Mumbai: State Bank of India's employee productivity stood at Rs 5.56 crore for 2008-09, below the industry average of Rs 7.50 crore for the year, a RBI report has said.
However, the country's largest lender's wages as percentage of total expenses stood at 16.64 per cent against the industry average of 13.52 per cent for 2008-09.
According to the RBI data on profile of banks, business per employee (total business of the bank divided by the number of employees) of IDBI Bank stood at Rs 20.30 crore and that of Punjab National Bank at Rs 6.54 crore.
The business per employee of Canara Bank stood at Rs 7.80 crore, Bank of Baroda at Rs 9.14 crore, Bank of India at Rs 8.33 crore and Union Bank at Rs 6.94 crore for 2008-09.
The country's private lenders have fared well in the category, with the business per employee of ICICI Bank and Axis Bank being at Rs 11.54 crore and Rs 10.60 crore, respectively for the last fiscal.
Even the foreign banks' employee productivity is higher than the industry average, with Citibank, HSBC, Standard Chartered Bank and Barclays business per employee at Rs 18.80 crore, Rs 9.61 crore, Rs 9.71 crore and Rs 11.10 crore, respectively.
