Chanda
Kochhar, the head of country's largest private sector lender ICICI
Bank, has drawn Rs 7.85 crore as total remuneration in 2016-17, a
jump of over nearly 64 per cent from a year ago. ICICI Bank MD &
CEO Chanda Kochhar's basic salary increased over 15 per cent to Rs
2.67 crore during the fiscal ended March 2017, as per bank's annual
report. Calculated on daily basis, her cost to the company was Rs
2.18 lakh. During the year, she took home performance bonus of Rs 2.2
crore. However, the bank had not not given performance incentive in
2015-16 due to weak financial status. Her total cost to the company
was over Rs 4.79 crore in 2015-16 and basic salary was Rs 2.32 crore.
The total remuneration included perquisites as well as retiral
benefits. Furnished accommodation, gas, electricity, water and
furnishing, club fees, group insurance, use of car and telephone at
resident, reimbursement and leave travel concession, provident funds
are among the major heads of perquisites. The monthly basic salary
for Kochhar will be within the range of Rs 1,350,000-Rs 2,600,000,
said the annual report 2016-17. In her message, Kochhar said ICICI
Bank is focused on capitalising on growth opportunities. At the same
time, the bank is taking steps to address challenges in environment.
"Our large size, capital base, robust funding profile, extensive
distribution network, diversified portfolio, presence across the
financial services sector and leadership in technology, position us
very well to leverage the growth opportunities across the economy,"
Kochhar said. Shares of the company traded at 0.79 per cent up at Rs
320.10 on BSE.
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