Foreign bank staff paid 2-3 times more than staff at Vietnamese banks

June 06, 2017 | 15:06

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While Vietnamese banks pay VND20 million ($900) or so to every worker, foreign banks pay three times higher.

In Vietnam, bank officers are believed to be some of the best paid workers. Of Vietnamese commercial banks, state-owned banks are the most generous, mostly because they are large banks with charter capital of over VND10 billion with huge profits.

The four banks which pay the highest salaries as reported by ndh.com include Vietcombank, Techcombank, BIDV and VietinBank.

While Vietnamese banks pay VND20 million or so to every worker, foreign banks pay three times higher.

Vietcombank reported the average income of its worker of VND26.5 million a month in 2016, an increase of 17.8 percent over the year before.

BIDV and VietinBank workers received VND21 million on average, or 11-13 percent higher than the year before.

As for smaller banks, VIB and Military Bank are close to the leading group with workers’ income in 2016 reaching VND20.4 million and VND17.3 million, respectively.

VP Bank paid VND14 million to workers on average in 2016, lower than the VND18.3 million in 2015.

In 2016, the number of employers at VP Bank soared to 17,400, an increase of 4,500 over 2015. The total number of VP Bank’s workers now ranks third in the banking system, after BIDV and VietinBank.

At Eximbank, ACB and banks facing bad debts, the monthly income of workers were between VND11-14 million.

Foreign bank staff make higher salaries. The 2016 audited finance report showed that the average income of ANZ workers was around VND70 million. The bank with over 500 workers reported average income of VND69 million in 2015.

HSBC did not reveal the pay to its workers, but it is believed to be higher than that of Vietnamese largest banks.

Officers of foreign banks have better business performance than Vietnamese banks.

In 2016, HSBC had post tax profit of VND1.440 trillion. It had 1,300 workers. At ANZ, the profit that every worker created was around VND800 million.

As for Vietnamese banks, the figures were much lower. Each Vietcombank officer created profit of VND360 million in post-tax profit in 2015 and VND440 million in 2016.

Compared to 2016, banks are looking at brighter prospects in 2017 as many indexes look like they are on a trend of improvement, according to Dau Tu.

According to the National Financial Supervisory Commission (NFSC), the return on total assets (ROA) and the return on common equity (ROE) of credit institutions in 2016 was higher than in 2015.