Sharing is caring! SBI wants to share profits with employees

A report says that the bank also plans to give stock options to employees above the rank of assistant/deputy general manager.

State Bank of India is seeking government's permission to share up to 3% of its annual profits to staff in incentives, according to a report.

In an attempt to attract and retain talent, the leading public sector  bank also plans to give stock options to employees above the rank of assistant/deputy general manager.

"We are taking all regulatory approvals to incorporate a new performance-based incentive structure," said Ashwini Mehra, deputy managing director and corporate development officer, SBI reportedly said.

 If the proposals are approved by the Centre, it may lead to more than 2 lakh SBI employees sharing about Rs 390 crore of its profits.