RETAIL BANKING | Tony Chua, India

SBI employees lag in bringing in business

$1.41mln average business brought by each employee below industry average despite above average salary expenses.

The largest lender of the country, State Bank of India has an employee count of over 2 lakhs (200,000) but this huge workforce seems to be ineffective in bringing business. The RBI data on profile of banks 2009-10 has ranked the bank staff at the bottom of the pyramid in this regard.

As compared to the industry average of Rs 8.73 crore ($1.94 million), the average business brought by each employee of SBI was Rs 6.36 crore ($1.41 million).

The wages of the employees however counted for 18.86% of the total expenses of the bank as against the industry average of 14.83% last fiscal.

State Bank of Bikaner and Jaipur is the only associate bank of SBI whose business per employee is below the banking major.

Punjab National Bank's business generated by each employee was Rs 8.07 crore ($1.79 million), while Canara Bank's individual staff contribution to the business was Rs 9.82 crore ($2.18 million).

View the full story in The Rupee Times


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