SBI’s business per employee lower than industry average

According to RBI report for the year 2008-09 the productivity of the State Bank of India’s employee stood at Rs5.56 crore which is below the estimated industry average of Rs7.50 crore for the year.

While the country’s largest lender’s wages as percentage of total expenses accounted to 16.64% as against the industry average of 13.52% for 2008-09.

As per the RBI report 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.

While 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.

In comparison to public sector banks, country’s private sector banks have done fairly well 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.

Also the foreign banks’ employee productivity has been higher in comparison to 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.

ICICI Bank’s profit per employee has been higher at Rs 11 lakh, among the private lenders while the HDFC Bank average has stood below at Rs 4.18 lakh.