HDFC Bank managing director Aditya Puri (File picture)
NEW DELHI: Rather a lot has been achieved within the 26-year outdated journey of HDFC Bank but the “best is yet to come”, the lender’s outgoing managing director Aditya Puri mentioned.
Puri expressed satisfaction that he was passing on the baton to Sashidhar Jagdishan, who’s the “worthiest person” to lead the financial institution.
Earlier this month, HDFC Bank appointed Jagdishan because the managing director with impact from October 27, when Puri turns 70.
“I haven’t been happier than I’m now as I write this. I’ve always maintained our best is yet to come, and with Sashi now at the helm I have no doubt that our best will come.
“I would not go into the qualities he possesses as a result of most of us would know that. Suffice to say that in him you will have the best particular person to lead and I’ve the worthiest particular person to hand over the baton to,” Puri said in an e-mail to the lender’s employees.
Puri, who joined as the first employee of HDFC Bank, said: “If I look again, 26 years looks as if yesterday. From my first workplace with damaged chairs to now, what we have achieved on this time is unbelievable and does not have too many parallels globally.”
The veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of the country.
“Sample some of our achievements that I’m very proud of– We actually are a world-class Indian Bank in the present day and one of the biggest in impartial India in phrases of outreach, steadiness sheet, quantity of clients, and market capitalisation. We have introduced 1.11 crore households out of poverty by our Sustainable Livelihood Initiative (SLI),” he said.
Besides, he said, the bank has made a difference to the lives of over 7.8 crore Indians through its corporate social responsibility initiative Parivartan.
“We’ve come to be acknowledged as one of the nation’s best wealth creators and we’ve got emerged as one of the biggest employers in impartial India,” he added.
The bank over the 26 years has built an employee strength of about 1.16 lakh. It has a branch network of 5,326 and 14,996 ATMs across 2,825 cities and towns of the country.
Giving credit to employees for the success, he said, “Like I’ve at all times mentioned I’m simply the face of the success referred to as HDFC Bank. It’s you that the actual credit score goes to. We would not be what we’re in the present day with out you. So take a bow and preserve showering on Sashi the identical love and affection that you have showered on me all these years for which I’m going to stay eternally grateful to you.”
Jagdishan has been with the financial institution since 1996 and joined as a supervisor within the finance operate.
He was appointed as a ‘change agent’ lately and heads the finance, human sources, authorized and secretarial, administration, infrastructure, company communications and company social accountability features.
Under Puri, the financial institution’s web revenue has grown from Rs 80 lakh in 1994-95 to Rs 26,257 crore in 2019-20.
Puri, an ex-Citibanker, emerged as the very best-paid Indian banker in FY 2019-20 with a 20 per cent progress in gross earnings at Rs 18.92 crore.
He additionally earned an extra Rs 161.56 crore in FY20 and Rs 42.20 crore in FY19 by exercising his inventory choices.