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. Also Read | ICICI Bank hikes minimum balance to ₹50,000 on savings accountICICI 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.Private banks’ attrition rateCompetitors 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. Also Read | ‘Sheer loot of citizens’: ICICI Bank’s minimum balance rule triggers outrageOther 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. Also Read | ICICI Bank Q1 results: Net profit rises 15.5% YoY at ₹12,768 croreOver 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.Why did the attrition rate drop?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. Also Read | Banking sector Q1 results review: No major surprises so far; here are top picks”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 in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. 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ICICI Bank experiences its smallest decrease in staff numbers in the past three years. This is the reason.
