Business

Bank employees get raises in Q1

Commercial banks employees have received higher salaries in the first quarter this year thanks to the improved performance of banks.
Bank employees get raises in Q1 ảnh 1Illustrative photo (Source:Internet)

Hanoi (VNA) - Commercial banks employees have received higher salaries in the first quarter this year thanks to the improved performance of banks.

According to the financial reports released by banks recently at their shareholders’ meetings, employees at Vietcombank got the highest monthly average wage of 23.5 million VND (more than 1,000 USD) in Q1 this year, up 5 million VND against the same period last year. The bank, which has 14,750 employees, spent 1.016 trillion VND for wages in the period, up 30.7 percent against Q1 2015.

Vietinbank also reported an average salary rise of 2.4 million VND per month in Q1, helping more than 21,000 employees to receive 20.6 million VND as monthly salary.

The bank, whose pre-tax profits surged 54 percent in the first three months this year to 2.404 trillion VND, set aside 1.3 trillion VND for its employees’ salaries, up 21 percent year-on-year.

Though the number of employees increased 24 percent to 23,834 due to its merger with Mekong Housing Bank (MHB), Bank for Investment and Development of Vietnam (BIDV)’s salary costs in Q1 this year still rose 18 percent to 1.25 trillion VND. Average monthly wage at the bank was 17.5 million VND.

After the merger with MHB, BIDV’s provision fund in Q1 nearly doubled in the same period last year to nearly 2 trillion VND, causing the bank’s pre-tax profit to decline to roughly 2 trillion VND.

Though the business results were not as good as expected with total assets declining from 124.8 trillion VND by the end of 2015 to 122.2 trillion VND by the end of Q1, Eximbank’s total salaries for employees still rose from 243 billion VND to 267 billion VND, helping a bank employee receive a monthly wage of 14.5 million VND.

According to experts, finance and banking have been among the industries that have offered the highest salaries to mid-level and senior managers.

A report from Navigos Search, a personnel recruiting agency in Vietnam, said that the highest salaries were offered by employers in the banking and services sectors in the first quarter this year. Senior directors of a commercial bank and a customer services company get a monthly salary of over 200 million VND.

Monthly salaries from 100 million VND to 145 million VND were also offered to candidates by companies in the banking, healthcare, customer services and trading in Q1 this year, Navigos reported.-VNA

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#Commercial banks #employees #Vietcombank #BIDV #Mekong Housing Bank #Navigos Search
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