The award, instituted by 'The Asian Banker', a publication and research services company in the financial services sector, recognises Kamath as the top banker in the region, a release here stated.
The honour is the highest award available for achievement in the banking industry in the Asia Pacific and Gulf Region, it added.
The award ceremony, held in Hanoi, Vietnam, coincided with 'The Asian Banker Summit', an annual rendezvous of financial services professionals.
"The benchmark for excellence in leadership in Asia Pacific and the Gulf Region has become incredibly high, as the accomplishments of this year's Achievement Award winners demonstrate," The Asian Banker President Emmanuel Daniel said.
An international jury chaired by Dubai International Financial Centre Authority Board Chairman David Eldon selected the winners through a rigorous process.
The previous winners of the Asia Pacific award have been Jiang Jianqing, Chairman ICBC China, John McFarlane, CEO ANZ Australia and Guo Shuqing of China Construction Bank.