ICICI Bank has demonstrated the best performance among major private banks with an employee attrition rate of 18% in FY2025. The bank's rate has steadily decreased over the past three years. HDFC, Axis, Kotak, and IndusInd Bank also recorded declines, but ICICI achieved the lowest level.
New Delhi: ICICI Bank, the country's second-largest private sector bank, has set a new benchmark by recording a decline in employee attrition rate for the third consecutive year. In FY2025, the bank's attrition rate fell to 18%, compared to 24.5% in 2024 and 30.9% in 2022-23. According to the bank's latest Business Responsibility and Sustainability Report (BRSR), this rate is the lowest among major private sector banks. On the other hand, HDFC, Axis, Kotak, and IndusInd Bank also showed a downward trend, but ICICI maintained the most stable employee base.
Trend Towards Stability in Private Sector Banks
Employee attrition rates in private sector banks have consistently decreased over the past three financial years. Increasing competition in the industry, better salary packages, career growth opportunities, and improvements in work culture have strengthened this trend. This change in the banking sector indicates long-term employee stability.
ICICI Bank's Performance
In FY2025, ICICI Bank's attrition rate was 18%, which is not only lower than the previous year but also significantly below the industry average. In 2022-23, it was 30.9%, and in 2023-24, it decreased to 24.5%. The bank's policies focusing on employee satisfaction, flexible work options, and skill development have played a significant role in this reduction.
Status of Other Major Banks
HDFC Bank
- FY23: 34.2%
- FY24: 26.9%
- FY25: 22.6%
Axis Bank
- FY23: 35%+
- FY24: 28.8%
- FY25: 25.5%
Kotak Mahindra Bank
- FY24: 39.6%
- FY25: 33.3%
IndusInd Bank
- FY23: 51%
- FY24: 37%
- FY25: 29%
Disclosure from Report Data
All these figures are recorded in the banks' annual reports and BRSR reports. It can be clearly seen that there has been a significant reduction in the attrition rate of all major private banks between FY23 and FY25. However, ICICI Bank has maintained the best employee base during this period.
Message for Employees
A low attrition rate means that employees stay with the bank for a longer period, which indicates trust in the institution's work culture, growth opportunities, and salary structure. This not only increases the bank's productivity but also benefits customers with a stable and experienced staff.
