Each employee of Techcombank earned the bank over 1.88 billion VND in revenue and 1.09 billion VND in pre-tax profit last year. — Photo: Techcombank) Hanoi (VNS/VNA) - Many banks have seen their employeeefficiency increase significantly, with each member of staff earning them morethan 1 billion VND (43,000 USD) in pre-tax profit on average last year.
According to banks’ financial statements released recently, Techcombank had thehighest profit per employee in the Vietnamese banking system in 2018.Specifically, each employee of Techcombank generated over 1.88 billion VND inrevenue and 1.09 billion VND in pre-tax profit last year.
Techcombank’s workforce increased by 1,429 last year to 9,757, of which 9,210were employees of the parent bank. The bank’s total consolidated revenue hit 18.346trillion VND last year while its profit skyrocketed to exceed the 10 trillionVND threshold for the first time.
Ranking second is the performance of employees of State-owned Vietcombank.Vietcombank gained pre-tax profit of 18.3 trillion VND in 2018.
However, due to the large staff size of up to 17,216 employees, each Vietcombankemployee generated over 1.06 billion VND in pre-tax profit. Though the bank’semployee efficiency improved compared to the previous year, it remained lowerthan that of Techcombank.
As for two other State-owned banks – VietinBank and BIDV, since their profitsthis year were lower than some private banks, while the number of employeesincreased, the average performance earning of each employee was low.
Specifically, each employee of Vietinbank in 2018 generated 281 million VND onaverage as the bank achieved consolidated pre-tax profit of only 6.8 trillionVND, nearly 2.5 trillion VND lower than in the previous year, while the totalnumber of employees by the end of 2018 was 24,197, up 413 against the previousyear.
With BIDV, its consolidated pre-tax profit was nearly 9.5 trillion VND, up 800billion VND against the previous year, while the size of the workforce waslarge. Each employee thereby only generated around 373 million VND of profitfor the bank.
Another private bank also gaining high profit of nearly 9.2 trillion VND lastyear was VPBank. However, also due to a combined staff size of 27,429 (of whichFE Credit and its subsidiaries account for nearly 16,000), each employee of thebank generated only 335 million VND in pre-tax profit.
After years of restructuring, ACB was also a private bank with high employeeefficiency. The bank recorded profit of nearly 6.4 trillion VND last year soeach employee of the bank generated more than 580 million VND on average in2018.
Other banks also recorded an improvement in employee efficiency last year,which has partly helped them gain significant profits.
According to industry insiders, business performance per employee of bankspartly shows the current status of each bank in the system. They attributed theimprovement to the banks’ focus on restructuring in recent years.
Nghiem Xuan Thanh, Vietcombank Chairman, said the bank’s management hasdrastically restructured and reorganised the personnel system for effectiveoperation over many years.
Vietcombank has also built key performance indices (KPIs) for each employee,thereby enabling each person to have the opportunity to develop their fullcapacity, he said.-VNS/VNA
According to banks’ financial statements released recently, Techcombank had thehighest profit per employee in the Vietnamese banking system in 2018.Specifically, each employee of Techcombank generated over 1.88 billion VND inrevenue and 1.09 billion VND in pre-tax profit last year.
Techcombank’s workforce increased by 1,429 last year to 9,757, of which 9,210were employees of the parent bank. The bank’s total consolidated revenue hit 18.346trillion VND last year while its profit skyrocketed to exceed the 10 trillionVND threshold for the first time.
Ranking second is the performance of employees of State-owned Vietcombank.Vietcombank gained pre-tax profit of 18.3 trillion VND in 2018.
However, due to the large staff size of up to 17,216 employees, each Vietcombankemployee generated over 1.06 billion VND in pre-tax profit. Though the bank’semployee efficiency improved compared to the previous year, it remained lowerthan that of Techcombank.
As for two other State-owned banks – VietinBank and BIDV, since their profitsthis year were lower than some private banks, while the number of employeesincreased, the average performance earning of each employee was low.
Specifically, each employee of Vietinbank in 2018 generated 281 million VND onaverage as the bank achieved consolidated pre-tax profit of only 6.8 trillionVND, nearly 2.5 trillion VND lower than in the previous year, while the totalnumber of employees by the end of 2018 was 24,197, up 413 against the previousyear.
With BIDV, its consolidated pre-tax profit was nearly 9.5 trillion VND, up 800billion VND against the previous year, while the size of the workforce waslarge. Each employee thereby only generated around 373 million VND of profitfor the bank.
Another private bank also gaining high profit of nearly 9.2 trillion VND lastyear was VPBank. However, also due to a combined staff size of 27,429 (of whichFE Credit and its subsidiaries account for nearly 16,000), each employee of thebank generated only 335 million VND in pre-tax profit.
After years of restructuring, ACB was also a private bank with high employeeefficiency. The bank recorded profit of nearly 6.4 trillion VND last year soeach employee of the bank generated more than 580 million VND on average in2018.
Other banks also recorded an improvement in employee efficiency last year,which has partly helped them gain significant profits.
According to industry insiders, business performance per employee of bankspartly shows the current status of each bank in the system. They attributed theimprovement to the banks’ focus on restructuring in recent years.
Nghiem Xuan Thanh, Vietcombank Chairman, said the bank’s management hasdrastically restructured and reorganised the personnel system for effectiveoperation over many years.
Vietcombank has also built key performance indices (KPIs) for each employee,thereby enabling each person to have the opportunity to develop their fullcapacity, he said.-VNS/VNA
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