Bank employees still living large despite doldrums

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Many banks recently released first-half financial statements that showed employee incomes at many banks are still high, despite the institutions’ hardships.

Vietcombank’s first-half consolidated financial statement showed that its second-quarter after-tax profits rose 22 per cent on-year to VND1.06 trillion ($50.4 million), bringing the bank’s six-month after-tax profit to VND2.23 trillion ($106.2 million), a 12.4 per cent bump compared to the first six months of 2013.

Also in the first half, Vietcombank earmarked VND1.55 trillion ($73.9 million) for staff remuneration, averaging VND112 million ($5,300)/6 months and VND18.6 million ($885) per capita per month.

As of June 30, the bank consisted of its headquarters, one transaction bureau, one training centre, 89 branches, and a rep office in Singapore with total staff numbering 13,873.

In the first six months of 2014, Military Bank (MB) posted VND1.33 trillion ($63.7 million) in post-tax profits, slightly down on-year.

As of June 30, the bank reported its staff at 6,389 with more than VND689 billion ($32.8 million) in total income, averaging nearly VND18 million ($857) per capita per month.

BIDV also caved its name among banks taking the lead in staff payments, at nearly VND19 million ($904) per capita per month.

With total after-tax profits reaching VND614 billion ($29.2 million) in the second quarter this year, up 34 per cent on-year, and six-month cumulative profits at VND1.2 trillion ($57.2 million), up nearly 9 per cent on-year, Sacombank has scaled-up recruitment.

As of June 30, the bank had a reported headcount of 11,089 people, up 303 compared to the end of the first quarter.

The bank’s payroll reached VND1.07 trillion ($51 million) in the first half, averaging VND16.1 million ($766) per capita per month.

The employees at VietinBank, Techcombank and ACB respectively reported average monthly pay of VND17.9 trillion ($852), VND16.9 million ($804), and VND15.5 million ($738).

Salaries at public banks such as PVcomBank, OceanBank, PGBank, and Saigon-Hanoi Bank were also relatively high, in the range of VND10-12 million ($476-$571) per capita per month.