Despite the noise surrounding Sacombank 's recent dismissal of a series of employees, including those who have been with the bank for decades, the total number of employees as of December 31, 2024 of 27 domestic joint stock commercial banks still increased by nearly 5,500 people compared to the beginning of 2024.

According to the separate financial statements of 27 domestic commercial banks (excluding Agribank due to its unpublished financial statements and 5 banks under special control), the total number of employees as of December 31, 2024 is 241,417 people, an increase of 5,467 people compared to the beginning of 2024.

Most banks recorded an increase in the number of employees compared to the beginning of the year, in which the two banks with the strongest increase were MB with an increase of 1,674 people, up to 12,155 people, and VPBank with an increase of 1,404 people, up to 15,003 people.

In addition, the Top 5 banks with the strongest increase in the number of employees in 2024 also include: HDBank increased by 965 people, up to 10,592 people; Vietcombank increased by 796 people, up to 23,538 people and LPBank increased by 562 people, up to 11,189 people.

In terms of staff size, the three state-owned commercial banks: BIDV (26,000 employees), Vietcombank (23,500 employees), VietinBank (22,500 employees) are leading in terms of the number of employees. ( However, in reality, Agribank is the leading bank in the system. According to data as of June 30, 2024, Agribank has over 40,000 employees ).

Next, the banks: Sacombank (17,000 employees), VPBank (15,000 employees), ACB (12,800 employees), MB (12,155 employees), VIB (11,300 employees), LPBank (11,200 employees), Techcombank (11,000 employees) and HDBank (10,600 employees) are banks with a staff size of over 10,000 employees.

On the other hand, Saigonbank (1,500 employees), Viet A Bank (1,500 employees) and PGBank (1,900 employees) are the 3 banks with the lowest number of employees in the system.

The group of banks with less than 5,000 employees also includes: NCB (2,060 employees), BVBank (2,849 employees), VietBank (2,864 employees), KienlongBank (3,587 employees), ABBank (3,700 employees) and Bac A Bank (3,800 employees).

Although it is in the group of banks with the strongest increase in the number of employees and is in the Top 10 banks with the largest number of employees in the system, a year ago, LPBank led the system in cutting staff by more than 1,500 people in 2023. The number of employees of this bank has fluctuated strongly in recent years, currently more than 3 times higher than 10 years ago.

However, LPBank has recently taken a strong hand in streamlining its apparatus after merging 16 specialized departments into 8. Along with that is the reduction of personnel in early 2024 as an inevitable trend after the digitalization of banking.

After the Lunar New Year, it was the turn of Sacombank, under Chairman Duong Cong Minh, to drastically cut staff when a series of employees, most of whom did not have a university degree, had to leave the bank to find new jobs.

Sacombank is also one of 8 banks that recorded a decrease in the number of employees in 2024. Accordingly, the number of employees at this bank as of December 31, 2024 was 17,058 people, a decrease of 354 people compared to the beginning of the year.

The results of the staff cuts at Sacombank (and other banks) will be clearer when the specific numbers are revealed at the end of the first quarter.

It is a fact that most banks have been streamlining their apparatus in the past few years. The only difference is that this is done more quietly.

In addition, banks still have to recruit more for departments that are really necessary. As the vice chairman of the board of directors of a joint stock commercial bank shared: "Some departments have reduced their staff by up to 70%, but there are also departments that continuously have to recruit more people."

Although it is at the center of the personnel purge, Sacombank is not the bank that will cut the most staff in 2024. Leading the decline in the number of employees last year was BIDV, which reduced by 1,107 people to 26,069 people.

After a sharp increase of 1,800 employees in 2023 (the highest in the system), VIB also recorded a decrease of 476 employees in 2024, the second strongest cut in the market, only after BIDV, to 11,323 employees.

Next is ACB, down 377 people to 12,847 people (in 2023, it will increase by more than 600 people).

The remaining banks in the group of 8 banks with a decrease in the number of employees in 2024 include: TPBank (59 fewer people), ABBank and Nam A Bank both with a decrease of 51 people, and KienlongBank with a slight decrease of 28 people.

NUMBER OF BANK EMPLOYEES AS OF DECEMBER 31, 2024 (PERSONS)
STT BANK SLNV +/- COMPARED TO 2023
1 BIDV 26,069 -1.107
2 VIETCOMBANK 23,538 796
3 VIETINBANK 22,333 159
4 SACOMBANK 17,412 -354
5 VPBANK 13,599 1,404
6 ACB 13,224 -377
7 MB 10,481 1,674
8 VIB 11,799 -476
9 LPBANK 10,627 562
10 TECHCOMBANK 10,828 149
11 HDBANK 9,627 965
12 TPBANK 7,939 -59
13 OCB 6,816 205
14 MSB 6.013 391
15 EXIMBANK 6.164 202
16 SHB 5,753 374
17 SEABANK 5.207 78
18 NAM A BANK 5.311 -51
19 BAC A BANK 3,595 202
20 ABBANK 3,760 -51
21 KIENLONG BANK 3,615 -28
22 VIETBANK 2,543 321
23 BVBANK 2,557 292
24 NCB 1,952 108
25 PGBANK 1.909 9
26 VIET A BANK 1,520 37
27 SAIGONBANK 1,448 42
TOTAL: 241,417 5,467

According to VietNamNet's statistics on the average income of bank employees today for listed banks, Techcombank is the bank that spends the most on employee salaries and bonuses.

The average income of Techcombank employees in 2024 is 48 million VND/person/month. The following banks are: HDBank (38.65 million VND), Vietcombank (38 million VND), ACB (37.83 million VND), BIDV (37.82 million VND), VietinBank (37.59 million VND), TPBank (34.14 million VND), MSB (33.64 million VND), VIB (31.29 million VND), VPBank (31 million VND), NCB (30.97 million VND), Sacombank (30.87 million VND), SeABank (30.20 million VND), ...