Soon to retire Managing Director of HDFC Bank emerged as the highest-paid banker among the top lenders for the financial year 2019-20, with a 38 percent jump in salary and perquisites to Rs 18.92 crore.
Puri, who has been credited with building HDFC Bank into the largest private sector bank by assets and also the most valued one by investors over the past 25 years, earned an additional Rs 161.56 crore by exercising stock options during the year, according to the bank’s annual report. He had earned Rs 42.20 crore by exercising stock options in 2018-19.
The banker will be retiring in October as he turns 70 years of age and is the longest-serving head of any private bank in India.
Second largest private sector lender ICICI Bank’s MD and CEO Sandeep Bakhshi’s gross earnings stood at Rs 6.31 crore in his first full year as the head of the lender, the bank’s annual report said.
Bakhshi, who took over in October 2018, had earned Rs 4.90 crore in FY19 as a part-year’s payment, as per the lender’s annual report.
Axis Bank’s managing director and chief executive Amitabh Chaudhry was paid Rs 6.01 crore for FY20 as against Rs 1.27 crore for the last three months of FY19, as per the bank’s annual reports.