Business
Archived — This article has been archived. The information may be outdated.
HDFC Bank CEO pay rises to Rs 15.13 crore
Moneycontrol··12 Jul
HDFC Bank CEO Sashidhar Jagdishan earned Rs 15.13 crore in FY26, up 19 percent from the previous year, according to the annual report released this week. His basic salary stayed at Rs 3.09 crore while his performance bonus rose to Rs 7.28 crore. He received 4.28 lakh employee stock options, more than double the prior year's grant.
Prism
What It Means For You
- If you hold HDFC Bank shares or accounts, the annual report shows leadership pay rising through bonuses and stock options ahead of July 18 quarterly results.
- Bank employees and investors often compare executive compensation with return on equity and post-merger integration metrics when the full-year numbers are published.
- RBI rules cap deferred variable pay for senior bankers, meaning part of reported FY26 bonuses reflects earlier performance years paid in 2026.
What's Happening
- Jagdishan's total FY26 pay reached Rs 15.13 crore with an unchanged Rs 3.09 crore base and a Rs 7.28 crore performance bonus.
- Bharucha drew Rs 17.14 crore, driven by an Rs 8.59 crore bonus and 6.23 lakh stock options, the largest grant among whole-time directors.
- Former chairman Atanu Chakraborty also received payouts disclosed in the same annual report, though current focus is on operating executives.
The Numbers Behind It
- HDFC Bank completed its merger with HDFC Ltd in 2023, making it India's largest private lender by assets and a benchmark for sector executive pay.
- RBI guidelines require at least 50 percent of variable pay for senior executives to be deferred and linked to long-term performance and risk outcomes.
- The bank's July 18 results will be the first major earnings update since these remuneration disclosures for FY ended March 2026.
all-news
