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Last Updated : Jul 10, 2020 04:47 PM IST | Source: Moneycontrol.com

Here’s how much Axis Bank CEO Amitabh Chaudhry and other top executives earned in FY20

Chaudhry received a house rent allowance (HRA) of Rs 1.07 crore and a variable pay (of 2018-19) of Rs 45 lakh in FY20

 
 
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Axis Bank’s Managing Director and CEO Amitabh Chaudhry received a basic salary of Rs 3.87 crore while Rajiv Anand, its Executive Director, drew a basic pay of Rs 1.85 crore, according to the company's FY20 annual report. That apart, Chaudhry received a house rent allowance (HRA) of Rs 1.07 crore and a variable pay (of 2018-19) of Rs 45 lakhs in FY20. He also took home a superannuation allowance of Rs 39 lakh.

Anand received HRA of Rs 61 lakh, variable pay of Rs 88 lakh and a superannuation allowance of Rs 18.6 lakh in 2018-19.

Rajesh Dahiya and Pralay Mondal, two other executive directors, received basic salaries of Rs 1.6 crore and Rs 1.13 crore, respectively. Mondal quit in June and will step down by September.

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According to the annual report, Chaudhry was granted 9,80,000 stock options, under the bank's employee stock option scheme, since January 1, 2019, the date of his appointment as Managing Director and CEO.

Of the above, 2,94,000 stock options have been vested, no stock options have been exercised and 2,94,000 stock options remain unexercised as on March 31. A further 6,86,000 stock options remain unvested as on March 31, the annual report said.

Anand was granted 24,70,000 stock option, in various tranches since March 30, 2009, being the date of his appointment as MD and CEO of Axis Asset Management Company, a subsidiary of the bank.

Of the above, 19,59,000 stock options have been vested, 10,52,500 stock options have been exercised and the balance stock options remain unexercised as on March 31. A further 5,11,000 stock options remain unvested as on March 31, the annual report said.

Dahiya was granted 15,87,500 stock options in various tranches since June 1, 2010 being the date of his appointment as President (Human Resources). Of the above, 11,76,500 stock options have been vested, 6,10,000 stock options have been exercised and the balance stock options remain unexercised as on March 31. A further 4,11,000 stock options remain unvested as on March 31.

Mondal was granted 3,50,000 stock options since April 1, 2019 being the date of his appointment as Group Executive. Of the above, no stock options have been vested as such no stock options have been exercised and no stock options remain unexercised as on March 31.
First Published on Jul 10, 2020 04:47 pm

tags #Axis Bank

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