India's highest paid bank chiefs -- HDFC Bank's Aditya Puri tops the list

IANS

  • HDFC Bank’s Aditya Puri and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry.
  • HDFC is one of the only two banks ranking in the list of the most valued Indian brands at $4.8 billion, according to Forbes Magazine.
  • Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks.
HDFC Bank’s Aditya Puri and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry.

Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks.

The rankings are based on the monthly remuneration of the employees, as per the company’s annual report released this year.

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1. Aditya Puri

1. Aditya Puri

Company: HDFC Bank

Monthly Compensation: ₹89 Lakh

Annual increase/decrease: 20%

Aditya Puri, who is the Managing Director and Chief Executive Officer (CEO) has been associated with the bank for the last 25 years. He joined HDFC Bank in September 1994. Before that, Puri was working with Citibank.

HDFC is one of the only two banks ranking in the list of the most valued Indian brands at $4.8 billion, according to Forbes Magazine. The bank registered a net profit of ₹ 21,078 crore in the financial year 2018-19 — roughly a 20% increase from the previous year.

Photo: BCCL

2. Amitabh Chaudhry

2. Amitabh Chaudhry

Company: Axis Bank

Monthly Compensation: ₹30 Lakh

Annual increase/decrease: NIL

Amitabh Chaudhry took over as the MD and CEO of the bank from January this year. Before him, Shikha Sharma was the CEO of the bank until December 2018.

Axis Bank, which is the third largest private sector bank earned a net profit of ₹ 4,677 crores for the 2019 fiscal.

Photo: BCCL

3. Uday Kotak

3. Uday Kotak

Company: Kotak Mahindra Bank

Monthly Compensation: ₹27 Lakh

Annual increase/decrease: 10.99%

Uday Kotak has been the Executive Vice Chairman and MD of the bank since its inception in 2003, when the Reserve Bank of India (RBI) issued the licence to the bank. The 60-year old banking veteran is an influential figure not just in the banking industry, but also in the capital markets and in policy making.

He was also appointed as the Chairman of the now bankrupt infrastructure lending giant IL&FS and the company went under threatening to shake up the entire economy.

The bank registered a net profit of ₹7,204 crores, according to its annual report published for the year 2018-19.

Photo: BCCL

4. Chanda Kochhar

4. Chanda Kochhar

Company: ICICI Bank

Monthly Compensation: ₹ 26 Lakh

Annual increase/decrease: NIL

The former CEO and MD of ICICI Bank, Chanda Kochhar left her position in October 2018. This was after she was accused of financial mishaps and corruption. Sandeep Bakshi then took over the position in the bank.

The largest private sector bank, ICICI Bank posted a consolidated net profit of ₹2,513 crore for the June 2019 quarter.

Photo: BCCL

5. Shikha Sharma

5. Shikha Sharma

Company: Axis Bank

Monthly Compensation: ₹24 Lakh

Annual increase/decrease: NIL

Shikha Sharma, who was appointed as the CEO and MD of Axis Bank in the year 2009, taking over from Dr. P.J. Nayak. She retired from the services in December 2018. After her exit, the bank’s stock gained over 48% in 2018.

Axis Bank, which is the third largest private sector bank earned a net profit of ₹ 4,677 crores for the 2019 fiscal.

Photo: BCCL

6. Sandeep Bakhshi

6. Sandeep Bakhshi

Company: ICICI Bank

Monthly Compensation: ₹22 Lakh

Annual increase/decrease: NIL

Sandeep Bakshi took over as the MD and CEO of ICICI Bank in October 2018 after Chanda Kochhar’s exit following the allegations of corruption.

The largest private sector bank, ICICI Bank posted a consolidated net profit of ₹2,513 crore for the June 2019 quarter.

Photo: TOI Online

7. Romesh Sobti

7. Romesh Sobti

Company: IndusInd Bank

Monthly Compensation: ₹16 Lakh

Annual increase in remuneraion: 7%

Romesh Sobti, who has been the MD and CEO of the Indian bank IndusInd Bank since February 2008 won the ‘Banker of the Year’ award in 2018.

The bank registered a net profit of ₹3,301 Crore during the financial year 2018-19, according to its annual report.

Photo: BCCL

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