Aditya Puri highest paid banker for FY20 with Rs 18.92 cr in remuneration

The banker, who is set to retire in this October on turning 70, had earned Rs 42.20 crore by exercising stock options in 2018-19

HDFC Bank Managing Director Aditya Puri has emerged as the highest paid banker among the top lenders for FY 2019-20, with a 38 per cent jump in salary and perquisites to Rs 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 past 25 years, earned an additional Rs 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 this year on attaining the age of 70, had earned Rs 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 shortlisted candidates to succeed Puri, earned a salary of Rs 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 Rs 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 Rs 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 Rs 6.01 crore for FY20 as against Rs 1.27 crore for the last three months of FY19, as per its annual reports.