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9 Aug 2025
ICICI Bank posts lowest attrition rate among major private banks for the past three years, dropping to 18% in FY25 from 24.5% in FY24 . ICICI Bank, India's second-largest private sector lender, has emerged as the best performer in employee retention among major private banks for the third consecutive year.
ICICI Bank has indeed achieved a notable milestone by posting the lowest attrition rate among major private banks in India for the past three years.
Attrition Rate: ICICI Bank's attrition rate dropped to 18% in FY25 from 24.5% in FY24, marking a significant decline.
Comparison with Peers: The bank outperformed its peers, including
HDFC Bank: 22.6% attrition rate in FY25, down from 26.9% in FY24.
Axis Bank: 25.5% attrition rate in FY25, down from 28.8% in FY24.
Kotak Mahindra Bank: 33.3% attrition rate in FY25, down from 39.6% in FY24.
IndusInd Bank: 29% attrition rate in FY25, down from 37% in FY24.
Reasons for Decline: The drop in attrition rates can be attributed to factors such as Competitive Remuneration: ICICI Bank's competitive pay packages and better working conditions have contributed to higher employee retention.
Stabilized Recruitment: Post-pandemic recruitment frenzy has stabilized, leading to reduced attrition rates.
Subdued Entry-Level Job Market: A slowdown in entry-level job market in BFSI and fintech sectors has also contributed to the decline in attrition rates.
Industry Trend: The private banking sector has witnessed a sustained decline in attrition rates over the past three years, indicating a positive trend in employee retention.