Banking - Finance
Tuesday, 13/08/2013, 08:29

ACB slims down employees, cuts wages


HA NOI (Biz Hub) ― Asia Commercial Bank (ACB) in the first half of the year cut down the total number of employees at the bank and its affiliates by 568 to just over 9,700.


According to a new financial report, the bank spent VND625.2 billion ($29.8 million) on wages and allowances for employees in six months, a sharp fall in relative terms compared to VND898 billion ($42.8 million) over the same period last year.

On average, an ACB staff member was paid VND10.73 million ($511) per month, a year-on-year decline of 26 per cent.

The bank said almost all of its business areas were profitable in the first half, except for a loss of about VND54 billion ($2.57 million) from gold and foreign currency trading. ― VNS 

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