The second largest private bank added around 1,700 employees in the third quarter, compared with 10,000 employees in the first half of the current financial year. The lower employee addition has helped the lender cut operating expenses.
"We have witnessed a pretty high growth in operating expenses over the last six quarter because of an increase in the team size of the bank. But, as you have seen, the net increase has slowed down in this quarter and compared to about 10,000 in the first half, we have added about 1,700 employees in the third quarter," said Sandeep Batra, executive director, ICICI Bank, in an analyst call.
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