An analysis of the annual reports of top banks in the country has thrown light into the paychecks of top bank CEOs in the private sector in India during financial year 2018-19. The list is led by HDFC Bank managing director Aditya Puri who has led the bank for 25 years since its inception.
Here's the list of the top paid private bank CEOs in India and how much they earn, as compiled by Economic Times:
1. Aditya Puri
With a monthly basic salary of Rs 89 lakh, the HDFC Bank managing director remained the highest paid bank chief executive in India
2. Amitabh Chaudhry
Axis Bank CEO Amitabh Chaudhry trails Puri at a distant second with a basic monthly salary of Rs 30 lakh. Chaudhry took over the position in January. The bank ranks third in terms of assets among private sector banks.
3. Uday Kotak
The executive vice chairman and managing director of Kotak Mahindra Bank was at number three with a monthly basic salary of Rs 27 lakh.
4. Chanda Kochhar
Despite her unceremonious descent as the MD and chief executive officer of ICICI Bank, Kochhar was at four in the list compiled from annual report data, having got Rs 26 lakh per month until her departure last year.
5. Sandeep Bakhshi
Bakhshi, who succeeded Kochhar in October last year, earned an average Rs 22 lakh per month.
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6. Romesh Sobti
IndusInd Bank’s Romesh Sobti was ranked at sixth with an average Rs 16 lakh per month basic pay.
In calculating pay, the report noted that it did not take into account perks and other privileges because these are treated differently by various banks. The monthly numbers have been arrived at after dividing the annual amount given in the report by the number of months they have served the respective banks.
It is to be noted that Yes Bank CEO Ravneet Gill and former CEO Rana Kapoor’s basic salaries have not been included in the list because the bank gives a consolidated number including perquisites, contributions towards provident fund and medical reimbursement under the head of salary. Gill’s salary has been listed at Rs 59 lakh for March. Kapoor’s gross salary was Rs 6.48 crore for the 10 months ended January.