TPBank spends thousands of billions to pay average employee income of nearly 54 million/month

(Dan Tri) - The average monthly cost for TPBank employees has increased by 6 million VND/person compared to the same period in 2024. The average income of TPBank employees is 53.8 million VND, higher than other large banks.

According to TPBank 's Q1/2025 financial report, in the first 3 months of this year, the bank spent VND1,256 billion on employees. Of which, salaries and allowances were VND1,205 billion; salary contributions were VND29.3 billion; allowances and medical expenses for staff were VND7.58 billion; other expenses for staff were VND13.7 billion.

The report also said that by the end of March, TPBank had 7,769 employees, a decrease of 121 people. Thus, on average, each employee here receives 53.8 million VND/month, including salary, bonus, insurance and other benefits..., an increase of 6 million VND compared to the same period in 2024.

This level is higher than the average spending level of other large banks for employees. In the group of large banks with State capital, such as at VietinBank, the cost for each employee of this unit is 45.3 million VND/month, at Vietcombank it is 44.52 million VND/month and at BIDV it is 37.4 million VND/month...

TPBank is the bank that spends the most on employees (Photo: Manh Quan).

Regarding business results, in the first quarter, TPBank reported pre-tax profit of nearly VND2,109 billion and after-tax profit of VND1,687 billion, up 15% over the same period last year. With a pre-tax profit target of VND9,000 billion this year, after the first 3 months of the year, the bank achieved 23% of the set target.

Of which, the bank's net interest income reached VND3,384 billion, unchanged from the same period last year. Net interest income from the bank's services increased by 27% over the same period, reaching VND910 billion; other service fees increased by 70%, to VND710 billion. During the period, the bank's other activities also brought in a profit of nearly VND105 billion, while last year it lost VND16 billion.

On the contrary, foreign exchange trading activities caused TPBank to lose 17 billion VND, while last year it made a profit of 83 billion VND. Investment securities trading activities also decreased profit by 4.6 times, down to 102 billion VND.

Operating expenses in the first quarter increased by 12% to nearly VND1,884 billion, causing the bank's net profit from business operations to decrease by 14% to more than VND2,598 billion.

Thanks to a 59% reduction in credit risk provisioning costs compared to the same period to nearly VND490 billion, the bank's profit still recorded growth compared to the same period.

As of March 31, TPBank's total assets were VND388,891 billion, down 7% compared to the beginning of the year. Customer loans increased by 5% to VND262,477 billion. Customer deposits decreased by 4% to VND233,145 billion.

TPBank's total bad debt was recorded at nearly VND5,971 billion, an increase of 57% compared to the beginning of the year, causing the bad debt ratio to total outstanding customer loans to increase from 1.52% at the beginning of the year to 2.27%.

Source: https://dantri.com.vn/kinh-doanh/tpbank-chi-nghin-ty-tra-thu-nhap-binh-quan-nhan-vien-gan-54-trieuthang-20250505191200825.htm