Employee spending at many banks has increased, despite a reduction in staff - Photo: AI drawing
According to statistics of Tuoi Tre Online based on the financial reports of parent companies of 27 listed banks, the average income of banking industry employees continues to improve in the context of streamlining human resources and increasing application of digital technology .
In the first quarter of 2025, 27 listed banks spent more than VND27,649 billion on human resources, an increase of nearly 10% over the same period last year, although the total number of employees decreased by nearly 1,600 people.
However, the average income level has clear differentiation between banks, with two different increasing and decreasing trends.
It should be noted that income is calculated based on a relative estimate of the employee cost each bank spends/total number of employees according to the report. Actual income for each person will depend on position, seniority, ability and many other factors...
Where is the top?
In the first quarter of 2025, TPBank took the lead with an average income of nearly 54 million VND/person/month, up 17% over the same period. In 2024, this bank spent 1,255 billion VND on human resources, up 15% over the previous year, in the context of continuing to streamline the team, down to 7,756 employees.
In contrast, Techcombank recorded a decrease in average employee income from 49 million VND/person/month to 42 million VND in the first quarter of 2025.
TCB’s total personnel costs were VND1,387 billion, down 12% year-on-year, despite the number of employees increasing by more than 300 in the first three months of the year. Last year, Techcombank maintained its top position in terms of average employee income, with an expenditure of VND49 million/person/month.
In the group of state-owned banks (excluding Agribank), Vietcombank is not the bank with the largest number of employees, but it is the unit with the highest personnel costs, with VND3,170 billion in the first quarter of the year.
With 23,528 employees, the average income at Vietcombank is estimated at nearly 45 million VND/person/month, an increase of nearly 13% over the same period last year.
Data: Employee cost/total number of employees
BIDV is the bank with the largest number of employees, with 26,323 people. Total personnel costs in the first quarter reached VND3,047 billion, equivalent to a monthly payment of more than VND38.5 million per employee, an increase of more than 6%.
At VietinBank, the average estimated employee expenditure is 46.4 million VND/person/month, up 15% over the same period.
Many banks increase, few places reduce employee spending
In the group of joint stock commercial banks, VPBank recorded high employee income growth, up to 24% over the same period.
From nearly 36 million VND/person/month in the first quarter of 2024, the average income at VPBank has increased to nearly 44.6 million VND/month.
However, in terms of absolute value, MBBank is the bank that spends more on employees, with more than 51 million VND/person/month, an increase of more than 21%.
Many other banks such as OCB, HDBank, PGBank, DongABank, Eximbank, MSB, SeABank... also recorded good growth in employee compensation, reflecting the trend of increasingly competitive compensation to attract talent.
Data: Employee cost/total number of employees
On the other hand, some banks recorded a decrease in personnel costs. For example, SHB decreased from VND651 billion in the first quarter of 2024 to VND523 billion in the same period this year, equivalent to a decrease of nearly 20%.
It is estimated that the average monthly payment for SHB employees has decreased from VND35.4 million to VND28.15 million/person/month, even though the bank is still increasing recruitment.
Data: Employee cost/total number of employees
In general, bank employees' incomes tend to improve as the industry's overall profits continue to improve in the first quarter. Financial reports show that many joint stock commercial banks reported strong increases in profits, with pre-tax profits increasing from 10% to more than 120% compared to the same period last year.
However, according to Mr. Ngo Hoang Long - Director of VPBankS Securities Analysis Center, the net interest margin (NIM) of banks was under significant pressure in the first quarter, especially the group of state-owned banks. Vietcombank recorded a NIM of only 2.6%. This is a remarkably low level.
In the private banking sector, net interest margin results were uneven. ACB and Techcombank recorded their lowest average quarterly NIMs since 2017.
In contrast, MBBank and TPBank were the two banks with the most positive results. MBBank kept its net interest margin at 4.2%, while TPBank increased it by 30 basis points to 3.5%.
Notably, these are also two banks with high income payments to employees in the first quarter of the year.
Source: https://tuoitre.vn/thu-nhap-nhan-vien-ngan-hang-noi-nao-top-dau-20250516125836024.htm
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