Managing director Krishna Kumar revealed that India’s largest lender will try to keep human resources at similar levels as they expand the rest of the company.
"We will see the extent of people who are retiring from the bank from all levels. So to that (extent) we may look at replenishing that stock. We will not try to increase. Right now, we have 223,000 people working with us," Kumar said.
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By March 2014, the employee strength may fall to 220,000, he said.
"So we will try to keep the figure constant between 220,000 and 223,000 over the next few years. By reducing the staff all of a sudden, the other activity does not function effectively. But at the same time I should not increase my staff so much that my productivity and my expense becomes an issue.
Staff numbers have already reduced by 5,000 between March and December 2013. A Reserve Bank of India report last year revealed that SBI’s profit per employee ratio is below national average.
Kumar also said corporate credit offtake in the current quarter may be poor given the economic conditions in the country.
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By GlobalData"There is reasonably good offtake in retail lending and housing loans. Probably even by March 2014, we don’t see much offtake in corporate. But we will see fairly good offtake in retail and agriculture," he said.
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