Despite the Covid-19 pandemic, the total remuneration for chairmen of many local banks in the first half of 2021 was over VND200 million (over $9,000) per month, higher than the same period of last year.
The Board of Directors of the Asia Commercial Bank (ACB) operated with eight members in the first half of this year, with Mr. Tran Hung Huy as Chairman.
Accordingly, the total remuneration the bank paid to the members of the Board of Directors during this period was 11.8 billion VND, 32% higher than the same period last year.
Thus, the average remuneration for the chairman and members of the Board of Directors of ACB in the first half of this year is about 1.5 billion VND/person, equivalent to 246 million VND/person/month.
Compared to the first half of 2020, the above average remuneration of ACB Board members has increased by 60 million VND per month.
Similarly, the Board of Directors of the Vietnam Maritime Commercial Join Stock Bank (MSB) operated with six members in the first half of this year, with Mr. Tran Anh Tuan as Chairman, two vice chairs Nguyen Thi Thien Huong and Nguyen Hoang An and three members of the Board of Directors Nguyen Hoang Linh (also General Director), Tran Xuan Quang and Le Thi Lien.
The remuneration fund spent in the first half of the year to pay the six senior leaders mentioned above is 8.3 billion VND, which indicates each member of the Board of Directors has received 1,4 billion VND since the beginning of the year.
On average, MSB has spent about 231 million VND/person/month to pay for the members of the bank’s management board since the beginning of the year.
Compared to the same period last year, this remuneration fund has increased by 40% while the number of members remained unchanged.
This contributed to the average monthly remuneration of MSB members increase by more than 66 million/month.
Sacombank also increased the remuneration fund for the Board of Directors and Supervisory Board by 36% over the same period last year, to nearly 16.8 billion VND, while the number of personnel in the Board of Directors and Supervisory Board remained the same at 11 people.
Thus, each member of the Board of Directors and Supervisory Board of Sacombank has received an average remuneration of up to 254 million dong/month in the past half year, an increase of nearly 70 million VND over the same period.
Currently, many banks also pay the remuneration of members of the Board of Directors around 200 million VND/month. Twelve members of Techcombank’s Board of Directors and Supervisory Board have the average remuneration of 246 million VND/month in the first half of this year; VPBank’s chairman and four members of the Board of Directors of this bank currently receive a salary of 180 million VND/ month…
According to the financial report of Ocean Bank (OCB), the bank has spent a total of 54.8 billion VND in salary and remuneration for 19 leaders of the Board of Directors, Supervisory Board and Board of Directors in the past half year.
Over the same period, the salary and remuneration fund for the leading personnel of the bank increased by 44%, while the members of the Board only increased by three people.
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