HDFC Bank, Managing director Aditya Puri remained on the top of the highest-paid bank chief executive officers list in India with a monthly basic salary of Rs 89 lakhs in the Financial Year 2019.
Aditya Puri has been leading the bank for the last 25 years.
Axis Bank, CEO, Amitabh Chaudhry, was ranked second at a basic monthly salary of Rs 30 lakhs. He took over the position in January this year. Among the private sector banks, Axis Bank ranks on number three in terms of assets.
Kotak Mahindra Bank, Managing Director, Uday Kotak has been ranked at number three with a monthly basic salary of Rs 27 lakhs. ICICI Bank’s former MD Chanda Kochhar was at four in the list compiled from annual report data, having got Rs 26 lakhs per month until her departure.
Following a probe ordered by the board, Kochhar had moved out. Her successor Sandeep Bakhshi who became the CEO in October, having taken over as chief operating officer (COO) in June, has been ranked at number five with an average of Rs 22 lakhs per month.
IndusInd Bank’s Romesh Sobti, with a monthly basic salary of Rs 16 lakhs has been ranked on sixth position.
As per the annual reports of top private banks, salaries of CEOs are structured with a fixed pay component, a variable pay component and stock options. CEO-level pay also depends on creating shareholder value and improving key performance parameters.