Mumbai: State Bank of India’s employee productivity stood at Rs5.56 crore for 2008-09, below the industry average of Rs7.50 crore for the year, a RBI report said.
However, the country’s largest lender’s wages as percentage of total expenses stood at 16.64% against the industry average of 13.52% for 2008-09.
According to the RBI data on profile of banks, business per employee (total business of the bank divided by the number of employees) of IDBI Bank stood at Rs20.30 crore and that of Punjab National Bank at Rs6.54 crore.
The business per employee of Canara Bank stood at Rs7.80 crore, Bank of Baroda at Rs9.14 crore, Bank of India at Rs8.33 crore and Union Bank at Rs6.94 crore for 2008-09.
The country’s private lenders have fared well in the category, with the business per employee of ICICI Bank and Axis Bank being at Rs11.54 crore and Rs10.60 crore, respectively for the last fiscal.
Even the foreign banks’ employee productivity is higher than the industry average, with Citibank, HSBC, Standard Chartered Bank and Barclays business per employee at Rs18.80 crore, Rs9.61 crore, Rs9.71 crore and Rs11.10 crore, respectively.
Among private lenders, ICICI Bank’s profit per employee stood at Rs 11 lakh, while that of HDFC Bank was below average at Rs 4.18 lakh.