Private sector bank chiefs take home hefty compensation cheques in FY25

Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make

The heads of private sector banks earned hefty compensation in FY25, with HDFC Bank’s managing director and chief executive officer (MD and CEO) Sashidhar Jagdishan and Kotak Mahindra Bank’s MD and CEO Ashok Vaswani emerging as the top earners.

 

In FY25, Jagdishan of HDFC Bank, India’s largest private sector lender, earned ₹12.06 crore, up 12 per cent from last financial year. He has also been allotted 212,052 shares in Employee Stock Options (ESOPs) by the bank in FY25, the bank’s annual report for the fiscal year showed. Jagdishan drew a remuneration of ₹10.77 crore in FY24. He was the highest