Amid record high fundraising anticipation, ICICI Bank plans 30 new hire this year: Report

ICICI Bank jobs: ICICI Bank is planning to hire 30 new employees as it anticipates record high fundraising by companies this year and the next, reported Bloomberg. As per the report, the move will increase ICICI Securities’ headcount to 190.

ICICI Bank hiring

Bloomberg quoted Ajay Saraf, head of investment banking and institutional equities at the lender’s ICICI Securities Ltd and said that the country's second-largest private lender aims for 15 new hires in its investment banking division to beef up its mergers and acquisitions, private equity and fundraising practices, and another 15 in sales, trading, and research.

Also Read: Private Bank Recruitment: Over 50,000 junior officers to be hired to battle FY23 attrition

Private banks in India have been facing higher rates of attrition over the past year. HDFC Bank, India's largest private sector lender, saw attrition of 34.15% in FY23, while IndusInd Bank saw 51% attrition and ICICI Bank 30.9%.

Earlier Mint reported that private banks in India are planning to hire at least 50,000 people for entry-level roles over the coming year to battle high attrition in this segment. As per the report, in the previous financial year, lenders saw a sharp rise in attrition as demand for young workers with digital skills in sales and marketing surged in insurance, retail, and fintech. The lenders are facing stiff competition from fintech firms at present.