Public-sector banks added more than 13,000 employees in FY26, annual report data shows

Public-sector banks expanded their workforce during the financial year ended March 31, 2026, with eight state-owned lenders collectively adding 13,223 employees, according to an analysis of their annual reports.

The combined employee strength of the eight banks increased to 628,203 in FY26 from 614,980 in FY25, reflecting continued hiring across the sector despite ongoing investments in digital banking and automation.

The analysis covered State Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank, Bank of India, Indian Bank, UCO Bank and Bank of Maharashtra. Annual reports for four other public-sector lenders—Punjab & Sind Bank, Union Bank of India, Central Bank of India and Indian Overseas Bank—had not been released at the time of the analysis.

Among the banks reviewed, State Bank of India recorded the largest increase in employee strength, adding 8,905 employees during FY26. The bank’s workforce rose to 245,131 from 236,226 a year earlier, accounting for a majority of the net additions reported by the eight institutions.

Bank of Baroda added 1,685 employees, taking its workforce to 76,693. Bank of Maharashtra increased its employee strength by 1,005 employees to 15,596.

Canara Bank reported a net addition of 567 employees, raising its workforce to 81,827. Punjab National Bank added 527 employees, bringing its total staff strength to 96,738. Bank of India increased its workforce by 446 employees to 51,010, while Indian Bank added 153 employees, ending the year with 40,224 employees.

The workforce expansion comes as public-sector banks continue to invest in technology, digital services and process automation. The hiring trends indicate that banks are continuing to recruit talent across operational, customer-facing and specialised functions while modernising their business operations.

The remaining public-sector banks are expected to release their annual reports in the coming months, which could provide a broader picture of employment trends across the state-owned banking sector in FY26.