Banks are recruiting massively, but some banks are cutting thousands of jobs.

Top 10 banks with the largest number of employees

According to the individual financial reports of the fourth quarter of 2023 of 27 listed banks, the total number of employees working at the banks as of December 31, 2023 was 235,960, an increase of 6,424 people compared to December 31, 2022.

Among them, Agribank is still the bank with the largest number of employees, up to 41,000 people as of June 30, 2023.

If we add the number of employees at Agribank and thousands of employees at unlisted banks, the total number of employees currently working at parent banks is estimated at over 280,000 people.

However, Agribank has not yet announced its financial report for the fourth quarter of 2023, so it is not possible to know the exact number of employees of this bank at the end of the year.

Among the 27 listed banks, BIDV is still the place with the most bankers, up to 27,176 people, a sharp increase of 1,445 people in the past year.

The number of employees at BIDV is so large that it leaves the two banks behind, Vietcombank and VietinBank, with a gap equivalent to the total number of employees at a medium-sized bank.

Specifically, as of December 31, 2023, there were 22,742 employees working at Vietcombank, an increase of 877 people. Meanwhile, the number of employees working at VietinBank was 22,333 people, a decrease of more than 500 people compared to the end of 2022.

In addition to the three state-owned commercial banks mentioned above, the Top 10 banks with the largest number of employees include: Sacombank (17,412 people), VPBank (13,559 people), ACB (13,224 people), VIB (11,799 people), Techcombank (10,828 people), LPBank (10,627 people) and MB (10,481 people).

According to statistics, up to 20/27 listed banks increased recruitment last year as the number of employees increased compared to the previous year.

VIB and BIDV were the two largest recruiting banks last year, with an increase of 1,859 and 1,445 employees, respectively. In 2023, only these two banks recorded an increase of over 1,000 employees.

The group of commercial banks that recorded the next highest increase in personnel fluctuations were: HDBank (increase of 972 people), Vietcombank (increase of 877 people), OCB (increase of 770 people), Nam A Bank (770 people), ACB (620 people), Eximbank (601 people).

Some banks cut thousands of employees

On the contrary, 7 banks have a decrease in the number of employees compared to 2022, including: LPBank, TPBank, Techcombank, VietinBank, ABBank, NCB and MSB.

LPBank is the most aggressive in cutting staff, with 1,576 fewer employees. Meanwhile, TPBank reduced 747 employees, Techcombank reduced 717 employees, and VietinBank reduced 546 employees.

It can be seen that the banks with the highest fluctuations in the number of employees are the large banks. Cutting operating costs in the context of general difficulties may be the reason why banks are more aggressive in laying off employees.

However, despite a large reduction in staff, LPBank, VietinBank and Techcombank are still in the top 10 banks with the largest number of employees. Up to 6/7 banks will reduce staff but increase employee income in 2023.

Specifically, the average income of LPBank employees increased by 5 million VND/month compared to 2022, reaching 22 million VND/person.

TPBank employees' income also increased by 4.58 million VND, reaching 36.68 million VND/person.

Techcombank, the industry leader in terms of compensation, also increased its employees’ salaries by VND2 million per month. The average income, including salary and allowances, of this bank’s employees is VND45 million per person per month.

At VietinBank, the average employee income is 34.68 million VND/month, an increase of 3 million VND compared to last year.

ABBank employees' income also increased sharply by 5 million VND to 24.3 million VND/person/month, while NCB employees' average income was 23.6 million VND/month, an increase of 2 million VND compared to last year.

Notably, the average income increase of VND5 million for ABBank employees shows that the bank's board of directors has kept its commitment at the 2023 Annual General Meeting of Shareholders when convincing shareholders to agree to increase employee income.

NUMBER OF EMPLOYEES AT 27 LISTED BANKS AS OF DECEMBER 31, 2023
STT	BANK	NUMBER OF EMPLOYEES	CHANGE
1	BIDV	27,176	1,445
2	VIETCOMBANK	22,742	877
3	VIETINBANK	22,333	-546
4	SACOMBANK	17,412	34
5	VPBANK	13,599	582
6	ACB	13,224	620
7	VIB	11,799	1,859
8	TECHCOMBANK	10,828	-717
9	LPBANK	10,627	-1.576
10	MB	10,481	495
11	HDBANK	9,627	972
12	TPBANK	7,939	-747
13	OCB	6,816	770
14	EXIMBANK	6.164	601
15	MSB	6.013	-143
16	SHB	5,753	442
17	NAM A BANK	5.311	710
18	SEABANK	5.207	49
19	ABBANK	3,760	-164
20	KIENLONG BANK	3,615	160
21	BAC A BANK	3,595	395
22	BVBANK	2,557	76
23	VIETBANK	2,543	35
24	NCB	1,952	-162
25	PGBANK	1,919	219
26	VIET A BANK	1,520	52
27	SAIGONBANK	1,448	86
TOTAL: 235,960			6,424