According to reports, an analysis has suggested that the expanded workforce seems to be giving rich dividends to the banks in terms of improvements in their employee productivity.
Axis Bank, Yes Bank and Kotak Mahindra Bank are the other three banks.
Together, the five banks saw their cumulative headcount rise by 15,823 persons in the latest fiscal, ended March 31, 2013, to close to two lakh employees.
The collective headcount of the five banks stood at 1,99,555 as on March 31, 2013.
HDFC Bank's workforce rose by 2,989 employees, while that of ICICI Bank rose by 3,789 persons to 62,065 during the fiscal 2012-13, shows the details published in the banks' latest annual reports.
The five banks together incurred total employee expenses of close to Rs 13,000 crore in the year 2012-13, marking an increase of about Rs 1,700 crore, with HDFC Bank leading the charts in terms of increase as well as the total staff costs for the fiscal.
While per-employee profitability rose for all the five banks, four of them also recorded an improvement in their respective business per employee.
Axis Bank was the only one to see its business per employee dip marginally to Rs 12.15 crore, from Rs 12.76 crore in the previous fiscal.
ICICI Bank said it undertook a special initiative last fiscal to recognise the contribution made by its long-serving employees, wherein about 15,500 staff members having spent more than five years with the bank were presented with a personalised letter signed by its Managing Director and CEO, Chanda Kochhar.