HDFC Bank CEO Sashidhar Jagdishan Emerges as Highest-Paid Banker in India for FY25 with ₹54 Crore Compensation.

HDFC Bank CEO Sashidhar Jagdishan earned over ₹12 crore in salary for FY25, a 12% increase from the previous year. He was also allotted 212,052 shares in ESOPs, valued at more than ₹42.4 crore. Other top-paid bankers include Amitabh Chaudhry of Axis Bank, Ashok Vaswani of Kotak Mahindra Bank, and V Vaidyanathan of IDFC First Bank. Their salaries and ESOPs reflect modest increases, reflecting RBI's scrutiny of CEO remuneration.

HDFC Bank's CEO, Sashidhar Jagdishan, saw his total remuneration soar to Rs 12.08 crore in FY2024-25, marking an 11.8% increase from the previous year. His compensation package included a basic salary of Rs 3.09 crore, allowances and perquisites of Rs 3.46 crore, and a performance bonus of Rs 4.67 crore [1]. Additionally, he received Rs 37.08 lakh for provident fund and Rs 46.36 lakh for superannuation. Under the bank's long-term incentive plan, Jagdishan was granted 2.12 lakh employee stock options valued at over Rs 42.4 crore.

The significant increase in Jagdishan's remuneration reflects HDFC Bank's strong performance post-merger with erstwhile HDFC Ltd. The bank's annual report highlights a 10.7% increase in net profit to Rs 67,347.4 crore, a 13% rise in net interest income, and a balance sheet expansion of over 8% to Rs 39,10,199 crore [2]. The bank's deposits grew 14.1% to Rs 27,14,715 crore, outpacing loan growth, and the credit-to-deposit ratio improved to 96% [2].

The bank's CEO also noted the successful integration of HDFC Ltd's mortgage portfolio, which has become the largest in the country. This has facilitated increased cross-selling opportunities across the group. Jagdishan emphasized the bank's internal transformation and strategic recalibration post-merger, positioning it as a strong financial services conglomerate [1].

Looking ahead, HDFC Bank aims to grow its advances on par with the industry in FY2026 and exceed it in FY2027. The bank continues to enhance its information security posture through various strategic and technology-driven initiatives [2].

Other top-paid bankers in the sector, such as Amitabh Chaudhry of Axis Bank, Ashok Vaswani of Kotak Mahindra Bank, and V Vaidyanathan of IDFC First Bank, also saw modest increases in their remuneration, reflecting the Reserve Bank of India's scrutiny of CEO remuneration [3].

References:
[1] https://bfsi.economictimes.indiatimes.com/articles/hdfc-bank-ceo-sashidhar-jagdishans-total-remuneration-soars-to-rs-1208-crore-amidst-strategic-transformation/122546735
[2] https://economictimes.indiatimes.com/industry/banking/finance/banking/confident-of-growing-our-advances-on-par-with-industry-in-fy26-hdfc-bank-ceo/articleshow/122441112.cms
[3] https://www.financialexpress.com/business/banking-finance/hdfc-bank-ceonbspsashidhar-jagdishan-get-nearly-12-pay-hike-in-fy-25-annual-package-rises-to-rs-12-08-crore/3915448/