The domestic bank that pays the highest salary in Vietnam: Why hasn't it "changed its position" yet?

Currently, many banks have announced their financial reports for the second quarter of 2023. Accordingly, the list of domestic banks with the highest salaries has not changed much. The leader is still Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ).

Specifically, as of June 30, 2023, the total number of employees at Techcombank was 10,972. In the first 6 months of the year, the average monthly salary decreased from 40 million VND to 37 million VND; the average monthly income decreased from 46 million VND to 44 million VND.

The same situation is happening throughout the Techcombank system (including the parent bank and its subsidiaries). In the first half of 2023, the average monthly salary decreased from VND 40 million to VND 37 million, and the average monthly income decreased from VND 46 million to VND 45 million.

In the list of domestic banks with the highest salaries in Vietnam, the top position is firmly maintained at 44 million VND/person/month. Illustrative photo

Previously, in the first quarter of 2023, Techcombank was also the champion when paying employees 46.4 million VND/person/month.

In the first quarter of 2023, the runner-up position belongs to Saigon Hanoi Commercial Joint Stock Bank ( SHB ) with 40.6 million VND/person/month. However, currently, SHB has not announced its financial report for the second quarter of 2023, so the runner-up position temporarily belongs to Military Commercial Joint Stock Bank (MB).

At the end of the second quarter of 2023, MB's total number of employees was 10,151. In the first 6 months of 2023, MB spent VND 2,455 billion on salaries and allowances, a slight increase compared to VND 2,307 billion in the same period last year.

Thus, on average, each employee is paid 242 million VND/person/6 months, equivalent to 40.31 million VND/person/month, a slight increase compared to the figure of 40.2 million VND/person/month in the first quarter of 2023.

The reason why MB is generous in paying its employees is because the bank continues to grow well.

In the second quarter of 2023, MB recorded after-tax profit of VND 4,976 billion, an increase of VND 470 billion, equivalent to 10.4% compared to the second quarter of 2022; accumulated in the first 6 months of the year increased by VND 1,021 billion, equivalent to 11.8% to VND 9,638 billion.

Along with increased profits, MB's total assets also increased sharply, increasing by VND80,462 billion, equivalent to 11.6% to VND771,127 billion.

Up to this point, Techcombank and MB are the rare names that pay salaries of over 40 million VND/month to employees.

Tien Phong Commercial Joint Stock Bank ( TPBank ) is the last name in the Top 3 domestic banks with the highest salaries in Vietnam.

At the end of the second quarter, TPBank had 8,348 employees. Although the number of employees decreased slightly, TPBank still increased its salary fund when the salary and allowance expenditure increased from VND1,598 billion to VND1,946 billion.

On average, each employee at TPBank is paid 233 million VND/person/6 months, equivalent to 38.9 million VND/person/month.

Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) is also regularly in the Top domestic banks with the highest salaries in Vietnam. In the first half of 2023, Vietcombank still maintained its performance.

According to the separate financial report for the second quarter of 2023, as of June 30, 2023, the parent bank Vietcombank had 22,579 employees, an increase of 714 people compared to the end of 2022. This means that in the first 6 months of the year, Vietcombank increased recruitment.

During the period, Vietcombank spent VND5,088 billion on salaries and allowances. On average, each employee at Vietcombank is paid VND225 million/person/6 months, equivalent to VND37.6 million/person/month.

This is a period when Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is facing many difficulties. However, the bank's salary fund in the first 6 months of the year still increased slightly to VND 2,608 billion.

With a staff of 12,732 people, each employee at VPBank receives 205 million VND/person/6 months, equivalent to 34.1 million VND/person/month.

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) still maintains the mark of 30 million VND/person/month for employees despite many market difficulties.

Specifically, at the end of the second quarter of 2023, the total number of employees in Sacombank (excluding subsidiaries) was 17,389 people. With a salary and allowance fund of VND 3,198 billion, each Sacombank employee was paid an average of VND 184 million/person/6 months, equivalent to VND 30.7 million/person/month.

Vietnam Maritime Commercial Joint Stock Bank (MSB) still maintains positive profit growth and unchanged staff size at 6,192 people, a very slight increase compared to the end of 2022.

Salary and allowances at MSB also increased slightly from VND870 billion to VND924 billion. Thus, on average, each employee at MSB is paid VND149 million/person/6 months, equivalent to VND24.9 million/person/month.

Source: https://www.congluan.vn/ngan-hang-noi-tra-luong-cao-nhat-viet-nam-sao-chua-doi-ngoi-post258452.html