The first bank in Vietnam to increase employee income to over VND 62 million/month
HSBC Bank Vietnam One Member Limited has just released its financial statements for 2021.
Accordingly, in the year heavily affected by the Covid-19 epidemic, HSBC’s pre-tax profit dropped 17% compared to 2020 to VND 1,647 billion. This is the third consecutive year HSBC has recorded a decline in profit. This foreign bank’s profit once reached more than 3,000 billion dong in 2018.
The reason for the decline in profit was mainly due to poor net interest income and a sharp increase in risk provision expenses.
Specifically, HSBC Vietnam’s net interest income in 2021 reached VND2,505 billion, down 15% year-on-year. Meanwhile, other business activities had better results: profit from service activities increased by 14% to VND 783 billion, profit from foreign exchange business increased sharply by 53% to VND 1,059 billion. Other business activities have a profit of 113 billion, up 5.3%.
The bank’s operating expenses increased slightly by 3.8% last year to VND2,534 billion. Accordingly, net profit from business activities reached 1,925 billion.
Notably, HSBC’s provision expenses skyrocketed to VND 279 billion, 11 times higher than 2020. This is also the largest provision in the past 7 years of this bank.
In 2021, the bank’s total assets increased by 27% to more than VND 163,700 billion. Outstanding loans to customers increased by 14.4% to 54,981 billion VND. Customer deposits increased 31.1% to 146,104 billion dong.
In terms of personnel in the past year, HSBC Vietnam had 1,302 employees, a decrease of 15 people compared to 2020. The bank spent more than 972 billion VND to pay salaries and other incomes for officials and employees. The average salary/person/year is 574 million VND, equivalent to 48 million VND/month. The average employee income in 2021 of HSBC Vietnam is 62.25 million VND/month, up from 58.75 million VND/month in 2020.
Accordingly, HSBC Vietnam is still the bank with the highest average employee income recorded today.
Among domestic banks, only Techcombank has an average employee income of over 40 million VND. According to the financial report, in 2021, this bank’s employees have an average income of 43 million VND/month.
Other Vietnamese banks with an average employee income of over 30 million dong include MB, Vietcombank, ACB, etc.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
