NEWS & ADVICE : SAVINGS ACCOUNTS
Private Banks adding new branches, employees to their kitty
By Neelima Shankar
Oct 10, 2012
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According to the RBI data, Private Banks in 2011-2012 have laid huge emphasis on expansion, adding 1377 branches which is one-fifth of the total branches added by banks in India.

In FY11-12, around 5,664 branches were added by banks and 42,334 new employees were hired. The addition summed up to 83,229 branches all together and a count of 10.1 Lakh employees.

There is a growth of 3.1% in the share of private bank branches from 13% in 2007-08 to 16.1% in 2011-12. As on March, 2012, the share of public sector banks in total branch network was 83.5%.

On keeping an account of the no. of employees retired this year, the addition looks smaller in public sector banks. SBI on net basis (addition minus retirements) lost most number of employees, summing around 7,400 employees.

PSBs had a net addition of 19,400 employees where as the in new private banks around 18,800 employees were added.

ICICI Bank which added 200 new branches same as HDFC Bank and Axis Bank saw a huge reduction of 10,000 staff strength in the two years ended March, 2012. HDFC Bank added 10,300 and Axis Bank added around 5,400 employees.


 


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