Techcombank’s average employee income soars to nearly VND45 million

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

Vietnam Technological and Commercial Joint Stock Bank (Techcombank TCB) has recently released the financial statement in the second quarter (Q2) of 2021. In the first two quarters of the year, the bank’s consolidated pre-tax profit reached up to 11.5 trillion dong, up by 71 percent over the same period of 2020. The ratio of Current Account Savings Account (CASA) was 46.1%, unchanged compared to the end of 2020, and currently is the highest in the system. In the past year, the demand deposits in Techcombank has increased by 55 percent and reached 133.4 trillion dong.

The asset quality of Techcombank continues to lead the industry with a bad debt ratio of only 0.4%, lower than the 0.9 percent in Q2/2020 and remained unchanged compared to the end of Q1/2021. The bad debt coverage ratio by the end of Q2/2021 of the bank was 259%, higher than the 171 percent recorded in the end of 2020 and 109 percent as of June 30th 2020.

Techcombank also maintains its leading position in Vietnam in terms of capital with Capital Adequacy Ratio (CAR) according to Basel II reaching 15.2 percent by the end of Q2/2021, higher than the minimum limit of eight percent according to the pillar I of Basel II. The bank’s Return on Assets (ROA) is among the highest with 3.7%.

In addition to the above impressive business results, the income of Techcombank’s employees is also very admirable.

The Q2/2021 consolidated financial statement of Techcombank showed that as of June 20th 2021, Techcombank had 12,016 employees, an increase of 214 people compared to the beginning of the year. The average number of employees in the period was 11,909 people. For the parent bank alone, 136 employees were hired in the first six months of the year, reaching a total of 1,284 people.

In the first two quarters of 2021, the bank spent 3.174 trillion dong on salaries, allowances and other incomes for employees. Accordingly, the average monthly income of all Techcombank employees (including employees in the bank’s subsidiaries) was 37 million dong per month per person, significantly higher than the 31 million dong per month in the same period of 2020.

The average monthly income of all Techcombank employees (including employees in the bank’s subsidiaries) in the first half of 2021 was 44.4 million dong per month per person, up by eight million dong per month compared to the same period of last year.

Unlike other banks, there was not much different in the average income of employees in Techcombank’s parent bank and in the bank’s subsidiaries. Currently, the average salary and income of the separate bank are respectively 36.5 million dong per month and 44.5 million dong per month.

Previously, in Q1/2021, the average salary of Techcombank’s employees was 34 million dong per month per person and the average income was 42 million dong per month per person.

With the current employee income, Techcombank continues to be the bank that pays the highest income to its employees among Vietnamese banks, far ahead of the remaining banks.

 

Category: Finance, Vietnam

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