Employee productivity is the lowest at the State Bank of India (SBI), the largest lender in India, according to statistics laid out in a Reserve Bank of India (RBI) analysis on domestic and foreign banks.
The business brought in by each employee of SBI and its associates during 2009-10 stood at Rs.7.35 crore, much less than the average of all scheduled commercial banks at Rs.8.73 crore, according to the RBI’s “A Profile of Banks.”
SBI and its associates have a workforce of 267,332 employees. SBI alone has a headcount of over 200,000.
Also, the profit per employee of SBI and its subsidiaries was Rs.4.65 lakh during the last fiscal, compared to the average of all banks at Rs.6.05 lakh.
SBI employees alone brought in Rs.6.36 crore worth of business each during 2009-10, while the standalone profit per employee for this banking behemoth stood at Rs.4.46 lakh.
The only public sector bank, whose employees generated less business was the SBI associate – State Bank of Bikaner and Jaipur. The business generated by each employee of this bank was Rs 6.27 crore in 2009-10.
Among private banks, Yes Bank led the rankings with each of its worker bringing in 15.26 crore during the last fiscal.
The next was Axis Bank at Rs.11.11 crore followed by ICICI Bank at Rs.10.29 crore.
The avergae profit generated by each employee of a private bank stood at Rs.7.19 lakh.
The profitability per employee during the previous fiscal, was much higher for foreign banks at Rs.17.09 lakh and the business brought in by each employee of such institutions was at Rs.14.45 crore.