ICICI Bank has seen the biggest decline in workforce strength among large private sector banks in FY26.Employees, including those in overseas locations, on the permanent rolls of India’s second largest private sector bank declined by 5,148 during FY26. The employee count stood at 124,029 as at March-end 2026 against 129,177 as at March-end 2025.The reduction in employee strength comes even as the bank added 528 branches in FY26, taking its total network to 7,511 branches as at March-end 2026.The streamlining of employees in private sector banks comes in the wake of traditional banking roles getting re-oriented with the automation of routine, high-volume tasks such as account opening, loan origination and processing, payments, and customer service, to improve customer experience, lower turnaround time and reduce costs.This allows the branch staff to focus their attention on sales activities and offer higher-value advisory to customers.HDFC Bank’s workforce strength declined by 3,343 during FY26 to stand at 2,11,178 employees as at March-end 2026 against 2,14,521 in FY25. The composition of India’s largest private sector bank’s workforce is undergoing a change, with reduction in non-supervisory staff but additions at the junior management and above levels.The bank net added 234 branches in FY26, with the network standing at 9,689 as at March-end 2026.Axis Bank also reported a decline in headcount, with employee strength falling to just over 1,01,300 in FY26 from 1,04,453 in the previous year, a reduction of about 3,153 employees. It net added 399 branches in FY26, with the network standing at 6,278 as at March-end 2026.Kotak Mahindra Bank too saw its workforce shrink, with employee strength falling by 1,269 to 74,054 in FY26 from 75,323 a year earlier. The bank net added 128 branches in FY26, with the network standing at 2,276 as at March-end 2026.In its latest annual report, ICICI Bank said, “Empathy is reflected not only in how we serve customers, but also in how we care for and support our colleagues. Our empathy towards colleagues is reflected in the way we invest in their growth, well-being and success. We strive to create an environment where every colleague feels valued, supported and empowered to perform at their best through a bouquet of initiatives.“The list of initiatives includes structured learning programmes, continuous capability building, leadership engagement, health and wellness programmes, employee engagement initiatives and various policies that support colleagues during professional needs and personal emergencies.”Pradeep Kumar Sinha, Chairman, ICICI Bank, observed that the bank continues to strengthen its delivery systems by focussing on simplified processes, enhancing data analytics and leveraging digital public infrastructure.“AI technologies are evolving rapidly, and thoughtful adoption of these technologies will provide significant benefits across many areas of banking. The bank has invested in platforms, built partnerships and created use cases of generative AI models while ensuring adequate guardrails on data privacy and cybersecurity. The bank continues to invest in technology infrastructure and cybersecurity to ensure resilience and safe banking for its customers,” he said.Published on July 19, 2026