Latest news with #BRSR
Time of India
11-08-2025
- Business
- Time of India
ICICI Bank reports lowest attrition rate among private peers in last 3 fiscal years
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. New Delhi, ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working the last three financial years, the industry has also witnessed a sustained decline on a year-on-year employee attrition rate at the country's second-largest private sector bank declined to 18 per cent in FY25 from 24.5 per cent in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) 2022-23, the bank reported an attrition rate of 30.9 per cent, lower than its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6 per cent in FY25, compared to 26.9 per cent in FY24. The attrition was 34.2 per cent during the attrition was 25.5 per cent for Axis Bank, down from 28.8 per cent in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3 per cent from 39.6 per cent in the previous year, according to their annual and BRSR IndusInd Bank, the attrition rate was 29 per cent in FY25, lower than 37 per cent witnessed during 2023-24 and 51 per cent in the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently."Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
Mint
10-08-2025
- Business
- Mint
ICICI Bank attrition: Private lender marks its lowest headcount drop in last three years. Here's why
ICICI Bank attrition: India's second-largest private sector bank, ICICI Bank, has reported the lowest employee attrition rate among other large private sector banks in India over the last three financial years, reported the news agency PTI on Sunday, 10 August 2025. The lower attrition rate reflects employees' preference due to competitive remuneration and better working conditions. ICICI Bank's employee attrition rate dropped to 18% in the financial year 2024-25, compared year-on-year (YoY) with 24.5% in the previous financial year, cited the news agency from the bank's Business Responsibility and Sustainability reporting (BRSR) report. According to the agency report, over the last three financial years, India's banking sector witnessed a sustained decline on a year-on-year basis. In the 2022-23 fiscal year, ICICI Bank's attrition rate was at 30.9%, lower than its competitors. Competitors of ICICI Bank, like the largest private sector bank in India, HDFC Bank, recorded an employee attrition rate of 22.6% during the 2024-25, compared to its level of 26.9% in the previous financial year. Other private sector banks, such as Axis Bank, Kotak Mahindra Bank, and IndusInd Bank, also recorded a drop in their attrition rates for the 2024-25 fiscal year. Axis Bank witnessed an employee attrition rate of 25.5% in the financial year 2024-25, a drop from its previous level of 28.8% in the previous financial year, the news agency cited the bank's BRSR report. Kotak Mahindra Bank's attrition rate also dropped to 33.3% in the 2024-25 fiscal year, compared to 39.6% in the previous financial year. IndusInd Bank's employee attrition rate also dropped to 29%, compared to 37% in the financial year 2023-24, reported the news agency. Over the last three years, the attrition rate among the private banks has seen a downward movement between the financial year 2022-23 and the 2024-25 fiscal year. The drop in the employee attrition rate among private banks can be attributed to factors like 'subdued entry-level' job market in the BFSI and fintech sector and the rise in digital services, reported the news agency, citing a senior HR executive of the ICICI Bank aware of the development. "Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," the executive told the news agency, highlighting that most private sector banks witnessed high attrition rates due to the high level of recruiting after the Covid-19 pandemic of 2020. Mint reported earlier that ICICI Bank's net profit rose 15.5% to ₹ 12,768 crore in the April-June quarter of the 2025-26 fiscal year, compared to ₹ 11,059 crore in the same quarter a year ago, according to company filings. The private sector bank's interest income rose 10.1% to ₹ 42,946.9 crore in the first quarter of the financial year ended 2025-26, from ₹ 38,995.7 crore in the same period a year ago.
