Wage Bill Of New Private Banks Rises The Most

The wage bill of new private sector banks have shown the maximum increase in fiscal 2001 followed by the State Bank group.

The rise in wage bill of the new private sector banks could be attributed to their aggressive expansion strategy coupled with recruitment undertaken by them.

The wage bill of new private sector banks has risen by 52.33 per cent to Rs 248.85 crore followed by the State Bank Group (31.39 per cent rise to Rs 7786.39 crore) and nationalised banks (25.55 per cent rise to Rs 13,142.78 crore).

The wage bill of the old private sector banks has risen by a marginal 1.97 per cent, while that of foreign banks had increased by 14.19 per cent.

The total wage bills of the scheduled commercial banks have shown a sharp rise of 25.8 per cent to Rs 23,206 crore in fiscal 2001.

There has been a rise in percentage of wage bill as part of total expenditure for all scheduled commercial banks.

The wage bill as percentage of total expenditure of old private sector banks have fallen from 21.11 per cent (Rs 1037.49 crore) in 1999-00 compared with 13.23 per cent (Rs 1017.48 crore) in 2000-01.

In case of foreign banks the percentage of wage bill has fallen to 8.97 per cent from 9.26 per cent.

In case of public sector banks, the lowest business per employee has been logged by UCO Bank at Rs 97 lakh while the highest has been logged by Oriental Bank of Commerce at Rs 2.63 crore.

Dena Bank has not logged any profit per employee while the highest profit per employee has been logged by State Bank of Indore at Rs 2.6 lakh.

Among the private sector banks the highest business per employee has been logged by IndusInd Bank at Rs 15.82 crore, while it is lowest in the case of Sangli Bank.

In case of profit per employee the highest figure has been logged by ICICI Bank at Rs 10.45 crore, while the lowest is of SBI Commercial and International bank at (-) Rs 36.20 lakh.

In case of foreign banks the highest business per employee has been logged by Dresdner Bank at Rs 29.68 crore while it is lowest in the case of Sonali Bank at Rs 66.83 lakh.

In case of profit per employee the highest figure has been logged by The Toronto Dominion Bank at Rs 37.57 lakh while it is lowest for Dresdner Bank which was at Rs 4.13 crore.