A bank has 'cut off' nearly 2,000 employees

ngân hàng - Ảnh 1. — LPBank drastically cuts staff - Photo: NH Website

Loc Phat Vietnam Commercial Joint Stock Bank - LPBank (LPB) has just announced its financial report for the second quarter of 2025, showing positive business results despite a sharp reduction in staff.

As of the end of June 2025, LPBank had 9,203 employees, a decrease of 367 people compared to the end of March 2025.

In the first quarter of 2025 alone, the bank laid off 1,619 people. Thus, in just the first 6 months of the year, the total number of employees leaving LPBank reached 1,986 people.

Along with the streamlining process, the average monthly income of employees increased from 21.19 million VND (same period last year) to 26.94 million VND in the first 6 months of this year.

Despite the decrease in the number of employees, LPBank's total labor costs still increased by 8% year-on-year, to VND1,557 billion in the first half of the year.

Regarding business results, LPBank's net interest income in the second quarter reached VND3,735 billion, a slight increase of 2.5% over the same period.

However, due to increased operating costs, pre-tax profit decreased by 1.5% to VND2,988 billion.

Accumulated in the first 6 months of the year, net interest income reached VND 7,018 billion, down 1.3%; while pre-tax profit reached VND 6,164 billion, up 4% over the same period in 2024.

As of June 30, 2025, LPBank's total assets reached VND 513,613 billion, an increase of 1% over the beginning of the year.

Outstanding customer loans increased sharply by 11.2% to VND368,726 billion; while deposits increased more slowly, only 10.6%, reaching VND313,174 billion.

What is the average income of PGBank employees?

Prosperity and Development Joint Stock Commercial Bank - PGBank (PGB) has just announced its financial report for the second quarter of 2025.

According to the report, net interest income reached nearly VND472 billion, up nearly 12% over the same period. The foreign exchange business segment changed from a loss of more than VND11.6 billion in the second quarter of last year to a profit of nearly VND30 billion this year. In addition, income from other activities reached nearly VND52 billion, 2.6 times higher than the same period.

On the other hand, operating expenses this quarter increased by 22%, to over VND246 billion. However, credit risk provision expenses decreased to over VND133 billion, helping pre-tax profit in the second quarter reach VND188 billion, nearly double the same period last year.

Accumulated in the first 6 months of the year, pre-tax profit reached more than 284 billion VND, an increase of 35% over the same period in 2024. However, the ratio of bad debt to outstanding loans increased from 3% to more than 3.3%.

As of the end of June, outstanding customer loans reached VND44,897 billion, an increase of more than 10%.

In terms of personnel, at the end of the second quarter of 2025, PGBank had 1,913 employees, a decrease of 29 employees compared to the end of the previous quarter. Average income reached 26.7 million VND/month, higher than 24.53 million VND in the same period last year.

BINH KHANH

Source: https://tuoitre.vn/mot-ngan-hang-da-cat-phang-gan-2-000-nhan-su-20250721200819078.htm