HSBC Vietnam sharply increases average employee income to 60 million dong per month

16-Apr-2021 Intellasia | Doanh nghiep va Tiep thi | 5:02 AM Print This Post

HSBC Bank Vietnam Limited has released the financial statement in 2020. HSBC Vietnam is currently one of the nine100 percent foreign owned banks in Vietnam, and one of the foreign banks with the most outstanding business operations.

According to the financial statement, in 2020, HSBC Vietnam had a pre-tax profit of 1.985 trillion dong, down by 33 percent compared to 2019, although the cost of risk provisioning declined sharply by 78 percent to 25 billion dong. The reason is that the bank’s two main sources of income including net interest income and income from services were both less positive than the previous year, falling by respectively 20.3 percent to 2.953 trillion dong and by 18 percent to 686 billion dong.

The total assets by the end of 2020 of HSBC Vietnam were 129.045 trillion dong, up by 3.1 percent compared to the end of 2019. The outstanding loans to customers dropped by0.3 percent to 48.045 trillion dong, while customer deposits increased by 1.4 percent to 111.450 trillion dong.

The bank’s bad debts by the end of 2020 were 348 billion dong, slightly up by 1.7 percent compared to the end of 2019. The bad debt ratio stood at 0.36%.

Despite the profit decline, HSBC Vietnam still increased salaries for its employees in the past year. The bank’s average total number of employees in 2020 was 1,317 people, a decrease of 91 people compared to the previous year. the total salary fund in 2020 of HSBC Vietnam was 728 billion dong, up by 4.6 percent compared to 2019. In addition, there were 133 billion dong of additional salaries and 67 billion dong of other income.

Accordingly, the average salary of HSBC Vietnam in 2020 was 553 million dong per year, higher than the 494 million dong per year recorded in 2019. The annual average income increased from 652 million dong to 705 million dong.

On average, the monthly income of HSBC Vietnam in 2020 was 58.8 million dong, up by more than four million dong compared to 2019.

The income of HSBC Vietnam’s employees was also much higher than the top domestic banks in terms of employee income, such as Vietnam Technological Commercial Joint Stock Bank (Techcombank, 37 million dong per month), Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank, 33 million dong per month), Military Commercial Joint Stock Bank (31.4 million dong per month), Saigon Hanoi Commercial Joint Stock Bank (31.2 million dong per month), Vietnam International Commercial Joint Stock Bank (31 million dong per month), etc.

 

Category: Finance, Vietnam

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