The list of the highest paying banks in Vietnam seems to have been finalised with familiar names like Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank), Tien Phong Commercial Joint Stock Bank (TPBank), etc., but the joint of Nam A Commercial Joint Stock Bank (NamABank) has changed the top 5.
Accordingly, with a payment of 31.5 million dong per person per month, NamABank has knocked VietinBank out of the top 5 to be in the same ranking with Vietcombank, TPBank, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Military Commercial Joint Stock Bank (MBBank).
Specifically, according to the parent bank’s financial statement in the first quarter (Q1) of 2019, by the end of the quarter, NamABank had 2,294 employees. In the period, NamABank spent 218 billion dong on paying salaries and allowances. On average, each employee of NamABank received 95 million dong per person per quarter, equivalent to 31.7 million dong per person per month.
Meanwhile, the payment for employees at the bank’s subsidiaries was slightly lower. The Q1 consolidated financial statement of NamABank, there were 2,315 people in the bank’s entire system, each was paid 94.6 million dong per person per month, equivalent to 31.5 million dong per person per month.
With the spending of nearly 32 million dong per month for each employee, NamABank ranked the fourth in the list of highest paying banks in Vietnam, following Vietcombank (38.2 million dong), TPBank (35.3 million dong) and Techcombank (32 million dong). MBBank was last in the top 5 with monthly payment of 31.4 million dong per person.
It can be seen that in this top 5, besides Vietcombank which has maintained the top position for a long time, the four other banks all had particular rise.
Compared to Q1 2018, the employee income increased by 4.3 million dong at MBBank, equivalent to 16 percent; by 9.8 million dong at TPBank, equivalent to 38.4 percent; by three million dong at Techcombank, equivalent to 10.3 percent.
The employee income at NamABank saw the strongest growth rate. The bank’s salary fund after one year increased by 104 billion dong, up by 91.2 percent. This was thanks to the 116 billion dong increase of NamABank’s after-tax profit in the period, equivalent to 96 percent rise compared to the same period of last year.
