Several big banks operate in India and have massive customer bases. But do you know which is the largest bank in India, and who leads it? It is HDFC Bank whose market cap is Rs 1283000 crore as of October 18. It is also the country's biggest private-sector lender which is headed by Sashidhar Jagdishan. He is the Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Bank. He has been leading the bank since October 27, 2020.
Not only this, Jagdishan emerged as the highest-paid bank CEO in FY23. Jagdishan earned over Rs 10.55 crore in overall pay, according to disclosures made in annual reports in 2023. Jagdishan's package included a basic salary of Rs 2.82 crore, allowances and perquisites of Rs 3.31 crore, provident fund of Rs 33.92 lakh and a performance bonus of Rs 3.63 crore.
Who is Sashidhar Jagdishan?
Born in Mumbai, Jagdishan has over 30 years of experience. He joined HDFC Bank in 1996 as a manager in the finance department. Before this, he worked at Deutsche Bank AG in Mumbai for three years. He holds a bachelor's degree in Science (Physics) from Mumbai University. Jagdishan is also a qualified Chartered Accountant (CA). He also holds a Master's degree in Economics of Money, Banking, and Finance from the University of Sheffield, UK.
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Meanwhile, HDFC Bank on Saturday posted a marginal 5 per cent increase in its standalone profit at Rs 16,821 crore in the second quarter ended September 2024. It had earned a net profit of Rs 15,976 crore in the same quarter a year ago. Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing.
