ICICI Bank has overtaken HDFC Bank as the biggest employer among private sector banks in India. The bank has added over 10,000 jobs in 2013-14 and its headcount today stands at 72,000. HDFC Bank’s headcount had declined by 900 during the year. Employee strength had gone up in four other major private sector banks – Axis Bank, Kotak Mahindra Bank, IndusInd Bank and YES Bank – during 2013-14. HDFC Bank’s headcount stood at 68,165 at the end of last fiscal. In 2012-13, HDFC Bank was the largest employer among private banks with 69,065 employees, as against ICICI Bank’s 62,065 staff. ICICI Bank has also recorded higher total income and profits than HDFC Bank in the latest fiscal year. HDFC Bank posted total income Rs 50,852 crore and net profit Rs 8,743 crore. On stand-alone basis, HDFC Bank’s net profit for the year stood at Rs 8,478 crore, while total income was Rs 49,055 crore. In comparison, ICICI Bank’s consolidated total income was Rs 79,563 crore and net profit at Rs 11,041 crore. It recorded total income of Rs 54,606 crore and net profit of Rs 9,810 crore on stand-alone basis. The staff expenses have also increased for these banks, owing to increased staff strength. At the same time, the productivity ratios – measured in terms of profit per employee and business per employee have also improved for most of these banks.
