ICICI Bank Leads the Way in Reducing Employee Attrition Among Private Lenders

ICICI Bank has achieved the lowest attrition rate among major private sector banks over the last three financial years. The drop from 24.5% in FY24 to 18% in FY25 highlights improved staff retention, influenced by competitive wages and work environment. Similar trends are observed in other banks too.

ICICI Bank has emerged with the lowest employee attrition rate among leading private sector banks over the past three fiscal years, reflecting a notably stickier workforce. The bank attributes this achievement to competitive remuneration packages and an enhanced work environment.

According to the latest figures from ICICI's Business Responsibility and Sustainability Reporting, the attrition rate at India's second-largest private sector bank decreased to 18% in FY25, down from 24.5% the previous year. This decline is consistent with a broader trend observed across the industry as banks report reduced year-on-year attrition rates.

Similar decreases have been recorded by other major players, such as HDFC Bank and Axis Bank, highlighting a stabilizing job market post-pandemic. Experts suggest that a subdued entry-level job market in the BFSI and fintech sectors, combined with growth in digital services, has contributed to more stable employment in the banking sector.

(With inputs from agencies.)