tensions, financial markets are now also contending with the impact of consecutive interest rate hikes and uncertainty following recent banking turmoil.

While 2023 may not deliver the capital markets rebound we were all hoping for, it is worth pausing to recognise leading financial institutions that have forged through and made waves in these volatile times.

Marked progress and innovation across deals continues to demonstrate regeneration and resilience. After all, the goal posts have not changed: each of Asia's markets is bound by net zero commitments; and digital transformation continues to drive regulatory discourse and development around emerging sectors and virtual assets. As a result, sustainability and digitisation continue to be underlying themes shaping a new paradigm for deal-making in the region. 

The FinanceAsia team invited banks, brokers and ratings agencies to showcase their capabilities to support their clients as they navigated these uncertain economic times. Our awards process celebrates those institutions that showed determination to deliver desirable outcomes, through display of commercial and technical acumen.

This year marks the 27th iteration of our FinanceAsia awards and celebrates activity that has taken place within the past year (2022).

To reflect new trends, this year we introduced an award for Biggest ESG Impact (encompassing all three elements of ESG strategy) and updated our D&I award to include equity: Most Progressive DEI Strategy.

Read on for details of the winners and finalists (entrants whose submissions were highly commended by our jury) for South Asia. Full write-ups explaining the rationale behind winner selection will be published in the summer edition of the FinanceAsia magazine, with subsequent syndication online.

Congratulations to all of our winners!


Best Investment Bank: UCB Investment Ltd
Best Sustainable Bank: Infrastructure Development Company Ltd
Most Innovative Use of Technology: Green Delta Securities

Best Bank: Standard Chartered
Best ESG Impact: Standard Chartered
Most Progressive DEI: Standard Chartered

Best Broker: Nuvama Institutional Equities
Best DCM House: Trust Investment Advisors
Best ECM House: ICICI Securities Ltd
Best Investment Bank: ICICI Securities Ltd
Most Innovative Use of Technology: ICICI Securities

Best Investment Bank: Citi
Best Sustainable Bank: MUFG
Most Progressive DEI: Citi

Best Bank: Allied Bank Ltd
Best Broker: Topline Securities
Best Investment Bank: Habib Bank Limited

Best Bank: Commercial Bank of Ceylon Plc
Best Investment Bank: NDB Investment Bank Ltd
Best Broker: Asia Securities (Pvt) Ltd.

Best Bank: HSBC


For other winners:

Click here to see the winners across North Asia.

Click here to see the winners across Southeast Asia.

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