Puri highest paid banker in FY20
HDFC Bank Managing Director Aditya Puri has emerged the highest paid banker among the top lenders for financial year 2019-20, with a 38 per cent jump in salary and prerequisites to ~18.92 crore. Puri, who built the bank into the largest by assets in the private sector and also the most valued one by investors over the last 25 years, earned an additional ~161.56 crore by exercising stock options during the year, the bank’s annual report said.
The banker, who is set to retire in October on attaining the age of 70, had earned
~42.20 crore by exercising stock options in 2018-19. Its group head and “change agent” Sashidhar Jagdishan, who is reported to be among the selected candidates to succeed Puri, earned a salary of ~2.91 crore in FY20, as per the annual report.
Second largest private sector lender ICICI Bank’s
Managing Director and
Chief Executive Sandeep
Bakhshi’s gross earnings stood at ~6.31 crore in his first full year as the head of the lender, the bank’s annual report said.
Bakhshi, who took over in October 2018, had earned ~4.90 crore in FY19 as a part-year’s payment, as per the lender’s annual report. Axis Bank’s managing director and chief executive Amitabh Chaudhry was paid ~6.01 crore for FY20 as against ~1.27 crore for the last three months of FY19, as per its annual reports.
The third largest private sector lender’s head of retail, Pralay Mondal, who resigned recently citing unspecified compulsions, earned a remuneration of ~1.83 crore in FY20. The former HDFC Bank and YES Bank executive is headed to join south-based CSB Bank.