Agribank employees average income 31.58 million VND/month

With spending up to 17,730 billion VND for 42,000 employees in the entire system in 2023, on average, the monthly income of an Agribank employee last year was 31,582 million VND.

Vietnam Bank for Agriculture and Rural Development (Agribank) has just announced its consolidated financial report for 2023. According to the financial report, in 2023, Agribank sharply increased the number of employees from 40,909 to 42,083, thereby continuing to become the bank with the largest number of employees in the system. Agribank's total employee expenses in 2023 (including salaries, allowances, salary-based contributions, subsidies, etc.) amounted to VND 17,730 billion, which is also the largest expense in the entire system. Of which, salary and allowance expenses for employees were VND 15,949 billion, an increase of 12.44% compared to 2022. On average, the average monthly income of Agribank employees last year was VND 31,582 million/month, a sharp increase of VND 2.7 million/month compared to the average monthly income in 2022.

Agribank is the bank with the largest number of employees in the system due to its network of branches and transaction offices covering the whole country. Photo: Pham Hai

This average income includes salaries and allowances of all employees and bank leaders. Because they have to "bear" the income of leaders, the average income of Agribank employees is up to more than 30 million VND/month, while in reality this number may be lower for the majority of employees. However, the income of 31,582 million VND/month of Agribank employees makes the bank only rank 8th in the list of banks with the highest salaries in the system, and the lowest in the group of big4 banks. Ranking above Agribank currently include: Techcombank (45 million VND/person/month), MB (39.75 million VND), Vietcombank (37.65 million VND), TPBank (36.68 million VND), VietinBank (34.68 million VND), BIDV (32.95 million VND), and VIB (32 million VND). Regarding business activities in 2023, Agribank achieved VND 25,809 billion in pre-tax profit, an increase of 14.73% over the previous year. Profit after tax reached VND 20,696 billion, an increase of 14.7% over the previous year. As of December 31, 2023, Agribank's total assets reached VND 2,044 trillion, an increase of 9% over 2022, thereby continuing to maintain the No. 1 position in the entire system. Outstanding customer loans increased by 7.4%, reaching more than VND 1,550 trillion. Customer deposits increased by 11.9% to more than VND 1,800 trillion, thereby continuing to make Agribank the bank holding the largest capital mobilization market share in the system. 2023 marks an important milestone for Agribank when the National Assembly approved the increase of charter capital from VND 34,446 billion to more than VND 41,268 billion. Currently, Agribank ranks 6th in the entire system in terms of charter capital, after the banks: VPBank (VND 79,339 billion), BIDV (VND 57,000 billion), Vietcombank (VND 55,890 billion), VietinBank (VND 53,700 billion), and MB (VND 52,140 billion).

Vietnamnet

source: https://vietnamnet.vn/nhan-vien-ngan-hang-agribank-thu-nhap-binh-quan-31-58-trieu-dong-thang-2265656.html