HDFC Bank workforce shrinks by 3,343 in FY26
New Delhi: The country's biggest private sector lender HDFC Bank has witnessed a cut in headcount by 3,343 even as the balance sheet of the
New Delhi: The country's biggest private sector lender HDFC Bank has witnessed a cut in headcount by 3,343 even as the balance sheet of the lender expanded by 12 per cent during FY26.As per the the latest annual report of the bank, the total employee strength has come down to 2,11,178 in FY26 from 2,14,521 in FY25.There has been a reduction of headcount by 3,343 people. During the year, employee attrition rate stood at 23.12 per cent.Headcount at the senior management level rose to 262 from 247 at the end of March 2025, while middle management size increased to 10,411 from 9,159 in the previous year.Read More: FM Nirmala Sitharaman calls for enhanced NRI outreach to sustain foreign currency mobilisation momentumThere was a reduction in non-supervisory staff from 1,70,950 at the end of FY25 to 1,62,797 at the end of FY26.The bank's total balance sheet size increased 11.6 per cent to Rs 43,64,886 crore from Rs 39,10,199 crore on March 31, 2025.Advances stood at Rs 29,37,166 crore, representing an increase of 12 per cent over March 31, 2025. Total deposits rose 14 per cent to Rs 31,05,251 crore from Rs 27,14,715 crore during the period."As we accelerate the transformation toward becoming a technology-led, customer-centric bank, employees need to keep pace... we are consciously redeploying talent from back-end functions, where we are able to bring technology-led efficiencies, to customer-facing roles," HDFC Bank MD and CEO Sashidhar Jagdishan said in the report released on Saturday.Jagdishan further said the abrupt resignation of part-time chairman Atanu Chakraborty was a challenging event and it led to questions about governance standards at the bank.Chakraborty resigned on March 18, more than a year before his term was to come to an end, citing ethical concerns.This is the first time a part-time chairman of HDFC Bank has left midway, raising concerns about its functioning.Read More: FCNR inflows may reduce banks' reliance on CD market in Q2 FY27: Report"Towards the end of the financial year 2025-26, the bank faced a challenging event with the resignation of Atanu Chakraborty, part-time chairman and independent director of the bank, on March 18, 2026," Jagdishan said in the annual report of the bank released on Saturday.The statement mentioned in Chakraborty's resignation letter led to questions about governance standards at the bank, he said.
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