&w=3840&q=100)
Business Standard
10-08-2025
- Business
- Business Standard
ICICI Bank posts lowest attrition rate among major pvt lenders in 3 years
ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment. During the last three financial years, the industry has also witnessed a sustained decline on a year-on-year basis. The employee attrition rate at the country's second-largest private sector bank declined to 18 per cent in FY25 from 24.5 per cent in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) report. During 2022-23, the bank reported an attrition rate of 30.9 per cent, lower than its competitors. Its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6 per cent in FY25, compared to 26.9 per cent in FY24. The attrition was 34.2 per cent during 2022-23. Similarly, the attrition was 25.5 per cent for Axis Bank, down from 28.8 per cent in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3 per cent from 39.6 per cent in the previous year, according to their annual and BRSR reports. For IndusInd Bank, the attrition rate was 29 per cent in FY25, lower than 37 per cent witnessed during 2023-24 and 51 per cent in FY23. Over the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition rates. The slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting anonymity. Most private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently. "Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
The Hindu
10-08-2025
- Business
- The Hindu
ICICI Bank reports lowest attrition rate among private peers in last 3 fiscal years
ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment. During the last three financial years, the industry has also witnessed a sustained decline on a year-on-year basis. The employee attrition rate at the country's second-largest private sector bank declined to 18% in FY25 from 24.5% in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) report. During 2022-23, the bank reported an attrition rate of 30.9%, lower than its competitors. Its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6% in FY25, compared to 26.9% in FY24. The attrition was 34.2% during 2022-23. Similarly, the attrition was 25.5% for Axis Bank, down from 28.8% in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3% from 39.6% in the previous year, according to their annual and BRSR reports. For IndusInd Bank, the attrition rate was 29% in FY25, lower than 37% witnessed during 2023-24 and 51% in FY23. Over the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition rates. The slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting anonymity. Most private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently. "Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
Economic Times
05-08-2025
- Business
- Economic Times
Sustainable capital rising: How ESG bonds are shaping India's debt market
India's ESG bond market is gaining traction, driven by supportive regulations and rising investor interest in sustainable assets. Corporates, particularly in renewable energy and infrastructure, are increasingly utilizing ESG bonds for funding. While still nascent compared to global markets, the Indian ESG bond market is poised for significant growth, transforming fixed income investing. Tired of too many ads? Remove Ads A market on the move Tired of too many ads? Remove Ads Still early days in fixed income A structural shift is underway Tired of too many ads? Remove Ads Future drivers of ESG bond issuance Infrastructure & Urban Development: Projects like metro rail, highways, smart cities, and clean water are natural fits for sustainability-linked financing. Renewable Energy & Clean Tech: Solar, wind, hydro, and EV mobility companies directly support India's net-zero goals and are key issuers of green bonds. Social Infrastructure: Affordable housing, hospitals, sanitation, and education projects provide clear social impact, making them ideal for social bonds. BFSI Sector: Banks and NBFCs with ESG frameworks can issue their own bonds or serve as conduits for channeling capital into green and social initiatives. Large Listed Corporates: The top 1,000 listed firms already complying with SEBI's BRSR norms are better positioned to meet ESG disclosure demands and raise funds via sustainability bonds. Looking ahead India's Environmental, Social, and Governance (ESG) bond market is steadily coming of age. Once seen as a niche segment, ESG and green bonds are now drawing increased interest from global investors, corporate issuers, and regulators evolving landscape is being shaped by supportive policies, a growing commitment to sustainability , and rising demand for impact-linked to Vineet Agrawal, Co-Founder of Jiraaf, the momentum behind ESG bonds in India is unmistakable. "Rising global investor interest in sustainable assets, coupled with a progressive domestic regulatory environment, is helping this space grow," he pushes like SEBI 's Business Responsibility and Sustainability Reporting (BRSR) Core framework and the RBI's green finance guidelines are nudging Indian corporates to integrate ESG factors into their capital-raising such as renewable energy, clean mobility, and infrastructure finance are already leading the way. A case in point: Larsen & Toubro (L&T) issued its first Rs 500 crore ESG bond recently—a significant move that signals the entry of India's biggest conglomerates into sustainability-linked financing."As ESG considerations become mainstream, more Indian corporates are expected to follow suit," adds global markets have embraced ESG investing—especially in fixed income—India is still finding its feet, says Gautam Kaul, Senior Fund Manager – Fixed Income at Bandhan AMC. "In India, we are at an early stage of the ESG investing platform. The equity side is getting more traction, but fixed income is still nascent."However, the signals are encouraging. Private corporations and the Government of India have started issuing ESG and green bonds. The government's Sovereign Green Bonds (SGrBs) alone have raised close to Rs 57,697 crore through Kaul notes that domestic demand is limited, with foreign institutional investors currently dominating the buyer side of the also touches on the pricing of ESG instruments. 'Is the market paying a significant premium for ESG bonds ? Selectively, yes,' he says. 'The greenium—or the yield differential—between green and regular government bonds is around 5 basis points. It's modest now, but could widen as the market matures.'The trajectory of India's green bond market has been upward since 2017, following SEBI's introduction of formal green bond guidelines. This laid the groundwork for greater participation and accountability, says Nikhil Aggarwal, Founder and Group CEO of points out that globally, the green bond market not only scaled new highs in 2024 but also outperformed conventional bonds by nearly 2%.In India, the pace picked up further with the government's foray into green bond issuance. Institutional investors—mutual funds, banks, and insurers—are increasingly aligning their portfolios with ESG objectives, spurred by both regulation and a broader shift toward sustainable investing "SEBI's strict disclosure and verification requirements add credibility, offering investors confidence that their money is driving genuine environmental and social impact," says highlights several sectors that are particularly well-suited to tap into the growing ESG bond market:India's ESG bond market may still be in its formative years, but the foundation is strong. Regulatory frameworks are maturing, investor interest—especially from abroad—is rising, and corporate issuers are beginning to see ESG bonds as a viable and strategic funding climate commitments becoming non-negotiable and global capital increasingly prioritising sustainability, India's ESG bond market is poised not just to grow—but to transform the broader landscape of fixed income investing.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
